Young Emiratis tend to invest in the real estate sector
Officials in the real estate development sector confirmed that they noticed many Emirati youths investing in the sector, especially in new strategic projects, which are characterized by advanced and modern standards within the frameworks of the sustainable and green environment. In turn, Emirati youths considered that their investment in the real estate sector would contribute to revitalizing this market, preserving their savings through safe investment, in addition to enhancing the national development process – stressing that this constitutes a safety valve for a stable future of living, considering the real estate market in the country as one of the most important investment destinations. They pointed out that the investment of young people in the real estate sector constitutes a great opportunity for them to enhance their knowledge of the market requirements, thus enabling them to gradually develop themselves until they reach advanced stages of contributing to strategic real estate investments. They called on various real estate developers and financing banks to provide incentives and financing facilities for Emirati youths of certain age groups, enabling them to own real estate as of the start of their career. Such step has a great impact in developing knowledge among Emiratis about the feasibility of real estate investment, and its role in promoting the journey towards development and achieving stability for them in the future.
Increasing awareness and knowledge
From his side, the Executive Director of the “Sharjah Sustainable City”, Youssef Ahmed Al-Mutawa, said that they noticed a turnout among many young people for the “Sharjah Sustainable City” project, as the percentage of investors under the age of 39 reached around 55% of the total investors In the project, while the percentage of investors in the project for those between ages 40 and 49 was around24%. This confirms the presence of sufficient intelligence and determination among young people to take this step, especially ince they have become more aware of the market requirements and seek quality projects that are sustainable and environmentally friendly. He assured that the representation of the largest proportion of investors being under the age of 39 indicates the spread of the real estate investment culture among young people. Al-Mutawa added that investing in real estate is appropriate at all times. However, there are times when such investment becomes more attractive because of supply and demand, or for reasons related to economic sectors or commercial activities directly or indirectly related to the real estate sector. He pointed out that investment in real estate at the present time is very appropriate and attractive, as prices are very reasonable, competition between developers is increasingto an extent where they are becoming very flexible with buyers and investors, in addition to being offered many facilities such as easy installments, long-term payments, and a guaranteed return on investment.
From his side, Mustafa Al-Saeed, head of sales at Reportage Real Estate in Abu Dhabi, said that Emirati youths are witnessing a great trend towards real estate investment. He added: “The youth turnout for real estate investment in our company nearly reached 62%, from the period extending between the last quarter of 2019 and until now, as the age group of investors between 20 to 39 years, most of which are women, took the lead in buying residential units from our company’s projects.”