One of the biggest demographics in the Dubai properties, millennials are a big deal for landlords and developers. Their opinions really matter, so it’s important that the brains behind the properties can match what they’re looking for.
Dubai developments have a strong focus on the concepts of live, work and play; modern living spaces where residents can enjoy the best of both worlds in ultimate comfort. This is perfect for the average 27 to 35 year old looking to set up home somewhere elegant, vibrant and exciting, but there are other specifics millennials are after. Here are some of their biggest priorities.
In a time when economic and political uncertainty is at an all-time high, particularly for British ex-pats, affordability is a major concern. The vast majority of millennials are going for affordable housing opportunities or flexible payments at the very least.
Dubai offers some of the best deals around, with developers all fighting for the millennial market and willing to offer some great incentives to get them.
Millennials are surprisingly practical in their home tastes, seeking out properties that offer lots of space and functionality over trendy mod cons. Open and broken plan living/eating areas are very popular, with under 35s also favoring light, airy spaces where they can work from home.
The minimal look is still a big hit with this age group, and the general consensus seems to be that it’s good to have enough space but nothing too big.
Millennials are seeking out well designed, stylish homes that are functional and efficient. Most see kitchens as the most important room and look for spaces that are easy to cook and move around in and great for socializing.
It used to be that younger buyers were resigned to the fact that they’d get a poky garden at best. Fortunately, Dubai offers some of the best lushes, green landscaped outdoor spaces around, with many properties boasting lovely gardens of their own.
Millennials want to live, work and play all within close proximity, and all in one development are becoming increasingly popular in Dubai real estate. This is an area where people can not only live practically next door to their office but enjoy some of the best shopping and views on the planet.
Younger buyers don’t just want a roof over their heads, they want to build equity and plan for a financially secure future. With even relatively small apartments offering ample living space and functional designs, there are lots of opportunities to either set up home for a long time or sell for a decent profit later on.
One thing for certain is that millennials are a picky demographic who know what they want and will shop around until they find it. They’re living in the now, but also look for properties that will serve them well long term too. Dubai ticks all the boxes for many first time buyers, and it’s a great place to set up home.