Ideal real estate investments for millennials in Dubai
It’s time for baby boomers and generation X to step aside and make way for the next generation poised to rule the world – the millennials. According to the Dubai Statistics Centre as of 2015, 1.2 million residents were within the ages of 25 to 39 years, meaning that 48% of the total population in Dubai was part of the millennial segment.
Loosely defined as those born between the 1980s and early 2000s, millennials are a generation entering early adulthood and ready to make their first investment. But what do Dubai millennials consider an investment?
Research shows Dubai millennials firmly value the importance of home ownership and its investment benefits. Based on a study conducted by Dubizzle, 44% of millennials in Dubai are looking to buy a home in the next few years. And why not? Dubai offers residents a luxury, tax free lifestyle, with high salaries to afford their own homes. Therefore, real estate players are changing their tune to meet the millennials’ demands and aspirations of 21st century living.
But what does 21st century living entail from the millennials’ perspective? Let’s have a look.
Easy maintenance
Hectic work schedules and full social calendars come as a part and parcel of the fast-paced modern millennial lifestyle. This means that they prefer homes that require less monetary investments and don’t need over the top maintenance. Residential societies that take care of general maintenance are attractive to millennial homebuyers.
Modern interests
Modern lifestyles demand modern amenities, and lots of them. Millennials like being in the proximity of everything they would need throughout the day – from gyms, swimming pools and spas, to coffee shops, parks, supermarkets, restaurants, and everything in between. To cater to their interests, properties like AKOYA Selfie, located in AKOYA Oxygen, a world-class golf community in Dubailand, offers millennials exactly the type of neighbourhood they are looking for. The sprawling community comes with every conceivable modern amenity, as well as out-of-the box ideas like a hydroponic café, a tropical rainforest, and a desert-inspired luxury spa to name but a few of the attractions.
Open, spacious interior layouts
Casual, active, and social lifestyles require room. Millennials tend to lean towards homes that offer spacious and open layouts so they can move around freely, without the feeling of tight enclosures and compact spaces.
Suburban spaces with easy connectivity
Contrary to popular belief, millennials prefer living in the midst of all the action. Suburban spaces with quality neighbourhoods, easy connectivity to urban centres, commercial, entertainment and retail hubs, and proximity to schools, offices and hospitals are the real estate hotspots for millennial homebuyers.
Viable payment plans
Millennials want to be smart about their finances. So, the payment plans proposed by prospective homes become immediately relevant. Recognising the need for millennial-friendly payment options, real estate developers have come up with viable options. AKOYA Selfie has a payment plan specifically engineered to meet those needs. After an initial down payment, buyers pay the remaining amount over the next three years, thus spreading the cost. Making it even more attractive is the fact that an AKOYA Selfie villa comes with a plot title deed – allowing full ownership of the land and buying to let property; an added and valuable bonus in the market.
Technological considerations
It’s no secret that the millennial generation loves their gadgets. Eternally plugged in, they want homes that can accommodate their tech-oriented lifestyles. This means fast Internet speeds, seamless cellular service, and plentiful charging points.
In short, millennials are a generation of busy, savvy individuals looking for profitable investments- but on their terms.
AKOYA Selfie
A vibrant community of young professionals, couples and families, AKOYA Selfie presents a refreshing way of life, with spacious living areas, low maintenance and modern amenities.
Invest in premium Malibu-inspired 3 bedrooms villas for sale in Dubai in a vibrant golf community from AED 1.2 million payable over 3 years with the plot title deed included.*
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