'Alexa, dim the lights, please...' This simple voice command has become the latest addition to our bedtime routine. In a world where technology reigns supreme, we all long for a life of comfort and luxury within the confines of our own homes. Despite countless advancements, there has always been a void when it comes to mundane tasks like turning off the lights or opening the blinds. However, it comes as no surprise that voice commands have become a true blessing, especially on those lazy Sunday mornings when all we want to do is sit back and relax.
As we enter 2023, more and more homeowners are beginning to invest in smart homes. But why should you join them? Maaz Jamshed Khan, sales director of Global Homes Real Estate, highlights how modern consumers embrace automation as a time-saving and ultimate convenience. "In the realm of smart homes, convenience and time-saving are paramount," Khan explains.
"Envision returning to a well-illuminated abode, where the temperature is already adjusted to your liking. Through automation, the control of various home elements – lighting, heating, security systems, and beyond – becomes effortless and accessible via voice commands or smartphone applications. Furthermore, smart home technology in Dubai enhances energy efficiency, empowering homeowners to make sustainable choices. Serving as the command centre for these cutting-edge dwellings are voice assistants like Amazon Alexa or Google Assistant, epitomising Dubai's commitment to professional and innovative residential living," he adds.
An era of luxury living
Luxury homebuyers recognise that incorporating technology into their homes offers aesthetic value and enhances overall comfort and convenience. Technological innovation has become the cornerstone of modern design and architecture, emphasising the evolving definition of luxury.
Speaking about how smart technology is not only a luxury but a better option for better living, Amaar Mir, senior manager at Midis Group, sheds light on the advantages. He points out: “Appliances with smart features can optimise their operation based on usage patterns and real-time data. For example, smart refrigerators can track food expiration dates, create shopping lists, and adjust cooling settings to save energy.”
Smart technology extends beyond just household appliances. It has permeated various aspects of our lives, including healthcare, transportation, and even city infrastructure. Mir emphasises that these advancements have the potential to greatly improve our quality of life.
Furthermore, luxury homebuyers seek to improve their quality of life through smart home automation. The integration of technology is no longer merely a 'fun to use' feature but an essential element for achieving an efficient and thriving lifestyle.
Kamran Ghani, CEO of Empire Developments, emphasises the added flexibility gained from integrating smart home devices. "We at Empire Developments started installing smart door locks fully integrated into the smart home system. Even if the person is away from home, it gives him the control to open, close, and see who is inside the home. It happens through the integrated camera in the door lock," Ghani said.
Boosting property demands
Due to the growing number of smart homes, real estate prices in Dubai's top districts have increased by 90 per cent, attracting buyers and tenants looking for comfort, security, and energy efficiency.
With a growing preference for technology-driven solutions, the adoption of smart-home technology has been proven to boost property sales. The presence of pre-installed smart-home devices not only provides convenience but also offers a competitive edge in the market. The impact of smart-home technology on the duration of property sales can vary depending on individual preferences and market conditions. In general, incorporating smart-home devices can expedite sales and provide customers with a competitive advantage in an increasingly tech-savvy market.
Imran Farooq, CEO of Samana Developers, is optimistic about the future of the home automation industry and recognises its significant potential.
"In my view, home automation will soon become an essential component within the next 12 to 18 months, prompting a surge in upgrades among existing homeowners. An increasing number of real estate construction projects will integrate home automation features," he said.
While smart home devices can increase the property’s demand and its propensity to sell, one might want to look at their adoption rates before making crucial investment decisions. Khan recognises this need and gives the outlook of smart homes in the real estate segment for five years.
According to Khan, the global smart home market has witnessed remarkable growth, with a market size reaching $80.21 billion in 2022. He highlights that this figure is projected to increase further, reaching $338.28 billion by 2030. In terms of adoption, there are an estimated 300 million smart homes worldwide.
"It is estimated that there will be 4,63,50,000 active smart home households by 2027. At Global Homes Real Estate, we recognise the potential and appeal of smart homes, aiming to cater to the diverse needs of our audience, particularly the majority audience within the age range of 25-45. With an average revenue per installed smart home of around Dh900-1000, we strive to provide innovative and convenient living spaces that align with the global trend of smart homes in the luxury real estate sector," Khan explains.
Leading green solutions
The synergy between smart homes and sustainability is undeniable. Investing in a smart home is a wise decision that not only enhances your living experience but also contributes to a healthier and more eco-friendly lifestyle. While the initial costs of making changes and upgrades may seem daunting, the long-term benefits far outweigh the investment.
Living in a smart home provides numerous advantages, including improved energy efficiency. Ghani highlights the aspect, emphasising advanced automation and control systems that lead to no energy wastage while you are away.
"Smart thermostats and lighting systems intelligently adjust to optimise energy usage, resulting in significant savings on utility bills. This efficient management of resources not only benefits your wallet but also reduces your carbon footprint, thereby making a positive impact on the environment."
Based on a comprehensive understanding of smart home adoption and being in the real estate market for almost half a decade, Khan signifies this revolution as a healthier choice of living. "Incorporating smart home automation into your life can significantly contribute to creating a sustainable lifestyle," explains Khan.
"Smart Homes is committed to providing innovative and energy-efficient solutions for homeowners in Dubai, aligning with the mission of the Dubai real estate market. Smart home technology enables homeowners to real-time monitor and control water usage, promoting water conservation, preventing wastage and supporting the efficient use of this precious resource. Additionally, automating home appliances reduces unnecessary waste, with smart homes facilitating recycling, waste management reminders, and consumption monitoring. Dubai's real estate strives to make your home a sustainable living space with innovative and eco-friendly solutions."
Shaping the future
The real estate industry has witnessed a significant transformation due to the Smart Home revolution. Khan acknowledges the growing popularity of smart home technology in the Emirate, with various Dubai real estate developers incorporating these appliances and devices into homes. He also highlights the initiatives promoted by the Dubai government, such as Smart Dubai, Dubai smart city, and Dubai Green building regulations, which have positioned the UAE as a centre for this type of engineering in both residential and commercial buildings. He highlights: “Smart home technology is becoming increasingly popular in the Emirate, with many Dubai real estate developers like Shoba Realty, Danube, Emaar, Ellington Properties, etc incorporating these appliances and devices into homes.”
The advancement of smart home technology is opening up new opportunities in areas such as entertainment control, HVAC control, home healthcare, smart kitchens, and others. Ghani sheds light on the emerging trend in smart homes, stating: "One of the latest trends in smart home that is set to impact the real estate industry is the integration of artificial intelligence (AI) and machine learning. AI can provide predictive analytics to optimise energy usage and improve overall efficiency. The integration of AI and machine learning in smart homes is expected to enhance convenience, energy management, and personalised experiences, shaping the future of the real estate industry."
With the advent of 5G networks, the potential for faster data transfer speeds and lower latency has opened up new avenues for technologies. Mir highlights, the influence of AI is already reshaping numerous industries, and its significance is set to further expand in the future. "AI-powered virtual assistants, like Amazon Alexa, Google Assistant, and Apple's Siri, act as central hubs that can connect and control multiple smart home devices from different manufacturers. AI can predict when smart home devices might require maintenance or replacement based on usage patterns and performance data. This enables proactive maintenance, reducing downtime and extending the lifespan of devices."
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