Did you know that in 2023, the residential real estate market in Dubai, United Arab Emirates, increased by 43.9%, with over 17,741 transactions occurring in the first two months alone? The United Arab Emirates economy is currently being diversified in large part because of the real estate industry. The UAE government wants to diversify its economy and rely less on oil and gas earnings; therefore the real estate industry currently makes up 5.5% of the GDP.
Due to the UAE’s rapid urbanization and population growth, which have led to a high demand for residential and commercial properties, real estate is one of the most lucrative sectors for locals. Significant investment opportunities are presented by this demand for locals wishing to profit from the expanding market. In addition, the UAE provides a welcoming business climate with investor-friendly regulations, tax breaks, and a strong economy for those wishing to engage in the real estate industry.
According to statistics, Property Finder, a well-known real estate app in the UAE, receives over 16 million page visits each month, with about 89% of the traffic coming naturally from the country. The real estate app also commands a sizable 65% market share in the area. The allegations go on to say that the app generates about $50 million in income annually.
The cost to construct a real estate app similar to Property Finder is the most frequent query from various stakeholders wishing to invest in the same, given the YoY increase in revenue for the real estate app. This blog, however, will assist you in delving directly into the specifics of developing a similar real-estate app, the variables that determine the costs, the features that go into developing a successful mobile app, etc.
To give you a general idea, the cost to design a real estate app in the United Arab Emirates ranges from $40,000 to $300,000 (150k AED to 1100k AED). The complexity of the app, the features to be included in the app, the location of the chosen app development company, etc., all have an impact on the overall development expenses.
- What Is The Business Model Of Property Finder?
- Must-Have Features In An App Like Property Finder
- How Much Does It Cost To Create An App Like Property Finder?
- Process Of Creating A Real Estate App
- Steps To Monetize Your Real Estate App
- How Appic Softwares Can Help You Create A Real Estate App Like Property Finder?
What Is The Business Model Of Property Finder?
In the UAE, there is a real estate app called Property Finder that has cleverly taken advantage of the expanding real estate sector. The app helps consumers in the UAE find the homes of their dreams by serving as a dependable and effective real estate solution.
An app like Property Finder’s success depends on several things:
- Detailed Real Estate Listings: Users are more likely to find the property they want because of the app’s large assortment of real estate listings. Users have access to comprehensive property data, including images, descriptions, and pricing, enabling them to make well-informed choices.
- User-friendly interface and user experience: The software has an intuitive layout and simple navigation. With a seamless and pleasurable user experience, users are more likely to interact with the app and come back for subsequent searches, which boosts overall retention.
- Collaborations with developers and real estate firms enable the app to provide users with a broad selection of properties. Users can obtain the most recent and pertinent listings in their chosen location thanks to this.
- Localization: The software incorporates language support, currency conversions, and location-based features to make it more suited to the regional market. Users gain value and convenience from this, which increases its popularity.
- Grand View Research projects that the worldwide real estate software ecosystem will reach a market size of 25.39 billion dollars by 2030, with a CAGR of 12.8%. Due to people’s rising inclination for homeownership and expanding demand for residential property, the report’s segmentation predicts that the UAE is one of the regions likely to have a bigger part in revenue. So if you want to build a platform like Property Finder and expand your online presence to take advantage of the expanding market, the time is now.
Must-Have Features In An App Like Property Finder
The app has capabilities that can improve target users’ overall search and exploration experiences across the UAE. The logical aspects of the Property Finder app that have helped the company go up the real estate success ladder in the modern digital ecosystem are listed below. It is crucial to realize that adding these features may increase or decrease the overall cost of creating a real estate app like Property Finder.
The program contains a large database of homes in many different neighborhoods and regions, including condos, townhomes, commercial properties, and more. Users can quickly navigate through several property types and select the one that best suits their needs.
Advanced Search Filters
Users of the app can apply several search parameters, including area, price range, bedroom count, amenities, and property type. These filters help to focus the search results and find homes that fit the user’s criteria.
The app provides users with detailed information on each property that is featured, including the size, floor plans, pictures, descriptions, and major features. They can learn crucial information about the homes they are interested in thanks to this.
Neighborhood Insights & Interactive Maps
The interactive maps included in Property Finder show off the locations of the properties as well as any amenities, schools, transportation routes, and other surrounding areas of interest. Users are given the ability to completely assess the neighborhood and make informed judgments thanks to this useful tool.
Saved Searches & Notifications
Users can set up alerts for new properties that meet their criteria and bookmark searches. Users are continually updated on the most recent listings that fit their interests thanks to this function.
To help consumers estimate their monthly mortgage payments, Property Finder provides a mortgage calculator tool. By entering the property price, down payment, interest rate, and loan period, users can get a precise estimate of their possible monthly payments.
Currency And Language Support
To serve a varied user base in the UAE and elsewhere, the app provides language compatibility for a variety of user preferences and incorporates currency conversion functions.
How Much Does It Cost To Develop An App Like Property Finder?
As was previously said, the price of creating a property search app comparable to Property Finder ranges from $40,000 to $300,000 (150k AED to 1100k AED). The UI/UX design, the technology incorporated into the app, the features, the location of the app development company, etc. can all affect the final cost of building the mobile app.
Simply put, the most important aspect influencing the cost of developing the Property Finder app is its overall complexity. You will ultimately pay more for an app with a complex interface and a long list of features than for one with a straightforward UI/UX design and a short number of features.
|Mobile App Type
|Estimated Real Estate App Development Cost In UAE
|$40,000 to $60,000
|3 to 6 months
|$60,000 to $100,000
|6 to 8 months
|Highly Complex App
|$100,000 to $300,000
Factors That Effect The Cost Of Development
The price of creating a real estate app like Property Finder might vary depending on several factors. Let’s examine the real estate app development cost in Dubai and the variables that influence it in more detail below, starting with the integrated feature list, interface designs, and wireframes, and ending with the location of the development company:
The level of excellence and complexity of the UI/UX design has a big impact on how much it ultimately costs to create a real estate app like Property Finder. Investing in an aesthetically pleasing and user-friendly design necessitates more design work and costs.
The overall cost of developing the Property Finder app depends on the platform chosen for development, such as iOS, Android, or choosing cross-platform app development. It is typically advised to start with a single platform to maximize the initial budget and then expand to additional platforms after the app finds success in the market.
The total cost of developing a real estate app depends on the size of the development team, which may be internal, external, or comprised of freelancers. The costs associated with each choice must be taken into account while assembling a committed team. It is advised to outsource your project to a suitable app development firm in the UAE, such as Appic Softwares, to make use of the most recent technological resources while maintaining the budget at an ideal level.
Location Of App Development Agency
Because different countries have varied hourly rates, the geographic location of the app development company affects the price of creating a platform like Property Finder. Across different geographical areas, such as Eastern Europe, Asia, America, and Africa, the hourly rates of development frequently vary.
|Hourly Rate Of Development
Like many real estate apps, Property Finder depends on the integration of several data sources, such as property databases, APIs, and third-party services. They provide users with up-to-date, reliable information regarding the properties displayed. The whole process of obtaining various data sources, however, can be fairly labor-intensive and complicated, which has an impact on the expenses of development.
Location Based Services
It will take more time to design and cost more money to include location-based functionality in the app, such as proximity search, geolocation, or map integration. These features demand intricate programming and integration with third-party APIs, which could call for specialized knowledge and additional effort to accomplish.
Security & Compliance
Because they handle sensitive user data, real estate apps must abide by data protection laws. Strong security measures must be put in place as a result, which may raise the overall cost of construction.
In this digital age, people want to take virtual tours of the homes or apartments they want to rent or buy before going there in person. As a result, adding technologies like AR/VR, metaverse, etc. to give your property buyers an entirely immersive experience may increase the overall cost of developing the Property Finder app.
To succeed in the market, an app needs to be properly maintained, which includes bug patches, upgrades, and technology adoption. To maintain optimal performance and flexibility in response to market needs, the business must pay continual maintenance costs.
The price of designing the custom real estate app depends on the technological stack selection as well. The total cost of development may increase if new technology and resources are used to construct a feature-rich app like Property Finder.
The cost of developing an app directly depends on how many and how complicated its features are. A larger feature set often necessitates more resources and time during development.
Process Of Creating A Real Estate App
To carry out the precise needs stated during the early negotiations, a custom real estate app development process requires very effective communication with clients. The clear real estate app development procedure that Appic Softwares uses to create the app of your dreams is as follows:
This step entails holding in-depth conversations with the clients to fully comprehend their vision, objectives and needs for the real estate app. The target demographic, required features, functionality, and any distinctive elements of the kind of real estate app you want to design are all thoroughly gathered by our experts at this point.
The organization’s talented designers painstakingly produce wireframes and prototypes throughout this stage. The structure, usability, and user interface of the app are depicted in these wireframes and prototypes. To improve the overall user experience, designers place a high priority on designing an intuitive and aesthetically pleasing design.
Our knowledgeable developers start creating the real estate app at this stage. Robust functionality implementation, dependable operation, and platform compatibility are given priority. The front-end, back-end, and critical app features are implemented using the most recent technologies and frameworks.
Testing & Quality Assurance
The app goes through rigorous testing at this stage to find any problems or bugs and fix them. To make sure the app works flawlessly on multiple devices and upholds the highest standards, our quality assurance team performs numerous tests, including functional, compatibility, usability, and performance testing.
App Development & Launch
Our professionals assist with releasing the software to the required app stores, such as the Google Play Store and Apple Software Store, following extensive testing and a quality assurance procedure. By managing the relevant app store policies and procedures, we ensure a smooth launch.
Support & Maintenance
To meet all client demands, Appic Softwares provides extensive support and maintenance services. According to the requirements of the customer, our team is committed to resolving problems, delivering updates on time, and adding new features. We place a high priority on maintaining the real estate app’s security, functionality, and usability.
Steps To Monetize Your Real Estate App
Now that you’ve decided to move forward and develop a real estate app for your company, like Property Finder, it’s essential to comprehend several monetization tactics you may utilize to receive the most returns on your investment.
Offering a premium listing service is one way to monetize real estate apps. Property owners can pay for highlighted listings, which prominently display their profiles and properties at the top of search results. Until the paid plan ends, these paid listings will stay in the top spot.
By enabling third-party adverts, the real estate app can also be made profitable. You can provide external companies with paid advertising alternatives if they want to display their ads inside the app.
By using a commission-based business model, you can generate income from real estate transactions in a traditional way. For each successful property transaction assisted by the app, you, as an aggregator, might receive a commission directly from the app.
A free edition, as well as monthly, quarterly, and yearly membership options, are just a few of the different subscription-based plans you can provide. Users can select a plan that best meets their requirements, giving them access to the real estate app’s expanded features and advantages.
How Appic Softwares Can Help You Create A Real Estate App Like Property Finder?
A real estate software like Property Finder can be developed for somewhere between $25,000 and $200,000 (75k to 1100k AED), as previously said. A specialized real estate app development company can assist you in providing an estimated budget taking into account all of the many elements we have covered.
The UAE’s real estate industry is expanding significantly as a result of the country’s booming economy and rising urbanization. This offers a fantastic opportunity for companies looking to enter this market.
Moreover, you should consider working with Appic Softwares, a real estate app development business, to take advantage of the UAE’s expanding market share. Our all-encompassing approach to app development guarantees that the real estate app is meticulously designed in every way. By utilizing cutting-edge technologies like AR/VR, cloud, etc., we help businesses give people immersive experiences.
To create a powerful real estate app and enter the realm of digital innovation, get in touch with our team.
How much did it cost to produce the Property Finder real estate app?
The total price of creating a real estate app in Dubai, United Arab Emirates, ranges from $40,000 to $300,000. The location of the app development company, the UI/UX design of the app, the app’s platform, security compliances, etc. are a few other aspects that influence development costs. To receive precise pricing estimates based on your unique business needs, get in touch with our experts.
What Is The Duration Of Creating An App Like Property Finder?
The complexity and feature needs of a real estate app like Property Finder can affect how long it takes to develop. Typically, it takes 9 to 12 months to construct a highly complicated program with a large number of features. A smaller software with fewer features can, nevertheless, be created in 3 to 6 months.
What Are The Must-Have Features In A Real Estate App?
An extremely capable real estate app will have the following features:
- Listings of Properties Advanced Search Filters
- Interactive Maps and Neighborhood Information for the Property
- Search History and Notifications
- Call the owners
- Reviews and ratings by users
- Language and Currency Support for Mortgage Calculators