The wise words of financier, railroad executive, and politician Russell Sage are as follows: “Real estate is an imperishable asset, ever increasing in value.” It is the strongest form of protection that human creativity has come up with. It is the cornerstone of all security and the one virtually unbreakable.
Real estate is transforming with other industries, adjusting to changing consumer tastes and technological advances. Realtors and business owners struggle to attract new clientele in the real estate market.
Homebuyers and sellers no longer rely only on real estate brokers. Traditional customs have changed dramatically due to Millennials or Generation Y. Today; agents use mobile apps to manage this changing environment. According to the National Association of Realtors, over 40% of homebuyers look online in 2022. All real estate players must have a strong internet and mobile presence.
Real estate app developers in UAE have benefited several startups. The success of Aqar, Zillow, and more shows that the industry recognizes the importance of digital platforms in reaching and engaging modern clients.
So, if you’re curious about the cost of developing a real estate app, this blog is for you.
What is a Real Estate Application?
Real estate applications are sophisticated software solutions crafted to streamline property transactions. These applications are intricately designed to facilitate seamless connections between sellers, realtors, investors, landlords, tenants, and buyers.
Within these applications, an extensive database hosts thousands of properties, enabling buyers and tenants to effortlessly search for their ideal living spaces, whether apartments, villas, or commercial properties, from any location.
Furthermore, these applications provide a platform for realtors to expand their client base and generate more leads, thereby increasing revenue and minimizing the need for in-person brokerage.
Statistics on the Real Estate App Development Market
To comprehend the potential impact of real estate applications on business profitability, consider the following statistics:
- Globe Newswire projects that the global real estate market is set to reach $3741.06 billion with a 10.5% Compound Annual Growth Rate (CAGR) in 2022. By 2026, this figure is estimated to grow to $5388.87 billion at a 9.6% CAGR.
- According to PR Newswire, the real estate market is anticipated to reach $5388.87 billion with a CAGR of 9.6% by 2026.
- Statista reports that investment in real estate software in the United Kingdom will reach approximately $477.35 million by 2024.
- Looking ahead, various reports provide insights into the projected growth of the real estate app development market:
- Globe Newswire predicts that the global real estate software market could expand to $15.8 billion with a Compound Annual Growth Rate of 8.9% by 2027.
- PR Newswire estimates that the real estate software market size will reach $18.66 billion at a CAGR of 9.7% by 2028.
- Industry Arc forecasts growth of $20.6 billion in the software development real estate market at a CAGR of 5.7% by 2026.
- Market Research Future suggests that the global real estate software market will experience a growth of 10.1% CAGR from 2019 to 2027.
- Data Bridge Market Research predicts a CAGR of 9.8%, reaching $17.06 billion by 2028 for the real estate software market
Essential Features for Property Search Rental Apps Aqar
Comprehensive features generally define a real estate app’s success. Specific industry-standard features make Aqar popular. If you’re designing a real estate app or hiring real estate app developers in UAE, you must carefully assess and include these vital elements. These features include:
Robust Database Integration:
Strong databases are essential to real estate app mobile development. A robust database is essential to your app’s functionality. Your database’s size and timeliness affect user engagement. The National Association of Realtors and third-party listing services provide Aqar with data. Collaboration with local real estate merchants and specialists ensures a large and current database for mobile app development.
User Profiles:
Aqar’s housing app serves multiple user groups. Real estate app developers must let buyers, sellers, and agents build profiles. Every profile should allow certain actions. Buyer profiles can view listings, make questions, and save properties, while agent profiles can display listings, schedules, and interested buyer data.
Onboarding:
Your app’s first interactions after installation are critical. User retention increases with a user-friendly onboarding procedure. Plan an onboarding process that covers navigation, operations, and app value. At this stage, social media APIs may streamline onboarding and convert consumers from consideration to engagement with a few clicks.
Sort, filter, search:
Customization improves app relevance. Properties should be filterable by budget, location, amenities, and more. The option to search, filter, and sort by purpose, location, price, bedrooms, bathrooms, property kinds, year built, built-in area, and mortgage facts is crucial. This boosts platform reliability and user comfort.
Interactive maps:
Property search mobile apps need map integration. It locates users and gives useful information. Consider a smart map feature that shows nearby places. Users can view statistics on schools, banks, hospitals, average resident income, crime rates, and more to get a complete picture of the area.
Your real estate app may improve functionality, user engagement, and success in a competitive market by adding these must-have features.
How Much Does It Cost to Develop Real Estate Apps Aqar?
A number of things need to be considered when estimating the cost of developing a real estate app similar to Aqar. The intricacy of the application, the size of the development team, and the location of the retained development agency are important factors.
Creating an Aqar-like property app to buy and rent a property is expected to cost between $ 83,000 and $100,000 if it incorporates a feature set similar to the ones listed above and uses the same technological stack previously described.
The per-hour cost of app developer in UAE is also affected by the features and experience of the developer.
Remember that this price range is only a basic approximation that was obtained by examining the features and technology stack that were previously discussed. Modifications to these sets will unavoidably affect the total cost, raising or lowering it as necessary.
Wrapping up
The provided cost breakdown for Aqar features is approximate and subject to variation. However, these factors generally influence app development costs. Applications like Aqar, built with advanced features, have achieved global success.
For in-depth guidance on developing feature-rich real estate apps and associated expenses, it is advisable to consult with experienced real estate app developers in UAE. DubaiAppDeveloper, a prominent app development company, offers a comprehensive solution. Our team of professional developers ensures the creation of robust, visually appealing, and secure real estate mobile applications at a competitive price.
So, reach out to us and get an estimated cost of your real estate app.
