SmartCrowd, MENA’s first and largest real estate crowdfunding platform, says demand for Dubai property is at an all-time high. This month, the DFSA-regulated business sold a studio property in Dubai Silicon Oasis in just two hours, demonstrating the sheer demand amongst its community of investors.
Siddiq Farid, co-founder and CEO of SmartCrowd, said, “Regional and international investors have a real appetite for Dubai property now. Expo2020 has raised the profile of Dubai amongst foreign investors and with savvy local and expat buyers in the market too, demand is strong. Over the past quarter, we have seen an almost 50 per cent uptick in people registering on SmartCrowd and properties listed on the platform are selling in a matter of hours.”
SmartCrowd has a 100 percent success rate in selling all properties listed on its platform, helping dozens of agents across the region close more than 55 properties. The average end-to-end transaction cycle is as little as three to five weeks – significantly faster than standard mortgage transactions. As a platform, SmartCrowd is ready-made to fund properties, something that is supported by private owners and brokers.
Zaal Nodjoumi, a Dubai-based private landlord who has sold property through SmartCrowd said, “The fractional ownership model was attractive because instead of finding a single buyer that takes their time to make a decision, SmartCrowd investors follow a process that gives the seller a yes or no answer quickly and then follows through. Partnering with SmartCrowd was a refreshing and professional experience to sell my property.”
Adilet Chynystanov, Agent and Downtown Specialist for Springfield Properties said, “SmartCrowd’s requirements for property acquisition have been transparent and on point. It helps homeowners to sell their property at market value without wasting their time with any unreasonable individual buyers.”
It’s a view that is echoed by Robert Villalobos, Residential Sales and Leasing Manager for Better Homes, “The biggest advantage is SmartCrowd are cash buyers and super efficient with the Dubai Land Department regulatory processes, which means transactions are on the quicker side, giving all parties involved the confidence to move forward. Another benefit is SmartCrowd truly understands the market and commits to a significant analysis of every opportunity before a transaction is agreed.”
SmartCrowd makes it very easy for private sellers and brokers to sell properties, limiting their marketing budget and time spent on each deal resulting in more commission in their pocket or cash for sellers.
To sell a property on SmartCrowd, properties can be submitted online at smartcrowd.ae/sell-your-property. SmartCrowd typically responds in 24 to 48 hours.
