Upto 80% of people with smart-home devices in their house say they are more willing to buy a home with connected tech in place. 34% of homes bought in 2018 were by Millenials. 46% of these millennials have smart-homes already and are ready to pay more for a smart-home.
Smart homes are becoming the norm and not abnormal due to the need for connectivity in homes. Another factor that drives the demand for smart homes, Dubai real estate agencies have discovered is the need for green-homes and interconnectivity. Security and energy management devices such as smart thermostat and security doors lead in the demand for smart devices. More than 709 million intelligent security devices have been made in 2019, indicating that more and more people have smart home devices.
Research reveals that 66% of people with smart home devices say they are willing to leave their smart-home products behind if they thought their houses would sell faster as a result. The real estate market trends with regards to residential homes tilt towards Millenials and a proportion of Gen Zs. For people outside these generations, there are proves that baby boomers have also gotten in on the use of smart devices and smart-home products. New projects by Emaar, for example, if there are smart-home products in them, are going to sell more because 72% of millennial homeowners would pay $1,500 or more to add smart features to their home.
In another research, it was discovered that 44% of millennials are ready to invest over $3,000 to transform their current home into a smart one.