Smart Crowd Offers Hassle-Free Solution To Biggest Property Investment Fears
Smart Crowd, the first and only financially-regulated digital real estate investment platform in the Middle East and North Africa, has discovered people in the UAE are concerned about the economy, with nearly half delaying major life decisions due to financial reasons.
The first annual Smart Crowd Financial Freedom survey questioned more than 500 people across the UAE, to discover what their financial status and attitudes towards investment are.
And the survey uncovered negative sentiment towards the economy, with some 68.8% of respondents declaring they were either concerned or very concerned about the local economy and its effects on their personal finances.
However almost 60% (59.6%) of people are confident they will ride the wave of economic downturn – admitting that they have positive financial plans in place. While only 10.1% of respondents said they were quite worried for their finances over the last five years, some 30.3% declared they felt they won’t be able to maintain their current lifestyle in the prevailing economic climate.
Around a third of respondents claim they want to invest in property, but cannot afford it, while just over 16% say they’d like to invest, but don’t know how or where.
Siddiq Farid, co-founder said: “Given that around a quarter of our respondents own property in the UAE, it’s clear that they are feeling the pinch. We all know that the economy and the property markets are cyclical, or experience peaks and troughs, but if you want to avoid the worry of solo property investment, Smart Crowd offers a viable alternative way to invest without the associated headaches.”
Smart Crowd’s crowd funded investment offering allows people on lower incomes – and without huge savings – to build a diversified portfolio and “unlock their wealth potential”.
The current property market in Dubai asks buyers for a large deposit, and there are numerous fees, charges and on-going maintenance, insurance and repair costs to consider. Smart Crowd allows entry level investors to gain a foothold on the property ladder from just AED 5,000 – and share in the profits generated by rental income and property sale.
“We enable property investment for those looking to build financial assets and generate investment income, with ease. It’s a very transparent system, and we’ve already helped dozens of people achieve some of their property investment plans. It’s very much a buyer’s and renter’s market in Dubai right now, but we offer a solid, reliable investment vehicle for those who might be reluctant to put their hard-earned life savings into just one property right now,” added Farid.
The survey also shows that many respondents had delayed major life events due to financial concerns – like marriage and having children. Nearly half (48.2%) revealed they have delayed house purchase or holiday plans due to financial constraints.
Smart Crowd helps lower and middle-income earners to enjoy property investment without having to hold back on investing in all the other things in life that are important.
And some 47.7% of those questioned admit they would like to make an investment in property, but don’t know what the best investment opportunities are. Smart Crowd’s team comprises both financial and property experts, so even those completely new to investment will find making their money work hard for them a simple process.
Crowdfunding spreads the risk, with funds from a number of investors going towards the purchase of a property. An investor’s dashboard maintains transparency and enables investors to see how their money is working for them. Being regulated by the Dubai Financial Services Authority brings extra piece of mind, and, as Farid puts it: “With Smart Crowd, you can invest in four simple steps – register with us, choose one of our carefully vetted investment properties, invest and then sit back and watch rental income from your investments roll in.”
