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The one question that keeps most of us going is - 'what next'?
Though real estate is one of the last sectors to embrace technology, here are three emerging proptech trends that the industry is hugging with hope and pride.
#1. Blockchain - Blockchain can help the real estate sector big time through tokenization. Tokenization is akin to cryptocurrency and can be used for seamless and transparent division of a property.With foolproof ledgers, property can be turned into tradable shares or tokens that could be stored on a blockchain network.
For builders, tokenization means enhanced freedom and flexibility to raise capital. Investors on the other hand can deploy funds more efficiently, and property owners get maximum control over their equity.
#2. Virtual Reality - Often, buyers struggle to envision what a property rendering will look and feel like in real life. With virtual reality tech, buyers can see the finishes, the scale and even the views without having to get off their couches.
Not your average 3D walkthrough that takes an hour to load but we're talking VR glasses and augmented reality that immediately transports buyers into the very space they want to buy.
#3. Shared Housing Tech - A lot of folks are not looking at real estate as just a full-time residence but also as a way to cover costs, enhance equity and build generational wealth. Think Airbnb and VRBO, etc.
Emerging tech is now enabling landlords to market their properties as short-term rentals where the average daily rent can be much greater than a traditional long-term lease.
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PropTech