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How Technology Is Affecting The Global Real Estate Market

What are the latest technology trends in real estate?

Over the past few decades, technology has changed the way we interact with several different markets. As you’re probably aware, international real estate is no different! It used to be unthinkable to buy a property without seeing it for yourself. Now, this happens every day. This is just one of the ways the global property market has been changed by technological progress.

Technology helps real eastate access
New information technology trends make it easy for anyone to access the global property markets
and get involved in property dealings. (Image source: Pixabay.com)

Technology helps real estate market accessibility

One of the most noticeable ways technology has affected the real estate market is through accessibility. These days, more people are able to invest than ever before. Through a variety of digital tools, people can now virtually look around a property, and chat with agents tied to it. This allows you to confirm important information within seconds. It doesn’t matter if you’re in London and the home is in Tokyo or vice versa! Further tools are committed to monitoring market conditions, stepping around capital gains tax strategy and much more. There are now countless resources out there designed to make property investment easier. Investment is steadily becoming something that anyone can do! This is certain to have a big impact on the global market in the future.

Foreign real estate markets are more accessible

Partnerships and agreements are also a lot more accessible through the use of modern technology. Back when there were only traditional channels, investing in a foreign market was extremely hard. You had to make a lot of contacts tied to your target market, usually through referrals or associates. This made foreign markets very inaccessible; reserved only for the most successful property investors. These days, the arena is totally different. Now, anyone with an internet connection can start building a network. When looking to invest, it’ll be easy for you to connect with other players, and verify their history and credentials. Instant communication has made the world much smaller, and investors are doing everything to help that. As this becomes a larger part of investment, we’re expecting to see more and more transparency in the property market.

Technology makes real estate networking easy
With internet and information technology advances, just about anyone can build an online property
network and connect wtih international property players. (Image source: Wikimedia.org)

More options available for real estate investors

One final, overarching change is the increased number of options available to investors now. Recent years have seen the emergence of a few crowdfunding platforms specifically for the real estate market. Here, we can see a long-running wealth gap steadily beginning to close. These crowdfunding tools are expected to provide individuals and smaller companies with the same opportunities as global real estate giants. Many real estate investors already have access to a larger range of opportunities, more promising than what they’d had before. Obviously, progress is a little jumpy and unpredictable. The property market is large and complex. Many of these new technologies are still finding their place, and waiting to catch on. However, as more and more investors discover the benefits of these platforms, they’ll begin to shape the market more visibly.

Technology continues to move quickly ahead, and the property market is moving with it. As you explore this tech, remember that it’s only as good as its content. While various apps and sites make dealings easier, they’ll never replace a keen understanding of the industry.

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"Money is not an invention of the State. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the State."

Carl Menger - the founder of the Austrian school of economics