5 TECH TRENDS THAT AFFECTED REAL ESTATE

Over the years, various technological trends have emerged at one point or the other and some of these innovations have affected and changed the way we market real estate. The following are some technological trends that have affected real estate in recent years:

Mobile Internet

In a report recently released by the Nigerian Communications Commission (NCC), there are 83.2 million internet users on the GSM networks in the country.  

Online listings have been on for a long time but mobile internet has had a profound impact on the real estate industry. The 

demographics of home buyers has been leaning towards younger buyers who form the bulk of mobile internet users in the country.

This has also led to the development of mobile apps by real estate companies. With mobile internet and increasingly powerful mobile devices, getting the ideal home is just a click away.

Virtual tours

Virtual tours in real estate are 360 degrees views of homes that allow potential buyers to “walk through” the home as if they were physically present there. This feature has greatly improved the quality of online real estate listings as it has reduced the need for attending numerous home showings and saved home buyers precious time and money in the process. 

In Nigeria, PrivateProperty is the only real estate market place that has this unique 360 degrees virtual tour feature on its listings. 

Click here to take a tour of a house.

Drones

When buying a home, the surrounding areas should be considered too as the neighbourhood features can seriously affect the living experience of residents. 

Drones have found a unique application in real estate as they have been used as inexpensive and affordable means of capturing images or video recordings of the areas surrounding a home. 

Drones can help home buyers see who their neighbours are and also help them visualize the features of the area.

Read more about drones here: Real Estate Photography and Drones

Internet of Things

The increasing popularity and application of the Internet of Things (where things communicate with one other), has led to the evolution of smart homes where home appliances communicate with each other to optimise home functions. 

This has greatly affected the real estate industry as it has increased energy efficiency in the home among other things.

Read more about smart homes here: What Makes a Smart Home?

3D Printing

In 2014, a Chinese company, WinSun Decoration Design Engineering Co. used 3D printing technology to print 10 homes in 24 hours using recycled materials. The home parts were printed offsite in the company and later assembled onsite. 

Cheaper homes were produced in the process and the construction period was also reduced. Though this technology is still being improved on, it shows great potential in redefining home construction and producing more affordable homes.

Read more about 3D home printing here: 3D Printed Houses and Nigeria’s Housing Deficit.

Source: http://www.privateproperty.com.ng/news/editors-choice/5-tech-trends-that-affected-real-estate.htm?id=4206&utm_content=buffere494d&utm_medium=social&utm_source=plus.google.com&utm_campaign=buffer