Every industry is fast embracing the concept of technology in enhancing the effectiveness of the services rendered and increasing the work completed. Real estate, has incorporated modern technology to help in the automation of services while becoming easily accessible to potential clients.

The world of real estate is changing based on the advancements made in technology and the financial steps taken in creating a thriving industry. Some of the hottest trends that have happened in real estate are dependent on the business decisions and technological developments.

Trends in Real Estate Financing

Real estate contributes a considerable percentage to the income of a country. Thus, it is expected that the methods of financing continually change to accommodate individuals and groups that have a high stake. Some of the new trends include;

1. The need for affordability with regard to the stagnant wage growth. Real estate financiers are focusing on creating opportunities for people to get the most affordable houses in areas that also provide social amenities such as schools, medical facilities, and shops. The need for affordable and social housing has led to the popularising of the build to rent notion, which is only possible due to the combined effort of investors, developers, and governments.
2. Investors are becoming the primary source of financing for real estate. The increased lending is mainly due to the high return rates that they get. People are also embracing the trend due to low-interest rates. This is taking out banks as financiers.
3. There is a growing demand for affordable housing and decreasing supply. This is due to a few factors, one of them being overseas migration. Non-profit organisations are working to deal with the issue.

Technology Trends in Real Estate

People are making inventions every day, and these creations are meant to make life easier for those that use them. Technology has been embraced in real estate due to its positive impact on the efforts of keeping the industry up and running. Some of the popular trends include;

1. Blockchain technology – this has been embraced as a method of making payments fin real estate. It eliminates the idea of middlemen, which, in turn, results in reduced costs and fast settlement.
2. Virtual and augmented reality – while virtual reality allows you to tour your real estate from anywhere in the world, augmented reality helps real estate agents show the possibilities of open spaces and incomplete projects. They both help in giving a client perspective of what their real estate looks like and the potential it has.
3. Bots are used to answer questions on real estate issues, and they give recommendations on the best alternatives for clients.
4. Automation – real estate agents get to assign the role of predictable communication to machines. Accounting and processing are also dealt with under automation.