The Future of the Property Market: Technology Set to Revolutionise Real Estate by 2025

Technology leads change in both commercial and residential property markets. Experts think this trend will grow as we near 2025. New tech reshapes property management and investment. It changes how real estate works.

The Rise of Proptech: Transforming the Landscape

Proptech is a new field in property technology. It started with simple management tools. Now it grows into strong platforms that mix many tech ideas. It uses virtual reality to let buyers see homes in new ways. It uses 3D models called "digital twins" to show real properties.

These changes do more than add a new look. They reshape how institutions invest in property. Real estate crowdfunding now moves billions into deals. Blockchain helps by tokenising assets. Hard-to-sell assets become easier to buy. A report at Coindesk shows billions of real world assets now join blockchain. Big firms such as BlackRock use this tech.

The Digital Shift in Residential Property

Home buying changes fast. What is normal in property shifts quickly. Millennial and Gen-Z buyers now join the market. They use online research to guide their choices. Agents now focus on clear images and strong visuals online. Many now offer 3D home tours. Buyers see homes interactively before they visit.

More tech grows in use. Drone photography now shows homes from the air. Views from drones once came only from pros. Chatbots and virtual assistants also cut costs and boost service. A survey shows that 71% of sellers are open to selling to an iBuyer. iBuyers use smart algorithms and tech to buy homes for resale. This change shows that seller tastes are shifting.

Generative AI: The Next Frontier

Generative AI (GenAI) is a major recent change. It affects many parts of real estate. It helps set prices for iBuyers and supports mortgage checks. It also cuts work in property insurance and digital management.

Looking ahead, GenAI can help with property valuation and task automation. It can boost other tech like 3D mapping. The mix of old and new tech shifts an industry that once relied on close personal ties.

Conclusion: Embracing Change or Facing Obsolescence

Old ways built on personal trust will stay. But firms that do not change risk falling behind. Firms that do not use good tech may find it hard to get clients. This is true as a tech-focused generation grows.

Investors and buyers should learn these tech changes in both markets. This knowledge can guide better investment choices and help with the changing real estate scene.

If you want to learn more about these trends, check out these sources:

• Coindesk on Blockchain in Real Estate
• National Association of Realtors on iBuying
• Statista on Real Estate Trends
• Forbes on the Future of Proptech

Using new property tech will be a must for investors and market players as we go into real estate in 2025 and after.