Forthcoming trends suggest technology will revolutionize real estate

Technology has become a significant part of our life today. We experience technology every hour and minute of our lives. Whatever your socio-political background maybe, technology plays a massive role in our day to day activities. 

India is a developing country, and its present growth regarding population urbanized concerning technological growth is 33 percent. Real estate is the mainstay supporting the growth clause, and technology is the core supplement, which makes this evolutionary timeline grow even faster.

Let us try and understand this demand and supply relationship between real estate and technology better. Assume this situation; you moved from Rajasthan to Noida in a quest for a better employment opportunity, you begin searching for a rental home and decide to move from place to place. Spending hours finding the property that best suits you and your pocket, and further disbursing a handsome amount to the brokers, to finally get a place to stay.

How about a situation where technology in real estate answers all your woes, without you having to move out from place to place in search of a home?

Well, it’s true! With the coming up of applications like Nest Away, Ziffy Homes, Housing, and a few others, the accommodation facilities are just a click away. You can choose, keeping in mind the factors of budget, amenities, locations, and furnishing. Besides, what’s best is that there is no brokerage since there is no human involved.

Furthermore, considering the market size of India, today we have $4 billion revenue paid to brokerage firms in urban cities, around $15 billion rental amount spent on an annual basis.

Cutting-Edge technology is the only breakthrough, which can see the amount of brokerage paid to come down, saving lots of money. Technology in real estate though may not be a prevalent trend today, but with the growing demand for technology in every field, we can expect technology in real estate to rise soon.

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About The Author

Hassan is one of our Senior Analyst here in the Horizons Cottages realty blog. He received his degree in strategic journalism from the Indian Institute of Journalism and New Media. After his extensive practice of the degree, Hassan moved to New Delhi and contributed to various media platforms. One of Hassan's most significant achievement is covering the transition of Indian's realty sector.

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