The real estate industry can thank blockchain tech for its success

Blockchain is making it easier to trade real estate properties on a global level

The international real estate industry as a whole is going through a growth spurt in 2019, even with how volatile and uncertain the economic outlook was at the beginning of the year.

The global market has been estimated to reach a revenue of over US$4 trillion by the year 2025.

Economic development in developing countries, the rising increase in demand for real estate housing, and several other factors have steadily been contributing to the increase in the market revenue.

One major driver of the market is the rapid increase in rural-urban migration which has led to urbanization. This increase has spiked the demand for urban home spaces thus increasing real estate housing investment.

Also, investments in the global commercial retail market run into billions of dollars with real estate investors still actively exploring different countries and locations to invest.

Barriers to investing

However, despite the growth and the estimated forecast revenue, the real estate market is still plagued with a number of limitations that hinder more growth.

There are still barriers to investments in the sector especially for foreign investors, one of which is the complex process involved in buying real estate properties in foreign territories.

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