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Impact of Technology on Real Estate in Saudi Arabia

Technology is spreading its wings all across the globe. The claws of technology are deep rooted in every industry operating in the world. Similarly real estate has also seen a hug impact on its operations ever since technology emerged. In Saudi Arabia, a country famous for swift economic development, technology is playing a huge role to build a stronger future for real estate. From buying and selling to renting a property everything has changed by technology.

Digital Property Listing

One of the most important aspects of technology in the real state of Saudi Arabia is the digitisation of the property listing system. Technology has introduced online platforms and mobile applications for buyers and sellers to connect with each other people interested in buying or selling property can now browse through the lists of properties. Not only has this technology also allowed the virtual tours of the property by providing high-quality pictures and videos pertinent to this technology has streamlined the search process. The feature of virtual tour has played a role of the game changer in the Real Estate industry. It is because buyers are able to have a 3-D virtual tour of the property. They’re interested in which helps them evaluate every part of the property before physically visiting it. 

Block Chain in Real Estate

Block chain also plays a role real estate as it deals with the property ownership and title management. It manages digital ledger keep the history secure to avoid fraudulent activities in the industry. In addition to this block chain allows off border transactions which deducts the need of currency conversion. It also saves the overall cost incurred in currency conversion and other payment protocols. Therefore, technology has for sure played its part to flourish the real estate industry in not only Saudi Arab but the evoked world.

Smart Home Integration

The acceptance of technology by the kingdom has been proven to be beneficial for the country and the real state sector. Builders and developers in Saudi Arabia are introducing smart home technology in their projects which offers the buyers ability to control their homes through smart devices. Not only the sportsman technology also helps and security systems energy-saving appliances in home automation. These features are becoming highly common in the new projects being constructed in Saudi Arabia.

Property Management & Tenant Experience

All praise to technology that property management in Saudi Arabia has faced huge transformation. Property owners and the managers have access to online platforms that not only streamline the process and operations, such as tenants cleaning and rent collection, but also look after the maintenance and repair services of the property, this is also benefited customers as the customer feedback and reporting issues have become easier than ever.

Smart Investment Platforms

Not only management and services, but the investment in real state has also become a great Erickson’s technology, emergence of Saudi Arabia. Technology has held a wide range of investors to gain access over different properties according to their needs platform such as real estate investment, trust and crowd funding also allow individuals to make investments without huge capital, moreover, these platforms are transparent and there is a file which also eradicate the barriers of entry in the real estate market easily.

Conclusion

To wrap it up, Saudi Arabia has gained enormous benefits by accepting technology as it has revolutionised the estate industry. The easy access of real estate has attracted more investors resulting in the better economic development. Therefore, it has been proven that technology in any sector plays a role towards betterment and success.

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