Real Estate Tokenization- Growth, and Future!
VanessaJane last edited by VanessaJane
Reports say the global real estate investment market expanded from $7.4 trillion in 2016 to $8.5 trillion in 2017. In the year 2018, the first property in Manhattan, which was worth $30 million was tokenized on a blockchain network. Mr. Barry Monies, REINNO’S chief business development officer said,
“ Tokenization is revolutionizing the industry and establishing a new model for owning, financing, and investing in real estate. We are taking the big asset class online. I have been in the real estate industry for 30 years and this might be the most exciting development I have seen so far.”
It is expected that by 2023, the real estate market size is set to grow from USD 983 million to USD 2670 million, with an annual growth rate of 22.1%. And by 2025, the global real estate market is expected to hit a revenue of $4,264 billion. Know more - [https://www.blockchainappfactory.com/blog/a-brief-analysis-of-property-tokenization-the-future-of-real-estate/](https://www.blockchainappfactory.com/blog/a-brief-analysis-of-property-tokenization-the-future-of-real-estate/)