The real estate industry has followed the progression of human society. Once people began settling down and starting families, they needed places to live. They built houses and established property rights for things such as lands and possessions.
As people started living longer lives due to better nutrition and medical care, the number of people grew exponentially. Demand for superior real estate has consistently increased. Property value has increased proportionally, with the world’s population approaching 8 billion.
In recent years, the number of properties listed for sale has increased dramatically, and the supply of suitable housing stock has not kept pace with demand. Homes close to amenities such as schools, parks, shopping centres, transportation hubs, and recreational facilities have always been sought after.
Real estate has little competition when compared to other types of investments. Real estate has intrinsic qualities; all gold, paper money, or internet ledgers have perceived value. They are valued based on the belief that people will accept them as equally valuable. In contrast, real estate has been a great storehouse of wealth throughout human history.
While money has changed forms many times, real estate remains constant. With the rise in human populations, there has been an increasing interest in investing in real property. Shelter is a basic human need, and there is limited land on Earth. Real estate accounts for about 30% of global wealth.
While human history is often a tale of inequality and competition, there has also been a strong movement toward providing affordable housing for those who can’t afford it. Financial institutions have helped millions of people access homeownership through loans and mortgages. This has led to an improved quality of life for many people worldwide. Through financial services, renters have the means to transition into homeownership and lock in their ownership of a property that is becoming increasingly rare.
Now, with the advent of fractional ownership, real estate has become truly democratised.