Real estate is a growing industry in Tanzania, particularly in Dar es Salaam.
So, as confidence returns to real estate, the industry faces a number of fundamental shifts that will shape its future.
Here at Raha, we have looked into changes that are likely to happen in the real estate landscape in Tanzania over the coming years and identified the key trends which, we believe, will have profound implications for real estate investment and development.
What changes can we anticipate in the Real Estate Market? We here at Raha came up with some suggestions.
People will do house hunting through Virtual Reality, instead of physically visiting the site or attending house openings. Virtual Reality will also be used for house as a mock house designing, customers will be able to technologically plant furniture to see how it may look in real life.
Agents will take a backseat as real estate transactions and sales will be driven by high-tech, softwares, apps and robots.
Prices for leases and sales will be automated being based on market trends and supply vs. demand metrics.
Landlords will pre-build spaces using moveable walls and demountable partitions, allowing tenants to quickly change size or configuration of a space.
Home ownership will continue to decrease as millennials will value mobility over settling in at one place.
Integrated central systems will ensure buildings consume only the energy and resources they need by learning occupants’ behaviour.
AirBNB won’t be figurative, to control overcrowding will have floating apartments on air.
Office buildings and houses will place less emphasis on location and more on functionality and connectedness
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