Do you know 95% of realtors use e-mail, 57% scroll through social media daily, and 69%of them have a website? Yes, even real estate developers have expanded the score of digital modifications and amplifications.
From digital 3D scanning to AI, the future of property development, commercial or residential, seems unstoppable.
In the US-only 80% of real estate companies have implemented new tech solutions in their traditional business processes. Even the real estate investment industry is not showing any signs of slowing down.
Surprisingly, being already affected politically, geographically, environmentally, and economically Pakistan’s real estate market is valued between $300 to $400 billion.
Well, if you’re not equipped with the right insights about how real estate in the digital age looks like, worry not, we’re here to help!
This updated piece has some of the latest technologies that Pakistan’s real estate developers are leveraging, encouraging investors to invest their fortunes, just rightly.
How Digitalization excelling Real Estate Investments in Pakistan
Before highlighting the significant advancements in real estate in Pakistan, let’s crack into what role digitization plays in real estate.
Digitization in real estate has expanded throughout the industry. For example, with the help of the latest software and applications, it’s becoming easier and super-efficient to save and re-purpose the investors, realtors, and dealers’ data.
The same is the case with other areas of real estate.
Pakistan Real Estate Developers and AI
In Pakistan, real estate is effective with help of artificial intelligence and machine learning. AI is a human alternative to complete tasks that require reasoning and self-correction. Whereas ML helps real estate developers to make precise predictions based on given data available. Even PropTech is also the adoption of ML and AI.
Property buying and selling with AI in Pakistan
Artificial intelligence is effectively used by real estate portals and listing websites like Graana, Zameen.com, etc. Let us study the features of how these portals work and save hours for investors in searching for the right property.
Go to any of the top listing sites and simply enter your requirements, let’s say, you’re looking for a corporate office in Islamabad, Blue Area, in a couple of seconds, all the relevant properties skim through and appear on your screen.
Some top-notch real estate developers also offer a video call request on their home screens, whereas others have also incorporated WhatsApp direct connect or features like, chat-bots, to assist the user right then and there.
You will be glad to hear that real estate in Pakistan does have property builders that have a digital presence in more than one language!
For builders and developers, having registered/listed across high-engaging listing sites means attracting more targeted clients/investors.
Some other advancements are…
Virtual Property Tours
After the world is hit by the global pandemic, site tours are no more feasible or applicable. People tend to visit virtually the sites uploaded by potential investors. It gives a comfortable and relaxed experience of visiting a property with respective dimensions and directions.
Changing Communications
Due to digitization, commercial and real estate developers are forced to leverage the latest communication channels as reportedly;
- 80% of customers prefer to get first-hand information about the property from the given chatbot.
- Today, 80 % of customers/investors need immediate responses.
- Whereas, 90 % of them are comfortable with texting.
Keeping these numbers, real estate developers in Pakistan have to be active across all the latest channels, so that they can serve investors timely.
3D-Scanning
One more add-on to real estate’s digitalization is 3D- Scanning. You might have an idea what it is. It presents a digital model of a proposed property. These days’ real estate investors incorporate these fascinating and real-time scans to give a visual tour of their property planning and modeling.
How real estate digitization is giving profits to investors
Pakistan’s real estate digitization has given a platform to investors. Here they can communicate effectively with customers using virtual tours to discuss queries, problems and provide solutions. It is time saving and customers can quickly decide.
Effectivity of Artificial Intelligence on growth of real estate in Pakistan
Basically artificial intelligence and machine learning are computer generations. These help computers generate information and keep updating it. Hence usage of these technical intelligences help a lot real estate investors. It controls costs, gains and evaluate risks. This process keeps on updating with AI processes. It further manages growth and revenue analysis. It anticipates potential risks arising in the investments.
