REAL ESTATE TECHNOLOGY

High-End Real Estate Reigns Supreme as the Most Lucrative Asset Class

prnewswire | November 11, 2020

While numerous sturdy businesses falter from the effect of the worldwide pandemic, the extravagance private land market keeps on indicating striking versatility.

Energized by a bunch of elements - among them, a departure from high-thickness metropolitan zones to more rural, single-family home and bequest centered settings - the world's moguls (about 47 million in number) have reclassified extravagance living.

These, in addition to numerous different discoveries identified with the very good quality market, are noted in The Modern Luxury Home: Reimagined - a just-delivered half-yearly investigation by Luxury Portfolio International® (LPI), as a team with YouGov Affluent Perspective. The generally adored brand, which contains in excess of 200 driving very good quality land businesses, is the extravagance showcasing division of Leading Real Estate Companies of the World®.

The whitepaper separates various patterns that are presently affecting the well-to-do shopper's spending designs. The acquisition of extravagance merchandise, travel and experiential exercises, for example, have been everything except diminished by COVID-19. In any case, by that equivalent token, very good quality land has demonstrated to be amazingly versatile and more than fit for withstanding the current conditions.
"Our research indicates that, while the world's high-net-worth individuals have benefited from growing valuations in financial assets, the coronavirus continues to generate tremendous uncertainty," said Mickey Alam Khan, President of Luxury Portfolio International®. "To that end, luxury real estate is proving to be an ideal investment, and consumer preparedness to purchase is very high, with many regions experiencing record sales."

Extra features from the report include:

Overall, is three purchasers for each two merchants, exemplified by the way that, in certain business sectors, the gracefully of single-family homes might be as low as a few months of accessible stock (12-year and a half of stock is viewed as ideal in the extravagance private land market).

At this crossroads, it isn't exceptional to have various proposals on a posting, which implies that purchasers ought to be set up to have solid proposals close by.

Plans to buy an essential home have moved upward during the pandemic, while plans to buy a subsequent home have been moving marginally descending - mainly because of movement limitations - while patterns to sell declined, cultivating a lack of accessible stock. To put it plainly, the report uncovers a genuine "dream market" for dealers.

Of those reviewed, around 61% of wealthy purchasers and 57% of well-to-do merchants noticed that they favored eye to eye property visits with a realtor - implying that operators must be completely versed on COVID-19 conventions in their separate regions.

The interest for spaces that take into account one's "self" are on the ascent, as are home rebuilds, (increases, and so forth), with 32% of those studied taking note of that they might want to revamp.

Seen estimations of home highlights and comforts shift by value range:

In the U.S. $1M to $1.9M territory, outside regions are sought after alongside a committed home office. As work-from-home has gotten universal, thus, as well, has the requirement for a peaceful spot to video talk and be beneficial.

In the U.S. $2M to $2.9M territory, unwinding and an action room are most noteworthy popular, with extravagance property holders are utilizing health practices to battle the pressure of progress and now life at home almost all day, every day.

In the U.S. $3M to $5M+ territory, checked home security (without a doubt because of the steady 'at home' status of the vast majority), and home diversion spaces are progressively searched after.

Property venture is ready to develop, with 61% of those studied showing their next huge purchase will be a home-related speculation (either a buy or redesign). 20% showed that it will be a vehicle. The level of the individuals who addressed relaxation get-aways, top notch food, and top of the line design enrolled in the single digits.

Despite the pandemic and ensuing lockdowns, by and large shopper trust in both the U.S. furthermore, Europe have gotten back to approach notable levels. The prosperous in Canada and China are as yet working their way back. Altogether, (66%) of the worldwide rich state certainty impacts their longing to make extravagance buys. This, obviously, is a main marker of generally speaking purchaser recuperation.

"One very compelling takeaway from the survey involves the affluent consumer's confidence," concluded Alam Khan.  "While most high-net-worth individuals are not only enduring, but may well be prospering through the pandemic, 80% of those surveyed noted that they were in good shape to withstand a recession. So, whether the financial headwinds are positive or negative, the affluent consumer will remain pivotal to the global economy."

ABOUT LUXURY PORTFOLIO INTERNATIONAL

LPI is the luxury marketing division of Leading Real Estate Companies of the World®, the largest global network of premier locally branded firms dominated by many of the world's most powerful, independent luxury brands. LPI attracts a global audience of visitors from over 200 countries/territories every month and markets more than 50,000 luxury homes annually. Well Connected.

Spotlight

Download this eBook to learn the 5 essential steps to building out your technology platform for the home buying and selling process.

Spotlight

Download this eBook to learn the 5 essential steps to building out your technology platform for the home buying and selling process.

Related News

REAL ESTATE TECHNOLOGY

Built Expands Commercial Real Estate Product Suite for Lenders With Acquisition of Nativ

Built Technologies | August 01, 2022

Built Technologies, a leading software provider for real estate lenders and the construction industry, announced that it has acquired Nativ, a leading deal management platform for commercial real estate (CRE) lenders. The acquisition will enhance Built’s existing product suite for commercial lenders and enable improved underwriting and asset management capabilities across construction, transitional, and stabilized assets. Built Co-Founder and CEO Chase Gilbert said, “After years working with top real estate lenders in the US and Canada, our customers began voicing their desire for us to help them solve new problems beyond just managing their construction loans. Our customers were experiencing difficulties with the underwriting and asset-management of loans as well as with aggregate portfolio management and reporting. When we were introduced to Nativ, the powerful tools to streamline these very processes were an obvious fit. This acquisition will also give Built access to a rich data set for how various real estate assets are performing, allowing us to provide innovative risk intelligence products to our customers over time.” “Built’s construction lending solution offers our real estate clients an enhanced banking experience and aligns with Regions’ goal of innovating through technology. The recently announced collaboration between Built and Nativ is exciting, as the combined platform specializes in both construction and stabilized commercial real estate transaction management and allows lenders to work in their native workflows–all while benefiting from a centralized, audited, and enriched data model in the cloud.” – Tan Phillips, Regions Real Estate Banking CRE lenders often silo information required to make intelligent lending decisions. Managing this information manually is expensive and exposes lenders to unnecessary risk. This approach prevents lenders from making strategic decisions in a timely manner, constraining growth and hurting portfolio profitability. Nativ’s platform solves this by: Providing a centralized, collaborative system of record that synchronizes deal data across each loan stage Enabling lenders to integrate portfolio management while preserving familiar or “native” workflows including spreadsheets, and complementing common loan origination and servicing systems Layering on alerts and monitoring to validate loan covenant compliance Delivering flexible portfolio analytics, reporting and monitoring to manage risks and automate common tasks “Joining forces with Built will fundamentally change how lenders and owners work together, Lenders have long been underserved by a lack of modern, industry-specific tools to speed the process of closing and managing loans. Together, we will change the way lenders and owners transact in the entire ‘built’ world.” Jeff Saul, Co-CEO and Co-Founder, Nativ Saul and co-founder Adam Kerr join Built’s leadership team. The deal brings Built’s headcount to over 430 and expands the company’s presence in New York City. Built now serves over 220 lenders, including some of the largest non-bank lenders such as AllianceBernstein, Prime Finance and Benefit Street Partners. About Built Built is the leading provider of construction and real estate finance technology. By providing a centralized platform for all stakeholders, Built enables increased efficiency, collaboration, transparency, and business agility—with decreased risk—allowing customers to improve the way that the communities around them are built and managed. The Built platform is used by more than 220 leading North American lenders and asset managers, and thousands of developers, home builders and contractors. About Nativ Nativ is a leading enterprise software provider to the Commercial Real Estate investment industry. Nativ has helped clients across the country invest in and manage billions of CRE assets. Products focus on workflow automation and the use of proprietary technology to optimize the underwriting and investment decision process through improved harnessing and utilization of deal data. Clients include funds, REITs, banks and insurance companies across the U.S.

Read More

REAL ESTATE INVESTMENT

Arturo Announces Strategic Partnership with Vexcel Imaging

Arturo and Vexcel | September 12, 2022

Arturo, the proptech company that delivers intelligent analytics from individual property to portfolio, announced today that it signed Vexcel Imaging, the leader in aerial imagery data, large-format aerial cameras and photogrammetry software, to be a lead imagery provider for its solutions. As part of the agreement, Vexcel will provide Arturo with true ortho imagery, oblique imagery and digital surface models (DSMs). In addition, 'Gray Sky' imagery or imagery taken after a catastrophic event occurs will be available for use. High-fidelity property insights derived from imagery are an increasingly critical asset for property insurers who are challenged to assess and identify vulnerable property characteristics during the underwriting and quoting process, so they clearly understand their resting risk. Arturo’s partnership with Vexcel offers the unparalleled imaging capabilities modern insurance carriers seek in today’s rapidly evolving property market. It will also allow insurers to create risk and property damage mitigation strategies with their policyholders as well as faster, more accurate responses to claims after a catastrophe. “This is a hard market for insurance. Carriers are caught between gauging their risk correctly up front and contending with the reality of increasingly volatile catastrophic weather events. Property insurers are tasked more than ever to have a thorough understanding of a property’s risk while also keeping costs down, so if an event does occur they can both keep regions insurable and their customer response rapid and efficient, We spent a lot of time collaborating with Vexcel to both ensure a partnership that was beneficial to our mutual customers and provide us greater flexibility in working with our insurance clients across the policy lifecycle. We recognized that not all imagery is created equal nor all machine learning analytics which is why coupling Arturo’s AI property intelligence solutions with Vexcel’s imagery will allow insurers to stay a step ahead of natural catastrophes, so they can accurately underwrite future policies and manage future claims with ease.” -Greg Oslan, chief executive officer for Arturo After much testing and rigorous analysis, we are pleased that Arturo has standardized on our best-in-class imagery to unlock better property insights for insurers, Our focus at Vexcel is to provide consistent, accurate and high-resolution imagery to customers who need a scalable solution in multiple countries. Using its AI and ML, Arturo analyzed properties in a variety of locations and found the results they needed to understand property risk and intelligence,said Rob Agee, chief operating officer at Vexcel Imaging. Vexcel and Arturo’s collaboration will initially provide imagery for the United States and Australian markets. About Arturo Arturo combines AI and machine learning models with property images to help businesses decide with intelligence from the property to portfolio level. Across the insurance, lending, securities and real estate markets, Arturo empowers customers with on-demand, accurate property characteristics and predictive analysis to tackle the biggest property challenges with efficiency, accuracy and confidence. About Vexcel For 30 years, Vexcel’s award-winning technology has led the photogrammetry and remote sensing industry. Using its professional-grade UltraCam sensors and a dedicated fleet of aircraft, Vexcel operates the world’s largest aerial imagery and geospatial data program. Vexcel collects imagery in 25+ countries including rural and urban areas in the contiguous United States. It provides a wide variety of high-resolution products from Oblique to True Ortho, DSM to Multispectral and Property Attributes. Its cloud-based aerial data improves workflows across a variety of industries.

Read More

BROKERAGE,MORTGAGE AND LENDING

Greater Lansing Association of REALTORS® partners with SkySlope to provide members access to breakthrough transaction tools

SkySlope and Greater Lansing Association of REALTORS | August 05, 2022

SkySlope, the leader in real estate transaction and brokerage software, is partnering with the Greater Lansing Association of REALTORS® (GLAR) to offer its premier transaction management solution SkySlope Suite — including SkySlope Forms and DigiSign — as a benefit to GLAR members. SkySlope's suite of products enables real estate professionals to centralize their workflow while remaining compliant. As the transaction management platform that serves over half of the top 20 largest brokerages in the nation, SkySlope is known for its 24/7 award-winning technical support and customized onboarding and training — both benefits that are now available to GLAR agents. "We are ecstatic to offer SkySlope to our members, SkySlope provides a valuable resource for REALTORS® to get the most out of their form libraries and elevate the transaction process across the state. Seeing as SkySlope is dedicated to building innovative, easy-to-adopt solutions, we know our members will thrive using SkySlope." -Aaron Fox, 2022 Greater Lansing Association of REALTORS® President SkySlope launched in 2011 with a mission to create technology that makes life better for real estate professionals. In October 2017, after several years of impressive growth, SkySlope became a part of the Fidelity National Financial family. This partnership reinforces SkySlope's commitment to its vision, providing them with greater resources to innovate. Since then, SkySlope has continued to create groundbreaking products for its growing community of over 450,000 real estate professionals. Located in Lansing, Michigan, the Greater Lansing Association of REALTORS® was founded with a mission to promote the American dream of homeownership through a free enterprise system. They provide support for their REALTORS®, allowing them the ability to take on industry challenges, protect homeowner and private property rights, and build communities. GLAR's partnership with SkySlope will empower its agents with top-tier tools designed to help them succeed. SkySlope Suite for GLAR members will include: SkySlope Suite - Flagship transaction management solution (includes DigiSign and Forms). DigiSign - Send documents for signature quickly and easily with intuitive (and free) features. Forms - Association and MLS forms that are always up-to-date and synced with data from the MLS. The way REALTORS® work today is changing as they take on more clients, adjust to market swings, and adopt more tech, At SkySlope, we are driven to provide tools that make an immediate impact in our customers' lives which is why we designed SkySlope Suite to be simple, flexible, and user-friendly. We are excited to work with GLAR to provide this benefit to all of its members,says Tyler Smith, CEO of SkySlope. About SkySlope Established in 2011, SkySlope is the customer experience platform managing real estate transactions from contract to close. Serving over 450,000 real estate professionals across the U.S. and Canada, SkySlope manages nearly 3 million transactions annually. SkySlope is on a mission to build solutions that reshape the real estate industry by creating the most powerful autonomous transaction platform. About Greater Lansing Association of REALTORS® Founded in Michigan in 1907, the purpose of the Greater Lansing Association of REALTORS® is to promote the American dream of homeownership through a free enterprise system by preserving the right to own, use, and sell real property. GLAR members work together to take on industry challenges, maintain the most accurate housing data, protect homeowners and private property rights, and help build communities.

Read More