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Real Momentum for Virtual Property as Technology Takes Hold of Industry

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As one expert predicted during a panel discussion at the Mansion Global Experience Luxury conference on Wednesday, virtual property investments are expected to triple this year from last year.

“By 2022, virtual land sales will surpass $1 billion,” said Noah Gaynor, co-founder and CEO of Parcel, which provides tools for finding homes in the metaverse.

virtual event We focused on the intersection of technology real estate and input from our expert panelists, highlighting how the sector is adjusting in an increasingly digital and high-tech environment.

The concept of the Metaverse, a virtual online platform as opposed to the real world, can be difficult to grasp, not just for experience, but for real-world aspects such as currency, economics, and property ownership.

Becky Strum, Managing Editor of Mansion Global, speaks with Noah Gaynor (Purcell), Michael Gord (GDA Capital) and Marc Norman (NYU Shack Real Estate Institute) about the future of real estate in the digital domain.

“A lot of people are there and they don’t realize it,” said Mark Norman, vice president of the New York University Shack Real Estate Institute. “Whether it’s solitaire in a casino or a sim in a game. One way to look at it is that Flight He is like a simulator. You can do things and think, but that I can’t be there.”

Real estate for sale in the metaverse is primarily vacant land where people can build virtual shops and digital art galleries, whether on platforms such as Decentraland, Otherside or Sandbox. But experts say a new wave of demand for prefabricated buildings is coming.

“We’re starting to see designers and architects create them,” Gaynor said, adding that he expects that trend to grow in the coming years.

He received similar input from Michael Gord, co-founder and CEO of GDA Capital, a global digital asset investment and capital markets advisory firm. “There is considerable demand [prefab property] We also have new marketing tactics like build-a-thon,” he said.

While there may be many differences between virtual and real world real estate, at least one factor overlaps and that is how it is valued.

“What we actually saw was very similar to the real world today,” Gaynor said. “Just like in the real world, the closer you are to roads, water, and places of status, the more valuable you are. I have.”

And just like in the real world, that value can fluctuate.

“Virtual real estate prices are falling,” Gayner added. “But we see that real estate sales are becoming a bigger percentage of NFT sales.” Typically, virtual real estate makes up his 5% of all NFT turnover, but in this quarter he Nearly 14%, he said.

However, investors can gain an advantage by developing virtual land.

“Just like in the real world, if you buy land and don’t do anything about it, the return is low,” says Gord. “If you want to put your capital on land, it’s a high-risk, high-return investment, but if you don’t build on land, it’s riskier.”

For those considering a purchase, “On the fundamentals side, fundamentals are still strong and global development is still strong,” Gaynor said. And with prices so much lower than at their peak, virtual real estate is a ‘now is the time’.

Back in the real world, simplicity and security are hot topics in home automation, rising to the top of buyers’ wish lists.

Natalia Miyar Atelier founder Natalia Miyar said in a panel titled “The Future of Home Design and Automation” that “At the heart of every project is the client brief, ensuring that the client’s demands are met. That’s it,” he said. ‘ And increasingly, she said, that means sophisticated and simple solutions.

“Our clients want the simplest controls. The era of iPads in every room no longer works for them. They want an on and off button.” she said.

Mansion Global’s Rory Glaeseman discusses the future of home automation with Natalia Miyar (Natalia Miyar Atelier), Francis Nicdao (Pembrooke & Ives) and Jaqui Seerman (Jaqui Seerman Design).

Jaqui Seerman, CEO of Jaqui Seerman Design, says in California, “Our customers are definitely looking outward when it comes to home automation.” “The exterior of the house, the fire pit, the pool lights, the music, all kinds of ambient lighting. They’re all equally important.”

Simplicity also reigns in the great outdoors. “Everybody wants a very light touch where they can access everything from their phone without having to run around the yard,” she added. Sheerman said he hopes to control automation with fingerprints.

According to Francis Nicdao, principal and chief creative officer at Pembrooke & Ives, security is becoming more and more important among clients. “It’s very important these days. [clients] sleep at night ”

And with a more peaceful sleep on a carefully managed security card, it’s no surprise that there’s also a renewed focus on primary bedroom suites.

“Maybe parents want to get away from their children. I don’t know what it is,” Nikdao said. “But most importantly, the master bedroom has become something of a command station, managing things like security and lighting. [It’s] It’s a sort of escape or method to keep an eye on your kingdom.

In the world of sustainability, “sustainable luxury is here to stay,” says Scott Morris, director of carbon sequestration at Marisol Malibu. “These are Tesla and Patagonia at home.”

Green buildings are often thought of as frugal, but “I think that’s completely wrong,” says Aandreas M. Benzing, founder of AM Benzing Architects, who calls it “zero energy/passive home innovation.” Added in the titled dialogue.

“For luxury, I think it’s a must,” he said. There’s no reason why you can’t build something beautiful and bigger. ”

Leslie Hendrickson of Mansion Global talks with Andreas Benzing (AM Benzing Architects), Juhee Lee-Hartford (River Architects) and Scott Morris (Marisol Malibu) about the latest trends in green housing development and design.

In fact, sustainable choices can be made throughout luxury homes. “A lot of interior designers like to choose French he white oak,” Morris says, using American he white he oak from Allegheny, Pennsylvania instead. “We didn’t skimp on luxury. It’s still a luxury floor, but it’s better for the environment.”

However, according to Juhee Lee-Hartford, founder and managing principal of River Architects, homeowners looking to combine luxury with eco-friendly practices may need to adjust their expectations a bit. not. “Clients want lots of windows and tall spaces, so we have to balance that.”

One thing you shouldn’t worry too much about, however, is cost.

“It’s always hard to pinpoint costs, but generally it’s not that expensive to build a passive house,” says Benzing. Depending on the size of the building, the owner can expect a premium of 0% to 5%, he added.

And the cost of adding energy-efficient measures will quickly be recouped in savings, experts say.

According to Aston Rose co-founder and former basketball player Rod Watson, off the beaten track is king for Southern California luxury buyers.

“Privacy is always a top priority,” he said during a panel titled “Future Players in the Market: Athletes Become Agents.” His clients are looking for gated properties where “access is restricted or you can even see what’s going on there.”

Other amenities at the top of their wish list include open plan layouts, pools, hot tubs, gyms, movie theaters, and, in the case of NBA clients, basketball courts.

Our Group’s writer Abby Schultz asks Victor Simko, Vice President of Acquisitions at SRG Properties, and Rod Watson, CEO of Distinct Concierge Real Estate, to move from the playing field to the real estate market. Talk about athletes making transitions.

But while Michael Jordan’s highly customized, giant Chicago suburban home complete with a full basketball court has been waning on the market for a decade, the same won’t happen with Mr. Watson’s watch.

“I just have to be honest with my clients. I have to say to my clients, ‘I don’t think you’re going to benefit from paying this much or taking this much home.’ “I honestly think I have to tell you that this doesn’t make sense.”

However, it doesn’t happen often. Shedding the “silly” stereotype, he said, “Today’s generation of athletes and entertainers is knowledgeable.”

The competitive edge that once helped drive these real estate professionals in their previous careers as professional athletes still helps today.

“It just comes down to being competitive, and that definitely carries over. Be persistent and results-oriented,” said Viktor Simco, vice president of acquisitions and former snowboarder at SRG Properties. “I don’t mind tracking down and getting into the weeds to find that right deal.”

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