HOW BLOCKCHAIN TECHNOLOGY CAN UNLOCK LIQUIDITY IN THE REAL ESTATE MARKET
David Goh Wei Rong
David Goh Wei Rong
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Abstract
Real estate is the largest asset class, yet it faces many market inefficiencies such as liquidity in the market and high barriers to entry. These inefficiencies make it difficult for smaller investors to enter and for those invested, a headache to exit. Some solutions have proven that real estate investments can be fractionalized and provide ease of trading through the use of investment products like REITs. However even these solutions come with their own drawbacks such as the inability to replicate a direct position into real estate. The emergence of blockchain technology has created a new vast landscape of possible solutions that can be applied to the real estate value chain. Tokenization is one such solution in to increase liquidity and investor participation. This paper covers the inefficiencies in the the real estate market by looking at past empirical research on liquidity, followed by a dive into the current blockchain and tokenization landscape and finally an empirical analysis of how tokenization has impacted liquidity in the Singapore industrial real estate market.
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2023-10-06
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