Contemporary technologies hold great promise. If employed smartly and effectively, they could solve long-running problems in many domains, including real estate. While the PropTech startup ideas we’ve seen come to life are exciting, there’s much more that could be done by entrepreneurs in that space.
Read more about Real Estate
This article explores a number of ideas for startups that will utilise technology in the real estate industry. Some of them may look familiar. Others are truly innovative. Hopefully, they’ll get your mind’s creative engines churning and maybe enable you to create the next big thing in PropTech.
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Read more about Real Estate
This article explores a number of ideas for startups that will utilise technology in the real estate industry. Some of them may look familiar. Others are truly innovative. Hopefully, they’ll get your mind’s creative engines churning and maybe enable you to create the next big thing in PropTech.
Digital Verification and Ownership Platform
Land scams and disputed ownership are rampant due to poor record-keeping. You could solve this problem with a blockchain-backed platform that allows for land ownership verification, title authentication (via partnerships with state governments), and a public ledger of disputes and resolved claims. Revenue may be generated through transaction fees, verification charges, and API access for real estate firms.Rent to Own Digital Marketplace
Most Nigerians can’t afford outright purchases, and mortgages are hard to access. This has created a gap between what real estate companies, agents, and landlords offer and what would-be buyers can pay for. Tackling this problem may involve spreading out payments over time, in a manner that allows buyers to rent the property until they complete payment for a full acquisition. You could build a digital marketplace in which tenants can enter long-term agreements with a gradual ownership model. This could be backed by a micro-investing pool (crowdfunded property co-ownership). Possible revenue sources for this business are platform commissions on transactions and partnerships with microfinance banks.Sign up for the Connect Nigeria daily newsletter
On-Demand Facility Repair App
Sometimes it’s hard to find skilled and reliable technicians who can fix things in a house. Many people would prefer accessing them through an app, from the comfort of their homes, just like they might hail an Uber or Bolt vehicle. With this app, they could book verified electricians, plumbers, and masons. Things like digital receipts, service tracking, and warranty options will help to secure transactions. The earning potential of this app depends on service charges deducted from customers’ payments and commissions collected from technicians registered on it.Real Estate Decentralised Autonomous System (DAO)
Most Nigerians find investing in real estate capital-intensive. The financial barrier to entry is often quite steep. But this is a problem that technology can help solve. One way to deal with it is to create a Decentralised Autonomous System (DAO). On this blockchain-backed system, users can invest in vetted residential or commercial property and earn rental income and capital appreciation proportional to their share of total investments. They could also vote on property management decisions. Your real estate DAO may earn through management fees, token exchange fees, and real estate appreciation.Informal Settlement Upgrade Planner
Millions of Nigerians live in informal settlements, comprising housing that is often unplanned and unsafe. These settings diminish the well-being of inhabitants and make it difficult for the government to reach them with essential amenities and services. You could build a GIS and AI platform that addresses this challenge by mapping informal settlements, simulating upgrade plans (e.g. road layout, sanitation, zoning), and providing data to the government and NGOs for urban planning. Data licensing to government, NGOs, and urban planning consultancies should provide a decent source of revenue for this startup.Register to attend the CN Business Mixer
Final Words
These PropTech startup ideas are just a small fraction of what you can build in that space as an entrepreneur. The opportunities are almost limitless, and the scope for growth is vast. And don`t forget to take a look on best ai note taker, this tool is really a great example of a good startup. Take advantage of the problem-solving capabilities of contemporary technologies and launch a startup that makes an impact in Nigeria’s real estate sector.Got a suggestion? Contact us: [email protected]
