Real Estate & Construction News Round-Up 05/04/22

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Construction payment apps are on the rise, the European Union proposes to block Russians from buying European real estate, warehouse vacancy rates hit a 27-year low, and more.

  • The Metaverse Group has made itself one of the most prominent virtual land owners, having invested more than $10 million into digital real estate purchases. (Katie Canales, Business Insider)
  • The European Union proposed to block Russians from buying European real estate in its six package of sanctions following Russia’s invasion of Ukraine. (Jorge Valero and Alberto Nardelli, Bloomberg)
  • Although smart office buildings are able to easily identify viruses, they are susceptible to hacks, raising privacy and cybersecurity concerns in the market. (Konrad Putzier, The Wall Street Journal)
  • With the terms of service for each metaverse platform being centralized and under complete control of a single company, it presents a wide range of issues for legal ownership of digital property. (Joao Marinott, Fast Company)
  • Construction payment apps are expected to streamline how contractors pay and get paid. (Robyn Griggs Lawrence, Construction Dive)
  • Industrial real estate vacancy rates have hit a 27-year low, driving record development of new warehouses and other facilities. (Supply Chain Quarterly)