“It’s a joy to see so many famous people and especially so many young people.” He is the secretary of the Committee of New Initiatives of the Círculo Ecuestre, probably the most elite private club in Barcelona: you can only join if two members support you and you pay 9,000 euros of non-refundable funds, to which you must add a monthly payment of almost 100 .
Inside the club you must wear a suit and tie, although in recent years this has been relaxed. dress code and on some occasions, like tonight, entry is allowed with a jacket and shoes. The young man is about to present the event Tokenization of investments in the real estate sector in front of around sixty people, 90% of whom were men.
“The tokenization of real estate is going to be a brutal paradigm shift,” begins the first speaker, who compares this phenomenon to the emergence of the internet. “The CEO of [el fondo buitre] “Blackstone says tokenization is the new era of the real estate market,” he adds to show that he is not exaggerating.
Tokenizing a property means dividing it into different parts represented by tokens, a unit of technological value. blockchain. This investment method allows you to digitally acquire small parts of a property and receive the generated returns monthly. It also allows its transmission in a few clicks.
The debate over the commercialization of housing and the difficulties of accessing it is light years away in this sumptuous room with frescoed ceilings and gilded moldings on the walls. In the previous groups, no one talks about the citizen indignation at the right’s refusal to debate vacation rentals in Congress.
In this meeting of rich people who want to earn even more money with real estate operations, the participants discuss among themselves “profitability”, the “market”, “equity“, “rumors” about future interest rate cuts.
“We wanted the individual high network had the opportunity to make a wallet own investment and compete with the big ones players“, continues the first speaker. “Solving the problem of the mid-level/high-level manager profile.”
The idea, this woman explains, is that with an investment of 10,000 euros, anyone can enter the real estate speculation market. A sector, explains another participant, that continues to grow: “We can predict that prices will increase by a double-digit percentage in areas where many people are concentrated, such as Barcelona,” he explains to the participants. “It is difficult to remember a situation like the current one.”
The entrance of technology blockchain The real estate sector is sold as a miracle boon that can benefit those who get into it. “This will revolutionize the real estate market,” the speakers insist. “We all know that this market is slow, that there are tedious processes and bureaucracy that make everything less fast than we would like.” With tokenization, they insist, all of this will disappear.
“The songs can be broadcast 24 hours a day, seven days a week, 365 days a year,” the third speaker says, announcing a party that no one would want to miss. “We’ll be able to transmit the songs instantly!”
Speak Real Estate Acquisitions Manager of the organizing company. He explains that his company focuses its activity on finding entire buildings, renovating them and selling them. “Our investors get between 15 and 20% return over a period of 12 to 18 months,” he explains. And he adds a lament: “The problem is that it is increasingly difficult to find these properties in Barcelona.”
As a solution, he says, they will go to the outskirts of the Catalan capital to carry out similar operations. “Now we are finishing one in Sitges,” he says. “And we are finalising an operation in Cerdanya, which, as many of you know, is a very attractive area with a large market.”
“Last year we invested 1.2 million, this year, in 9 months, we have already invested more than seven,” says the person in charge of looking for buildings for the investment fund that organized the conference. “You have to break a lot of stones to find opportunities.”
One might think that tokenization is very profitable for this investment fund, but the stakeholders are quick to add water to the wine. “Everything we tell you is still not allowed, even if some are already doing it,” emphasizes all those who speak out. “Technology is always one step ahead of the laws.”
They explain, however, that in their journey they already have all the technology developed.”“at home” to be able to start earning money once the European regulations that allow it are drawn up in Spain.
“Let’s be clear: we are not yet tokenizing,” everyone emphasizes. “We are very technological but also very legal.”
