Tech firm poised to “revolutionise” property investment

A technology firm has announced its plans to “revolutionise the property investment sector” through utilising technology to divide land titles into small, affordable pieces.

Lakeba Group will use blockchain technology to fragment property titles into what it has dubbed ‘bricklets.’

CEO of Lakeba, Giuseppe Porcelli explained, “Bricklet will fragment property deeds into individual units and make them available for purchase through an online market.

“As a purchase is made, the fragment of that property deed will be transferred from vendor to owner, who will be listed directly on the property deed.”

The more reasonably priced bricklets can be purchased by individuals who are unable to afford entire properties, with the bricklets able to be traded in the same way whole property titles are bought and sold, only incurring pro rata costs.

According to Darren Younger, head of commercialisation at Bricklet, investors can now buy into real estate “very quickly and easily.” Further, bricklets will make diversifying one’s property portfolio a much more attainable goal.

Two apartments in Adelaide’s recently completed residential property, Kodo on Angas Street, will be the world’s first properties to be fragmented in this way.

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