1. Property listing websites – These websites have considerably simplified the process of renting, buying, and selling properties. For the past years, brokers and agents were the only options for property sales and renting. it was time-consuming and expensive. However, the advent of websites such as Jumia House Uganda and Lamudi Uganda has changed the narrative. These sites have made it easy for property owners to list their properties for potential buyers and renters to make inquiries and transactions..
2. Online payments – The real estate sector has suffered from a lack of transparency and trust in the past, especially regarding payments. However, mobile money services such as MTN Mobile Money, Airtel Money, and Africell Money have helped make payments more secure, transparent, and reliable. According to the Uganda Communications Commission (UCC), the number of mobile money accounts on the continent had grown to 562 million translating into a penetration of 40 lines per 100 inhabitants.
3. Land Information System –
Property registration and acquisition process in Uganda. In the past, the process was paper-based and tedious, resulting in instances of fraud, corruption, and undue delays. However, by Land Information System (LIS) by the government, the process has significantly improved. The LIS is an electronic database that holds all land-related information. It enables easy access to land data and records, making property registration and acquisition more transparent and efficient.
4. Virtual reality (VR) –
It is another significant impact of technology on the real estate sector in Uganda. Through virtual reality, potential buyers and renters can view and tour a property remotely, eliminating the need for physical visits that may be time, resource, and health constraints. This technology has been crucial, especially during the COVID-19 pandemic, where physical interactions have been limited. Also virtual tours and walkthroughs of properties. The technology has way more potential which could lead to a more immersive experience for users.