Assembling the Future of Real Estate
“The bird is freed". The world’s richest man, Elon Musk, announced the completion of his $44bn (£38.1bn) Twitter takeover of Twitter through this tweet. Elon Musk often fills social media with his actions and often tweets on a regular basis. He did so a couple of years ago when the news about his abode went viral—a Prefab house. Prefabricated homes, also known as prefab homes, are constructed using prefabricated building materials. These building materials are prefabricated in an off-site facility. They are then transported to the desired location, where they are assembled according to the plan and wish of the homeowner, reducing the construction prices impressively.
Well, don’t kid yourself. The billionaire owned several real estate properties, including seven homes in Bel-Air (at least). In 2012 Musk even purchased a luxurious mansion for $17 million, which he sold for $29 million in June 2020. But in a move that became the single largest marketing campaign for the prefab homes industry, Musk moved into a prefab house, selling most of his properties. According to one of his tweets last year, he currently stays in Texas in a $50k prefab house in Boca Chica.
Asia-Pacific is one of the fastest-growing prefab housing markets in the world. According to a report by Mordor Intelligence, the prefabricated housing market in the region is expected to grow at a CAGR of approximately six percent till 2027, driven by the demand for low to mid-rise residential buildings, project homes, and public housing, especially from China.