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In 2021, virtual real estate prices in the Metaverse grew by an incredible 700%. Besides, this is only the beginning: the market is expected to grow 31% year-on-year in the next six years, as the rush to secure space within the virtual universe grows. Here, takes a look into the state of Metaverse real estate in 2022.

Buyer demand

There was a significant boom in Metaverse real estate purchases in Q4 2021 when Facebook announced it would be renaming itself as Meta and investing heavily in the development of the Metaverse.

In 2021, sales of real estate within the Metaverse topped $500 million – and are predicted to double by the end of 2022. In June 2021, Decentraland sold one land package for $913,000, which the developer Everyrealm turned into a shopping district, Metajuku (drawing inspiration from the Harajuku district in Japan).