By The Numbers

Week of December 1, 2025

Executive Summary

This week establishes a baseline view of the on-chain tokenized real estate market using DeFiLlama’s Real Estate category. RealT accounts for roughly 46% of tracked assets, while the top three protocols collectively represent 87.6% of the market, reflecting a highly concentrated landscape with a long tail of smaller platforms.

Dataset

Data for this report is sourced from the DeFiLlama Real Estate category. This dataset does not track top projects such as Figure, Securitize, Rental and Blocksquare, and includes only the protocols tracked by DeFiLlama, not the full real-estate tokenization ecosystem.

Top KPIs

Metric	Value
Total Real Estate Market Value	$486.03M
Weekly Change	N/A
Top Protocol Market Share (RealT)	~46%
CR3 (Top 3 Concentration Ratio)	87.6%
Top 5 Market Share (Combined)	~95%+

Leaderboard — Top 5 Protocols

Market Value

CR3 Market Concentration Chart

Top 3 vs Rest of Market

Notable Platforms Not Included

Major real estate tokenization platforms not reflected in this dataset include:

• Blocksquare

• Reental

• Figure

• Securitize

• Propchain

• EstateX

• Parcl (synthetic real estate)

• CitaDAO

These platforms significantly expand the true market size beyond what is visible on-chain through DeFiLlama.

Weekly Insights

1. RealT is the dominant on-chain protocol, representing approximately 46% of tracked assets.

2. Market concentration is extremely high, with the top three platforms accounting for 87.6% of all assets.

3. Long-tail protocols contribute minimally, with most holding only a small fraction of the overall dataset.

4. This dataset captures only the on-chain segment as reported on Defi Llama, and excludes major off-chain or hybrid players, meaning the true scale of tokenized real estate is larger than the numbers shown here.

Footer Disclaimer

This report reflects only the subset of tokenized real-estate protocols tracked by DeFiLlama. The broader tokenized real-estate ecosystem includes additional platforms and off-chain activity not captured in this dataset. All values are approximate and based on weekly manual snapshots.