This value will shift from properties with a convenience premium reflected in their current price (e.g. near public transit, short commute) to properties that currently have an inconvenience penalty baked into their price(e.g. long commute, far from city center).
There must be a real utility for the token. Minting the token and establishing a market-price for the token is required in order to make the underlying software protocol and the token economy model function. If the purpose of the token sale is solely to raise capital for the project, that is not enough. Capital can and should be raised via equity and debt instruments, not by selling token assets.