Technology will play a major role in the real estate sector in the next two years; including addressing supply issues
Technology will play a major role in the real estate sector in the next two years; including addressing supply issues.
Innovations impacting real estate include the fast-growth of the tech sector itself which technology experts, polled by FTI Consulting for global law firm Osborne Clarke, believe will lead to some big changes.
For example, three quarters of respondent predict that technology firms will become significant office landlords with technology being expected to make real-time pricing of offices. They also predict that superior office tech will lead to occupiers being happy to pay a higher price for their space (83% agree).
When it comes to housing supply though, the experts see several ways that technology can help.
Key to this is the ability of tech to accelerate delivery through greater utilisation of limited spaces (84% agree), delivering cost effective housing (78% agree) and delivering greater density at key locations (82% agree).
However, they also expect technology to impact homeownership rates by making purpose-built rentals more attractive to the younger (73% agree) and older (70% agree) generations.
“When viewed as a whole, the research provides a fascinating insight into the 2020s when the built environment looks set to be re-written thanks to the likes of autonomous vehicles, advanced logistics systems and customised homes and offices,” said Conrad Davies, Partner and Head of Real Estate and Infrastructure at Osborne Clarke. “These profound changes have the potential to transform how we inhabit the land and how we design, deliver and manage the built environment.”
