As the millennial enters the market, the ideas around home ownership and method of acquisition are dramatically changing. So also is the advent of "e "and "m" commerce and the restructuring of commercial real estate.
After two major economic slumps in the last decade, the industry is beginning to see stability and a fundamentally different growth curve. Six emerging challenges that the real estate industry is witnessing and the solutions we are working towards include:
- The real estate industry is no longer a local industry. Emerging economies present a huge opportunity for expansion and growth.
- Cities, buildings and homes are being driven by the concepts of sustainability and eco-consciousness.
- Technology innovation drives intelligence in every aspect of real estate; buying, selling, renting, leasing, sharing and developing.
- Collaborating with governments is key. They are driving infrastructure development that not only supports jobs but also the competitive economic progress.
- Niche sector development is seeing a sharp rise in competition where hospices and old age communities and urban agriculture communities begin to dictate real estate commerce.
- Risk assurance and management will have to consider how conventional economic factors, in addition to geo-political and climate shifts, will have an impact.