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Real Estate

  /  Real Estate

Now, more than ever, the focus of the real estate industry is on reshaping our work and lifestyle environments. With so much happening around the globe, the firms and professionals of the industry are wondering how it’ll impact real estate trends in the coming years. Innovative digital platforms that help in viewing, indulging, and completing real estate processes are adding great value to buying experiences and consumption patterns. Real estate companies now understand the importance of changing technological landscapes from a business standpoint and that is how to stay relevant and gain a competitive advantage based on their knowledge and experience. As the industry is gearing up for technological changeover, some trends like using Blockchain, IoT, AI machine learning, robotics, etc. will gain phenomenal momentum. As per Sonicorn analysis, the industry will fluctuate differently in different geographies, yet some certain common trends and statistics are worth having a look at.

• As work from home is becoming a standard across the industry and this work scenario is here to stay for some time, digital transformation is set to lead the overall game of real estate.

• With the use of advanced technologies and concepts, the factors of safety, health, and wellbeing will be given the highest importance industry-wide.

• The industry will collaborate more in dealing with and investing in the issues of decarbonization and reducing emissions to support building a healthy environment.

• The core real estate processes may observe a rapid shift from paper-oriented to digital-based.
• BlockChain may play an important role in supporting technological innovations like central digital ledgers, smart contracts, e-sign, e-notarization, etc.
• Virtual tours, virtual reality experience, and customized buying are the next phase of real estate innovation – no more flipping through the paper-based booklets or e-magazines.

• The companies will look at building digital capabilities to help speed up the construction processes – much of the work be done at the manufacturing plants and factories instead of doing them at the site of construction. Along with the focus on cutting construction time, building customized smart homes as per the owner’s preferences will get more attention.

• AI plus Big Data presents a great opportunity in the real estate sector from the perspective of making smarter decisions based on data sights than on market projections by industry experts. Their combination not only will provide the market insights to the top player of the industry but also let the smaller players get data on how their properties are bringing ROI on each stage.

• Banking on the capabilities of the Internet of things there will be huge investment from the industry leaders to build smart houses projects and smart cities.

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