Technology has been changing our daily lives – from where and how we work to how we spend our free time. These changes cause us to rethink our current environment, from our homes to workspaces.
With the ubiquity of smartphones and travel-friendly laptops and tablets, technology has made it easier than ever to connect with the world. The virtual barrier between work and home has been essentially eliminated, which may cause us to rethink how to approach real estate.
Here are three emerging trends reshaping the way people will use real estate in the future:
1. RADICAL MOBILITY
By 2020, 40 percent of workers in the U.S. will be self-employed as freelancers, contractors or temp employees, which will further affect the role—and primacy—of traditional office space.
The ability of people and machines to work from anywhere is transforming the utilization of traditional spaces. People work from all over – home, office, on the go, often in transit. For most jobs, there is no longer a set of tasks that are only capable of being completed in an office. While working face to face is still an important part of most careers, companies are looking for more adaptable real estate frameworks that can effectively manage virtual and in-person employees in the same workspace, as well as support diverse habits of individuals.
2. COLLABORATIVE ECONOMY
As more people move back into cities, many prefer to rent cars, apartments, and homes rather than buy them. Freelance jobs often mean a more flexible lifestyle- Airbnb and Uber have enabled people to turn their homes and vehicles into sources of income. The demand for coworking spaces may also grow. With fewer employees in a traditional office space daily, there may be a decreased need for the traditional space.It is up to the real estate market to adapt to new ways of distributing demands and leverage real estate leads.
3. TRANSPORTATION REVOLUTION
The rise of autonomous vehicles and transportation—self-driving cars, multi-modal trucking, distribution drones—along with collaborative models like Uber, will make it easier for people and goods to move around more freely. It may also ultimately change infrastructure needs, cutting down on the number of cars on the road or in parking lots, while also creating a competitive market for space utilization.
While some of these trends may be in the distant future, aspects of all three already exist, and they are quickly creating new modes for people to access real estate. Together, these trends are working to break down the standard work mold and life plan. Companies are embracing the change, and working to find attractive real estate that entices freelance and full-time employees.
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