A study into the future of real estate has been conducted by CBRE, defining how 3 megatrends Globalisation, Demographics & Technology will impact the real estate sector. The paper addresses how these megatrends will impact real estate and what the risks will be of ignoring them.
The report identifies that Technology talent is shaping location decisions. “In CBRE’s 2015/2016 Americas Occupier Survey, corporate real estate professionals said that ‘talent availability’ was the leading decision driver when choosing a city, country or region.” This was followed closely by access to new markets & customers, quality of location infrastructure & amenities and finally, real estate costs.
The CBRE study also identified self-driving vehicles and their impact on real estate. Specifically stating “Transportation represents almost 50% of all costs in logistics, and autonomic vehicles could significantly reduce costs through labour savings. This will change where many industrial centres can be profitably located. Office and multifamily residential will be impacted as self-driving cars are also self-parking and will no longer need as much real estate devoted to parking, freeing up space for alternative uses. Urban areas with poor parking ratios by today’s standards, in turn, will become more economically viable“.
Read the full report about these Megatrends and how CBRE research predicts their impact http://www.cbre.com/about/global-capital/megatrends.