How the real estate market has changed and how to prepare for the future – Latest trends in digital transformation | Cloud News
There are very few areas that have remained completely untouched by the disruptive force of the COVID-19 pandemic. Very few of them, however, have been as affected as the housing market. The type of inflation that we have seen over the past few months across the world has left experts wondering what kind of future we might see. This uncertainty has left buyers and sellers hanging on to news sites to see which way the wind will blow. For people working in the industry, the past year has been one of the most turbulent times in our lives.
As we approach the end of summer, we are at a crossroads. On the one hand, things are starting to return to something close to normal in many countries. Everyone was watching the UK very closely as it lifted all its lockdown restrictions, while the US served as a warning on how a new variant can shred the unvaccinated population.
For every positive step forward, there is a warning that things could change very quickly. The UK property market has seen a return to normal, but there are forces, whether linked to the pandemic or not, that will continue to have an impact. Here are some of the ways the market has been changed and some forces that will only get stronger.
The space race
One of the most widely reported forces behind the housing market boom during the pandemic was the urgent need for more space. When the world got locked, everyone was forced to question their priorities when it came to their homes. The convenience and appeal of a downtown location was suddenly much less appealing when you couldn’t leave your apartment. Residents of big cities realized that they could potentially get a garden and a second floor for the same amount of money in other parts of the country. That could subside a bit in the coming months, but it looks likely that many people will be looking for more space and greenery for some time to come.
An effort for greater environmental responsibility
Apart from the pandemic, the biggest problem every country has faced over the past two years has been the question of what we are doing to tackle climate change. What steps are we taking to make sure our carbon footprint is as low as possible? How can we change the way we do business to be part of the solution? When it comes to real estate, these questions span everything from the materials used in construction to the energy efficiency of these new buildings.
Other forces disrupting real estate may go away, but this one will only become more urgent and vital. It is also important to remember that the increase in extreme weather events will need to be taken into account. Will the demand for housing in previously desirable locations continue to be so high if they are at greater risk of major flooding? If you are interested in learning more about the impact of climate change and other global issues and trends on real estate, you might be interested in signing up for a future real estate program. By taking a course, you can learn about the real estate landscape from a range of international experts.
What is the future of the office?
One of the biggest issues facing businesses today is getting back to the office. When the pandemic started and we were all sent home, it was generally assumed that things would get back to normal at some point. We’re there, about eighteen months later, and we’re not there yet. Many companies have started pushing to bring their staff back under one roof, but with the number of cases increasing and disagreement over whether staff should provide proof of vaccination, it is clear that It is still a very controversial issue.
What does this mean for the real estate world? Well, just as the foreclosure meant that many homeowners started looking to buy homes with a nice big garden, it means everyone is looking for properties that will allow remote working as well. This is an even greater demand if more than one person in the household requires office space. It also means that we could consider the evolution of office prices in major cities as more and more companies reassess their needs. While it seems fair to assume that many businesses, especially larger ones, will continue to place great importance on having a central office, will they be looking to downsize?
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