Three emerging factors are set to disrupt and transform the real estate market in the near future, according to a new report by Montréal-based real estate website Shupilov.com.
Remote working and self-employment, disruptive technology such as autonomous vehicles and virtual reality, and lack of affordable housing are the three key trends that will affect the real estate market next year and into the future, said the report.
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Home as office, business or service
The blurring of live-work boundaries and changing social needs are affecting the kinds of homes buyers want, especially as more and more people work remotely or are self-employed, according to the report.. This creates a need for work spaces in the home, whether that’s home office space or a live-work unit. Added to that need is an increased desire for homes – or spaces within homes – that can be rented out as short-term rentals on websites such as Airbnb.
Remote working also means that there is less of a need to live close to downtown cores, and buyers may choose to gain more space in homes further away from urban hubs.
The trend of moving further out of city centres could be reinforced by another of the disruptive technologies affecting real estate – the emergence of autonomous vehicles.