Carlo Schembri, exhibition director at Cityscape Abu Dhabi, reveals some of the key trends likely to impact the real estate industry in the months ahead
THE REAL ESTATE industry is a significant pillar of the world’s economy, however, it is a vulnerable sector due to the constant changing nature and the impact of a wide variety of global and regional factors.
Forecasts for 2018 predict the market will mature and developers, investors, and brokerages will embrace enhanced technologies that will shape the way the industry operates. This year will also see real estate practitioners working together to re-establish trust in the market, creating opportunities for everyone, and putting more efforts towards adopting sustainable practices.
Following are five trends that are expected to affect the real estate industry during 2018.
1.Technology The introduction of innovative technology, known as the Fourth Industrial Revolution, has a huge impact on the way the real estate industry operates. In 2018, real estate practitioners are expected to continue adopting and investing in technologies that give consumers more options, a clearer picture, and integrated data that help them make buying and selling choices. Examples of these are:
Blockchain: The technology behind cryptocurrencies that not only provides new payment methods that are shaping the real estate industry, but also acts as an effective tool to integrate market data anytime, anywhere.
This story is from the Gulf Business April 2018 edition of Gulf Business.
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This story is from the Gulf Business April 2018 edition of Gulf Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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