“You need to operate, create a brand, be customer-centric. Real estate has not had its Uber moment, but many people are looking to launch disruptive businesses in our sector” – Neil Young, Investment Chair, Young (UK)
The artcile below (or available here https://www.egi.co.uk/news/how-to-launch-a-resi-start-up-in-a-downturn/ ) suggests brand is important in real estate from the perspective of making build to rent projects attractive with different models.
– Shared residential living
– Varied levels of build to rent models – (like stars in hotels)
– AI and technology disrupting traditional ways of doing things
What else? Where do you see real estate making more shifts post-COVID?
Co-living spaces make a ton of sense in high-cost areas (like Toronto or Vancouver). Countries like Holland are exploring this but from the perspective of multi-generational living spaces so younger people can keep an eye out for us older folks!
Of course, co-working space is (or was) growing and not all at the ridiculous formulas of WeWork!
Where I am seeing a lot of attempts at disruption are any real estate area where the process can be easily automated. Residential real estate seems very resistant (or resilient) and still command amazingly 5% fees – but the likes of Zolo and others are finally making a dent.
Landlord/Tenant apps and tools are becoming prevalent and also things like Tenant tracking apps to report poor tenants and post court orders against their names to stop them renting or even getting credit.
COVID is certainly placing pressure on real estate generally with reduced commercial rents, Govt support and moratoriums on evictions but eventually, something has to give.