How does convergence of technology transform the real estate sector?


A lot has been discussed about the impact of technology on real estate, but the most profound change brought about by technology is the slow, but definite change in mindset towards being a service industry. The most obvious driver has been the success of sharing economy models - be it the marketplace model offered by the likes of AirBnb or the co-working model that aims to redefine corporate workspace. Like all sharing economy models, the focus is on providing under-utilised real estate resources on demand, usually at significantly lower costs than conventional real estate products. Proptech companies have been attracting significant capital and automation is the focus across the real estate value chain. From the perspective of developers, innovation in construction materials and technologies has redefined the boundaries of building scale and efficiency.

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