Digitisation is affecting all areas of life. This is also reflected in the relevant technologies of the real estate sector. Real estate trends such as artificial intelligence, robotics, 3D printing and synthetic biology will have a massive impact on the real estate industry in the coming years. Exactly what impact remains to be seen. But one thing is certain: Only those real estate experts who will integrate these developments into their business processes in good time will see long-term success.
Trend 1: 3D printed buildings
The 3D printing of buildings is the biggest and most promising real estate trend of them all. It makes it possible to build an entire house - without excavators or cranes, and with lower material and labour costs than ever before. Several houses have already been printed in Shanghai, China, and an entire office building was 3D printed in Dubai. However, these current 3D printed buildings are still far from having the quality of conventional buildings. Thus, it will still take some time before this trend will have a major impact on the local building industry, especially in the light of Germany having many stringent building regulations and standards.
Another technology in the real estate sector we should keep a close eye on is the so-called virtual reality method. This allows future home-owners to view the design and ambience of their new home in explicit detail using 3D virtual reality glasses. This technology could become a decisive advantage for forward-thinking real estate agents, especially when marketing new property developments. These brand new 3D glasses could also be helpful for prospects who are not able to physically view the property themselves. The person wearing the glasses can move around freely in and interact with the virtual environment, and even “feel” the incidence of light or size of the room.
Artificial intelligence has the capacity to solve mathematical and logical problems better than any human. For this reason, computers will be taking over many jobs in the coming twenty years that are still currently being performed by humans. Either physically as robots or invisibly in the form of software. While machines were previously used only to replace manual labour, they now also have mental capability and the capacity to learn. Artificial intelligence could represent a big opportunity for real estate experts. Developers could use computer-controlled structural analysis software in combination with design software to calculate building statics.
Strictly speaking, robots are not exactly all that new in the real estate sector. But if the developments in robotics are combined with improved sensor technology, artificial intelligence and networked computing infrastructures, this could soon lead to revolutionary technology. This is because manual labour in construction can be performed much quicker and more precisely - and thus also more safely - by robots.
It is still to early to say to what extent the increasingly sophisticated biotechnology will impact the technology used by the real estate sector. But one thing is clear: As soon as it impacts the production of building materials, the life cycle of buildings will rise significantly. In the not too distant future, there could be materials which repair or even restructure themselves through mitosis, or cybernetic walls which adapt to building occupant requirements.
Always stay one step ahead with Engel & Völkers
With all these new technologies on the horizon, the future of the real estate sector remains exciting. As a broker at Engel & Völkers, you are always up to date on the latest real estate trends. Inform yourself today about our diverse career opportunities.