Real estate has always shaped cities, and technology has always shaped real estate. From the elevators and telephones that made the skyscraper usable, to the car’s impact on the suburbs in the 20th century, technology has an intimate relationship with space – and with value.
The skyscraper solved a real estate problem by allowing for large amounts of rentable space on comparatively small plots of land in places where land is expensive: city centres. The advent of the motorcar allowed vast areas of land to be opened up for residential use, rapidly increasing the value of – and demand for – suburban and rural land.
Will digital technology have a similarly transformative effect on cities and real estate? At a city scale, the answer is yes – one only has to look at how online shopping continues to reshape asset classes like logistics, as well as the high street. But what about digital technology in the building; will it be as transformational as the elevator?
This report looks at how the commercial real estate industry is changing and explores how new business models will enable digital technology within buildings to create value.