Angeles, July 13, 2015 – Technological
innovation is radically changing how and where people choose to work, live and
play, essentially forcing us to rethink the built environment—and our place in
it. Elie Finegold, senior vice president of global innovation and business
intelligence at CBRE Group, Inc., recently discussed three emerging trends that
are reshaping the way people will use real estate in the future with Blueprint, CBRE’s global online
to Finegold, from broad access to WiFi and the ubiquity of smartphones to
ever-lighter laptops and more powerful tablet devices, technology has created
an inextricably connected world. With the virtual barrier between work and home
all but gone, the way people think about real estate is fundamentally changing.
industrial-era concept that there is a separation between work and home is
becoming increasingly less relevant,” he says. “Because you can work from
anywhere, space has become more fungible.”
an innovator and entrepreneur with expertise in real estate and technology,
says there are three emerging trends reshaping the way people will use real
estate in the future.
ability of people and machines to work from anywhere is transforming the
utilization of traditional spaces. “If
you conduct a survey and ask people, ‘Have you worked in a living room, a
bedroom, a plane, an office, an elevator, somebody else’s house—even a
bathroom?’ everyone is going to answer yes to almost every one of them,”
whole set of tasks that were once capable of only being done in an office that
we can now do from anywhere, and though working face-to-face with others will
likely never become obsolete, companies are going to be looking for much more
adaptable real estate frameworks as a way of managing both flex in the
workforce and the diversity of working habits,” he adds.
increasingly choose to share and crowdsource goods, services, funding and
transportation, the real estate market must adapt to new ways of distributing
demands, Finegold says.
sharing economy created affordable solutions for consumers during the Great
Recession and has offered unique income streams for people who need extra cash
or more flexible work situations. For instance, Airbnb and Uber have enabled
people to turn their homes and vehicles into sources of income.
migrate to cities, they may prefer to rent apartments or cars rather than own
them. Similarly, if more people are going into business for themselves as
freelancers or contractors, the demand for coworking spaces could outweigh the
need for traditional office space.
of autonomous vehicles and transportation—self-driving cars, multi-modal
trucking, distribution drones, etc.—coupled with collaborative models like
Uber, will make it easier for people and goods to move around more freely. It
may also ultimately change infrastructure needs, Finegold says, cutting down on
the number of cars on the road or in parking lots at any given moment, while
simultaneously creating a competitive market for space utilization.
will be huge opportunities for redevelopment of spaces previously used for
personal vehicles, from streetside parking spots to multilevel parking decks,”
of these trends may be in the distant future, aspects of all three already
exist, and they are quickly creating new modes for people to access real
estate, Finegold says.
take all of these things together, they are breaking down traditional work/life
balances and changing the real estate landscape,” Finegold
says. “Companies are attracted to places where there are live/work
opportunities for employees.”
Blueprint, CBRE’s global online magazine, is
dedicated to telling timely and insightful stories on the trends, influences
and ideas shaping our world, told through the lens of commercial real estate. Blueprint can be accessed at
About CBRE Group, Inc. CBRE Group, Inc.
(NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles,
is the world’s largest commercial real estate services and investment firm (in
terms of 2014 revenue). The Company has
more than 52,000 employees (excluding affiliates), and serves real estate
owners, investors and occupiers through more than 370 offices (excluding
affiliates) worldwide. CBRE offers strategic advice and execution for property
sales and leasing; corporate services; property, facilities and project management;
mortgage banking; appraisal and valuation; development services; investment
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