Which hot trends will affect the real estate market in 2019?
Social needs, blurring of live-work boundaries, disruptive tech and short-term rentals among factors influencing how we buy and build homes
Three emerging factors are set to disrupt and transform the real estate market in the near future, according to a new by Montréal-based real estate website Shupilov.com.
“Builders are seeing more demand from the self-employed – who prioritize loft-like spaces that easily convert into home offices and workspaces – and Airbnb hosts – who prioritize ‘socially-focused’ architectural design such as open-concept living spaces and common areas, as well as smart security technology,” wrote the report authors. “‘Experience-based’ architecture is what provides leverage to real-estate-as-service companies such as WeWork and Airbnb, where design is carefully curated in response to particular demographic lifestyles.” (Check out the 'Smart Thinking' article on page 24 of the for more on home technology.)
The trend of moving further out of city centres could be reinforced by another of the disruptive technologies affecting real estate – the emergence of autonomous vehicles.
The final major factor that will hugely affect real estate in 2019 and beyond is already here, and that’s affordability, or lack thereof. With the cost of housing in major Canadian urban centres having soared in recent years, and even with some market correction unlikely to return to its former values, the market is forced to respond and adapt.