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‘I
t was the best of times, it was the worst of times’.
So
started Dror Poleg in his presentation on disruption.
The reference relates to his expectation of a booming
residential market over the next 10 years, but one in
which there will be winners and losers; the latter being the
incumbents who aren’t able to adapt. However, the literary
reference to Dickens’ tale of revolution is perhaps not to be
overlooked. The changes which Dror goes on to highlight
might feel that way for some.
Highlighting a shifting demographic that creates
a new focus for demand in residential with increased
expectations, Dror points to how long term commitments
are losing favour in the modern world. This should be
of concern to a real estate industry which relies on long
term commitments. The property industry has done well
so far to isolate itself from the impacts of change, but
Dror suggests that these fundamentals are now being
challenged. Even once sacrosanct differentiators such
as proximity to transport nodes will be less important
going forward, he argues, with the increased adoption
of autonomous vehicles.
Breaking
the Real Estate
Value Chain
By Richard
Pickering,
Head of Futures
Strategy
Proximity
to transport
nodes will be
less important
going forward
Dror Poleg, a New York based
expert on emerging real estate
business models, presented
his views on disruption in the
residential sector. Richard
Pickering, who leads our Futures
programme gives his reflections
on Dror’s presentation, and what
this might mean for UK property
companies.
FUTURE OF LIVING
CUSHMAN & WAKEFIELD
13
FUTURE OF LIVING