The Real Estate Future is Now

The Real Estate Future is Now

Mar 3, 2019

Real estate is one of the oldest and most recognized investment assets in the world, but with technological advances, changes in markets and growing awareness of key concerns such as sustainable and ethically committed business models, also this industry is facing massive changes in the years to come.

I have been in real estate almost all my life, starting with owning and running a mountain lodge in Norway, venturing into other European markets and now with our own developments. It has been exciting to follow the changes in the market, with its up and downs. I do think, however, the changes that we are seeing in real estate today poses some of the biggest challenges, as well as opportunities, that this industry has ever seen. Here is why:

• Technology: Technology is changing every industry on the planet. It seems real estate developers and investors are yet to discover the true potential of how such opportunities will transform our businesses and the way we relate to bricks and apartments, but sooner or later also this business will find a new normal with the new opportunities that are now available, whether it is apartment viewings from your sofa or investments on the blockchain.

• New markets: The traditional markets in America and Europe are facing more and more competition. In the years to come reports show that South East Asia, closely followed by Central Africa, are the fastest growing real estate markets due to young populations and a growing middle class. For us, this of course also means a growing customer base that are looking for investments, housing and great travel destinations.

• Sustainability: With reports from organizations such as the EU, the WWF, and EAT, sustainability is on everyone’s lips and we are starting to demand more of the products and services we use, as well as the businesses that are offering such products and services. It is only natural that this will be followed with more demands, stricter laws and pressure on businesses to ensure that their business is based on a sustainable model.

• People: No matter how technical the real estate business becomes, I believe that it is important to not forget that the core of the industry always have been, and always will be, people. People to buy properties, people to invest in properties, people to stay in properties, people to work at the properties and people to interact with the properties, but also the habits of people are changing. We are more mobile, we have the rise of the work & travel wave and we are looking more for the unique experiences than the standard 4-star room.

Everyone can choose how we want to face these changes, and at New Nordic we see it as one of the most interesting and exciting times to be in real estate. We therefore have teams dedicated to research on how we can make sure that we stay ahead and stay prepared to embrace the changes that we are now facing. I believe you can choose to stay ahead, stay prepared or stay the same, and the latter one is the key to failure.

Recent Posts