The Future of Real Estate: Trends and Predictions for the Next Decade
Introduction The real estate industry is changing at a rapid rate. From new technologies like blockchain and virtual reality to the rise of contractors, artificial intelligence, and FinTech—the future of real estate looks very different than it did just a few years ago. We'll explore these trends in more detail below as well as how they will impact your business and real estate investing strategy. Global Population Growth Global population growth is the most significant trend in real estate. The world's population has been growing at an average rate of 1.2% per year, but some countries have seen their populations grow significantly faster than others. In fact, ten countries or territories had a growth rate of more than 2%. In 2016, China had the highest annualized growth rate at 1.4%, followed by Niger (1.3%), Ethiopia (1%), Uganda (0.9%) and Yemen (0). The Rise of Contractors Contractors are the new real estate agents. With the rise of technology, there are mor...