Mixed-use projects which combine things like residential, commercial and retail will continue to grow in success during 2017. This is because these buildings do not only offer a home, store front or office space but they offer a fully functioning community. Placemaking has become an essential skill to create a space for those looking for a place to retire or even for millennials seeking to live where they work.
Success of the Industrial Real Estate Market
During 2017, it is expected that investment in industrial real estate will continue to thrive due to the continued demand and the perceived lower risk. With online shopping growing in popularity companies are needing an increasing amount of warehouse space for manufacturing, storage and distribution which is driving demand upwards. Since the digital world does not seem to be slowing down the demand for these types of spaces will only grow.
Technology has greatly changed the face of the real estate market, first it is changing the way we interact with potential tenants and it is also growing the expectations of tenants due to the amount of information they can research online before making purchases. Investors are now using things like google maps to get street views of an area in seconds, while as previously mentioned retailers are increasingly looking for warehouses to store inventory. Additionally, technology has even managed to changed the design and construction process behind a building. Since there have been so many technological advancements it can be hard not to miss opportunities to integrate existing technologies.