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Technological innovation is radically changing how and where we choose to work, live and play, essentially forcing us to rethink the built environment—and our place in it.
From broad access to WiFi and the ubiquity of smartphones to ever-lighter laptops and more powerful tablet devices, technology has created an inextricably connected world. With the virtual barrier between work and home all but gone, the way we think about real estate is fundamentally changing, says Elie Finegold, senior vice president of global innovation and business intelligence at CBRE.
“This industrial-era concept that there is a separation between work and home is becoming increasingly less relevant,” says Finegold. “Because you can work from anywhere, space has become more fungible.”
Finegold, an innovator and entrepreneur with expertise in real estate and technology, says there are three emerging trends reshaping the way people will use real estate in the future.
1. Radical mobility
The ability of people and machines to work from anywhere is transforming the utilization of traditional spaces. “If you conduct a survey and ask people, ‘Have you worked in a living room, a bedroom, a plane, an office, an elevator, somebody else’s house—even a bathroom?’ everyone is going to answer yes to almost every one of them,” Finegold says.
“There’s a whole set of tasks that were once capable of only being done in an office that we can now do from anywhere, and though working face-to-face with others will likely never become obsolete, companies are going to be looking for much more adaptable real estate frameworks as a way of managing both flex in the workforce and the diversity of working habits,” he adds.
By 2020, 40 percent of workers in the U.S. will be self-employed as freelancers, contractors or temp employees, which will further affect the role—and primacy—of traditional office space, says Finegold.
2. Collaborative economy
As people increasingly choose to share and crowdsource goods, services, funding and transportation, the real estate market must adapt to new ways of distributing demands, Finegold says...
To view full article on CBRE.com, please click here.
