The recent social and technological movements demand new solutions to support the needs of urban consumers. Hence, 2019 is going to bring large-scale advancements in Canadian real estate trends.
How will real estate adapt to the growing social demands? Are they going to innovate meeting the expectations?
Let’s discuss the game-changing real estate trends that we can expect to see in 2019.
Meeting the Social Demands
Residential living spaces have become increasingly flexible these days. Though, the falling home prices mean Canadians will feel poorer. Thus, the real estate needs to offer uniqueness in their projects to drive customers involvement. Creativity is the key here, and people would pay a premium if the design and experience meet their expectations.
Builders should make designs in response to the demands of consumers. There is a really high demand in Canada for Toronto office spaces as most of the businesses are located in Greater Toronto Area. The recent trends show increased demand for loft-like spaces that can easily convert into home, office, or workplace. Socially- focused architecture favour Self-employed customers who prefer open concept living spaces and common areas.
Furthermore, the remote home buyers prefer to control their household amenities using smart devices. They address their needs as the builders implement smart technology functions. It includes electric door locks and automatic thermostats.
Implementing Technology in Real Estate
Technology is the growling engine that drives the real estate market ahead. Integrating technological innovations such as virtual reality, predictive analytics, and machine learning have improved the customer experience to a great extent. In other words, technology is changing the real estate market. So, how is technology going to impact the real estate business in 2019?
Here are some technologies that you’re likely to see carrying the real estate soon:
1. Autonomous vehicles
With the introduction of self-operating cars, the ease of commuting is going to bring new possibilities into real estate. Suburban living is going to become more popular among younger generations in the coming years. Better transportation facilities may shift buyer desirability to more abundant living spaces further away from cities.
2. Drones
With drones in the frame, real estate can now monitor sites and do video marketing more efficiently. It means drones may be a more common sight above homes. Also, they even help speedy delivery of building materials.
3. Virtual reality
VR has revolutionized the idea of marketing; the consumer can now experience or tour the space from the comfort of their home. Soon, this technology will allow buyers to participate in designing their living areas with the help of advanced software’s.
Affordability Concerns
As the tax and interest rates of properties rise, investors will now look beyond their markets in search of opportunities. The taxes imposed on properties has caused affordability concerns to single-family residential markets. Though, with the new trends in real estate, they are going to rebound in 2019.
Conclusion
Real estate is going to get a new life in 2019 and it’s good news for Canadians. The buyers can now expect a living space giving value to their expectations. With the introduction of technology and experience-based architecture, the customer can now get space meeting all their needs.