The pandemic has changed the lives of people and the way we dealt with the surroundings. Nothing seems the same anymore. New trends have been introduced in the markets and industries, and the real estate sector is no exception. Novel ways to approach the challenges have been devised as the developers saw the opportunities amid the challenges.
Health and hygiene concerns have occupied the top priority which led to the digitization phenomenon propel and proliferate into every industry. From marketing to closing transactions, digital trends are revolutionizing real estate functions. Here are some of the digital trends that the pandemic might introduce in the day to day lives.
Contactless Office Spaces
With the stress on social distancing and avoiding touching foreign objects, the contactless spaces might gain the demand and attention. The devices and the machinery that is probable to be used or contacted by numerous people would be substituted with the contactless technology.
Doors and elevators might be replaced with sensors and voice recognition technology to avoid contact with the surfaces. The presentation screens are also an integral part of the workspace ecosystem which would be used by multiple users. The personal stylus pens and the laser pens might be used in place of the direct contact.
The workspaces with separate cabins and cubicles with regular and hygienic maintenance would be preferred. This ensures the safety of the employees which in turn increases their health and productivity at large. The office spaces need to remodel to corresponding requisites of the end-users.
Automation and Smart Buildings
The concept of automation and smart buildings is realized by the concept of IoT, the Internet Of Things. It is a technology that lets the devices communicate with each other through the internet to send and receive data without any hurdles. IoT has the high potential to make a difference to commercial real estate properties.
Smart buildings are already making their presence felt as many developers have started to choose them. Smart buildings are the places where there would be automated ventilation, power handling, security, and lighting. The devices exchange the data and co-ordinate and act through the internet. This reduces physical contact and ensures the safety and efficiency in the operation and also reduces the operational costs for the tenants. Smart buildings have the high-end infrastructure and attract high returns. These structures might be more pronounced in the wake of the pandemic concerns.
Virtual Reality Platforms
The physical checks of the asset are the essential part of the purchase process. Owing to the measures of the pandemic like social distancing, the physical tours to the property has become difficult. The developers are attending to the investors’ demands through virtual tours.
The properties are displayed to the investors through digital platforms where they can view the property at a 360° angle view to ensure the quality of the asset prior to purchasing. This ensures the credibility of the projects and assets and also increases transparency in the purchase transactions. The virtual reality initiative by the developers has brought some relief to the stalled business transactions during the pandemic and has boosted sales.
In the aftermath of the pandemic, the investors might still prefer these platforms owing to the convenience and feasibility.
On a concluding note, digitization has eased and transformed the industries at large. The digital trends are bringing solutions to the concerns that are prevailing due to the pandemic like social distancing and contact, as mentioned earlier. All the digital trends aim to reduce physical interaction and increase the security and credibility of the transactions. They also try to bring out sustainable and efficient approaches to the functionalities. This, in turn, raises the standards of the asset and the industry at large.
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