Europe modern complex of residential buildings. And outdoor facilities.
What is the future of real estate? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.
Answer by Kunal Lunawat, Investor and Operator, Managing Partner at Agya Ventures, on Quora:
As an investor focused on the intersection between people and their built environments, I’ve been closely following how the ongoing pandemic will change our understanding and interaction with the built world in deep ways. From how we think about work and offices, to travel and hotels, to home and community, there’s been a sea change in consumer and societal expectations that’s here to stay.
Underpinning this change is the role we see technology playing in real estate. Specifically, across the asset classes, here are a few themes my firm is excited about and exploring keenly:
Warehouses will look for greater operational efficiencies: The growth of ecommerce and D2C brands has ensured continued demand for warehousing space, with occupancy levels already at record highs. However, with consumers expecting faster delivery times and a changing tenant profile, the logistics industry will increasingly need technology to streamline their operations, provide flexible solutions and navigate greater complexity on a day to day basis.
Community for residential rentals: The current pandemic has left millions of people lonely and isolated, paving the way for a looming mental healthcare crisis and increasing desire for safe, in-person connections with neighbors. We believe that community will gain more importance in the residential rental space.
Dead real estate will adapt to new use cases: We may not think of these spaces as classic real estate, but parking lots and building rooftops represent some of the most underutilized parts of the RE ecosystem around us today. There are plenty of ways that these spaces are being reimagined: doing away with car-parks altogether and making these lots a hub for ghost kitchens, urban farms, last-mile logistics, drone and EV charging stations, for example. We expect to see more innovative and creative uses of these spaces in the future.
For landlords, property managers, and investors in real estate, acknowledging these changes and taking unequivocal steps to reposition their assets and align them with post-COVID behavioral patterns will be critical.
This question originally appeared on Quora – the place to gain and share knowledge, empowering people to learn from others and better understand the world.