What exactly will the real estate of the future be like?
Due to the fact that the decline in income levels is observed in the majority of the population around the world, it is likely to lead to a demand for more budget-friendly properties. But, as a rule, reputable developers lower the prices a little, but you can sometimes find very good dumping offers on the secondary market. Also, there is the other side of the coin: in some countries, real estate is built more and more expensive, but within a single block, you can find both premium objects and quite low-budget, and you can buy home in california.
So, there will likely be several trends: the construction of elite objects will go on, considering the world's premium elite, and the secondary market will become cheaper with the decrease of the average consumers' purchasing power. Also, we should expect the construction of new budget housing stock with simpler finishing, infrastructure, and possibly smaller square footage - this was observed earlier, and such objects will remain the same in the future. But much will depend on the locations and regions: for example, an economy-class house will not be appropriate in Monaco; there are already many old and expensive housing stocks. The cost of living and maintenance is high, so there rush people with serious financial resources in connection with the construction of budgetary objects that are simply unprofitable. But in Greece, an affordable place to live, with a lot of old housing, the emergence of new low-cost facilities will be very popular.
One should not expect a new generation of futurism in the mass construction of specific materials.
But the option of ultra-modern technology in a pandemic may become paramount for many. In this case, we are not even talking about the smart home systems that are already available today. Still, the ability to control their home from anywhere in the world, for example, turning on the warm floor or setting the bathroom for the arrival of the tenants. In addition, technology will be developed to speed up the construction process and reduce the cost to the buyer. With the pandemic potentially continuing, many facilities under construction worldwide include automated check-in and no front desk if it is a hotel or apartment, robotic assistants, and special systems for disinfecting the space.
