The virtual future of Real Estate
As the team here at Bolt Burdon prepare for MIPIM 2020, titled “2020 – the future is human”, I have taken time to reflect upon an exciting ‘space age’ development coming to the housing market in 2020.
MIPIM is a major global real estate event that is hosted next month over the course of a week in Cannes. This is an opportunity for those in the industry to network, re-connect with old friends, forge new relationships and discuss the future of the global property market.
Following the general election, Brexit and as we enter into a new and hopefully more certain time within Real Estate, the industry is also now facing a time of technological innovation.
This week in particular has seen a plethora of articles on how Virtual Reality (VR) is set to transform the Real Estate world in 2020.
For many VR is associated with video games and entertainment, however this technology has huge potential and has for the first time seen the launch in Scotland of a VR development tour. Consumers can experience the finished development from the safety and comfort of a cosy air conditioned office. This is in stark contrast from the conventional means of viewing a muddy site and looking at 2D plans.
In many ways this is not the future but the here and now. We are now seeing the full potential of this via new social media and interactive platforms, VR lending itself to the very real possibility that in the future one might purchase a property without even leaving the comfort of their front room.
For some this is an exciting development and welcome progress. For others there is less enthusiasm, perhaps reflected by the ethos this year for MIPIM:
“People – humans – need to be at the heart of every strategy. Central to this is how cities respond to their citizens’ changing needs and the way people relate to each other.”
Client interaction with effective communication is key to the service we provide at Bolt Burdon and this is something we, as an industry, should never lose sight of as we welcome technological advancements.
As we move into this new dawn it should be acknowledged that human interaction will always be at the core of every service. This is certainly an approach I will follow, whilst at the same time embracing these new technologies.
You can also contact one of our other solicitors in the Residential Real Estate team here.