Instead of economic trends, global processes may determine the commercial real estate sector in the future

By: Trademagazin Date: 2024. 04. 08. 11:20

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In recent years, as a result of the pandemic, geopolitical crises and economic uncertainties, the ability to plan for a multi-year period, which is the basis of the real estate sector, has practically disappeared. It is therefore time to pay attention to the profound global environmental, demographic and technological changes that can be seen and are fundamentally reshaping the world of real estate and retail. These include the integration of intelligent technologies into everyday shopping, the appearance of the alpha generation as a purchasing power, or the creation of a real estate and energy network that meets ESG requirements.

In recent years, due to the coronavirus epidemic and then the geopolitical crises, the commercial real estate sector was under pressure due to high risks, rising interest rates and investment costs.

“Although moderate consumption can still be expected due to high inflation, and geopolitical events can rewrite the planned scenario at any time, the main concern is that the ability to plan for a multi-year time frame has disappeared. However, in the real estate sector, it is essential to think ahead at least 5-10 years, which is why it is necessary to get to know the three global megatrends that will irreversibly reshape all areas of our lives. ESG, i.e. the consideration of environmental and social effects, the integration of artificial and digital technology, as well as increasingly complex demographic changes, from traffic to developments to shopping habits, will fundamentally transform the entire sector in the coming years.”

– said Miklós Gyertyánfy, Deputy Chief Operating Officer of the Gránit Pólus Group.