Article Posted date
14 September 2023
KPMG, utilizing the international knowledge and experience of its professionals regarding the Real Estate sector, launches the study "The future of Real Estate ".
The study begins with representative worldwide performance indicators demonstrating how the sector is evolving and is being reshaped following important events that took place in the last twenty years. Next, the study focuses on the performance of the Greek industry, which appears to have rebounded strongly from the economic crisis of the last decade and the more recent challenges posed by the global COVID-19 pandemic. We have witnessed significant activity in the real estate development and investment markets from both major international and local investors.
There has also been significant occupier activity as companies across all sectors demand more and better-quality space. Activity in the residential market has been also strong, with increased demand from local and foreign buyers. The study also cites the three main categories of real estate players i.e. REICS, Developers & International funds, which are currently active in the real estate market and comprise in essence the Greek competitive landscape.
Further on, the survey analyzes the sector’s trends and forces of change. Proptech investments witnessed significant growth over the last years and continue to be on the lens of venture capital firms. Sustainability criteria and the race to Net Zero challenge are reshaping the built environment, which is said to be responsible for approximately 40% of the worldwide carbon emissions. This leads to an increased demand for innovative solutions throughout the real estate value chain, and specifically, in the space of energy consumption, circularity, off-site construction and mobility.
Finally, a major sectoral trend pertains to smart buildings / cities of the future. New technological developments such as IoT, Big Data, GIS, AI and Machine Learning are available to ensure future-proof buildings / cities, and also, that end users will have more insights and influence when acquiring, developing and maintaining a property.
