connect with us
Greece's latest tourism industry news by Greek Travel Pages (gtp)

PwC Says Real Estate Still an Investment Asset but Adaptation a Must

Real estate remains an asset despite political and economic uncertainty but investors will be required to adapt to new business models, according to the “Emerging Trends in Real Estate: The Global Outlook for 2019” report released by PwC and the Urban Land Institute, this week.

According to the report, which looks into technological, social and demographic trends on the built environment through 27 world industry leader interviews, the previous year’s instability is likely to continue in key markets throughout 2019, but the property market will still attract capital and investor interest.

The PwC report found that the acquisition of income-generating commercial real estate grew by 3 percent to 963.7 billion US dollars in 2018, the third highest annual total on record after 2007 and 2015.

Analysts note that the increase in overall global deal volume demonstrates the strength of demand for the income real estate offers, particularly in times of geo-political instability and 2018’s challenging economic conditions.


However, they do add that 2019 is expected to be a testing year with the biggest challenge being the possibility of “accelerated obsolescence”.

According to PwC findings, a valuable asset in today’s changing reality is one that provides the amenity and experience that the end users require, whether they are office workers, shoppers or residents.

Technology is set to play a key role in measuring feedback from users and in creating a clearer link between new uses and value.

Owners will need to forge closer ties with occupiers, to collaborate and assess what’s working and what’s not.

Meanwhile, the report goes on to add that emerging trends include design-led brands setting the pace in hotels; companies like CloudKitchens offering a new use for old assets; and e-commerce giants like Alibaba diversifying online and in-store products.

Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece.
About the Author
This is the team byline for GTP. The copyrights for these articles are owned by GTP. They may not be redistributed without the permission of the owner.

Add your comment