How technology will change the role of real estate after the pandemic

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What is the future of real estate? originally appeared on Quora: a place to gain and share knowledge, empower people to learn from others and better understand the world.

Reply Kunal Lunavat, Investor and Operator, Managing Partner of Agya Ventures, at Quora:

How the investor focused on the intersection between humans and their built environmentI am watching closely as the ongoing pandemic will profoundly change our understanding and interaction with the artificial world. From the way we think about work and offices, travel and hotels, home and society, there have been dramatic changes in the expectations of consumers and society that will last for a long time.

At the heart of this change is the role that we believe is being played in the real estate industry. Specifically by asset class, here are a few topics that my company is passionate about and are looking into closely:

  1. Warehouses will strive for greater operational efficiency: The growth of e-commerce and D2C brands has provided continued demand for warehouse space with already record high occupancy rates. However, as consumers expect faster delivery times and a re-profiling tenant, the logistics industry will increasingly need technology to streamline its operations, provide flexible solutions and deal with more complex tasks on a daily basis.
  2. Community for rent: The current pandemic has left millions of people lonely and isolated, paving the way for an impending mental health crisis and a growing desire for safe personal contact with neighbors. We believe that the community will become increasingly important in the rental business.
  3. Dead real estate will adapt to new use cases: We may not think of these spaces as classic real estate, but car parks and rooftops represent some of the most underutilized parts of the RE ecosystem that surrounds us today. There are many ways to reimagine these spaces, such as eliminating parking lots and turning them into a hub for ghost kitchens, urban farms, last mile logistics, drone and electric vehicle charging stations. We expect to see more innovative and creative uses of these spaces in the future.

For landlords, property managers and real estate investors, it will be critical to acknowledge these changes and take unambiguous steps to reposition their assets and align them with post-COVID behaviors.

This question originally appeared on Quora – a place where you can get and share knowledge, give people the opportunity to learn from others and better understand the world.

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