By how many years do you believe technological adoption in real estate in your sector has been pushed forward due to COVID-19?
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Many people have speculated over how quickly COVID-19 has accelerated technological adoption within real estate – but now we have a view from more than 4,000 industry professionals, office occupiers, renters, retail experts and life sciences professionals: five years.
Across all groups this is the most common prediction although the mean response is four years. The impact of lockdowns and the need to rapidly embrace technology is extraordinary: how many people used Teams or Zoom for business 18 months ago?
At the beginning of 2020 the real estate industry was broadly speaking 10 years behind where it needed to be. It has caught up massively – but is still three to five years behind where it needs to be, in my opinion.
Paul Bashir, Managing Director and CEO Europe, Harrison Street
