Future Of The Real Estate Market: Predictions & Challenges

[Divanshu Arora]

I recently read an article about the future of the real estate market and further predictions for the same. 

Some of the important points to be mentioned here: 

• 1. The real estate industry is likely just at the beginning of a significant shift towards greater use of data and data-driven decision making. However, in a recent NAIOP article, real estate professionals are facing challenges figuring out how to actually utilize data.
• 2. The KPMG Global PropTech Survey 2019 confirms that 80% of firms still do not have “most or all” of their decision making led by data.
• The same report also hints at a “skills gap” — only 5% of real estate firms have transformation efforts led by someone with knowledge of data analytics.

What would you say would be the challenges ahead of us in 2022?