The world’s oldest asset class enters the 21st century: How technology is transforming real estate investment

Abstract

In this article by the editors of this special issue, the authors discuss the changes being brought to real estate investment by new technology and how the other articles in the special issue nest into this broad theme. New technologies being applied specifically to property (proptech) are bringing changes to all aspects of commercial real estate, from construction to building management to investment to data collection. But, the authors argue, the greatest effect of new technology on commercial real estate investment will be from technology outside real estate and how it changes the way in which space is used by end users. Technology has already started to alter the way in which space is used and the types and locations of property being demanded. The authors argue that the ability to adopt technology into the investment process and adapt to how technology is changing the space market will be a key determinant of investment success in the future.