The future is urban: The advance of technology and urbanisation means that cities are here to stay
One of the key issues facing real estate investors is the ability to separate cyclical changes from long-term structural ones when assessing the future potential of any particular asset class. We have already seen this play out in the retail sector as the impact of technology and online retail continues to permanently reshape the landscape.
But what about technology’s impact on other asset classes — offices and cities, in particular? Knowingly or unknowingly, technology touches our world on a continuous basis and around the clock. So, are cities profiting from the wave of technological advances or not? And do real estate investors still want, or indeed need, to buy offices?
There is much talk about how technology is enhancing our work-life balance. In theory, it is making it easier for companies to harness knowledge that is spread far and wide across their employee base. This leads to the logical conclusion that cities may not hold the significance that they once d