2023 Real Estate trends: embracing digital transformation (part 2)

In part 1 of “2023 Real Estate trends: embracing digital transformation”, we looked at how the real estate industry is embracing digital transformation driven by the advancing digital economy, with this shift promising enhanced efficiency, cost reduction and improved customer experiences. Whilst it presents challenges such as financial constraints and employee resistance, the benefits include streamlined processes and improved customer engagement. Arguably, adapting to these digital changes is essential for the real estate industry's competitiveness and relevance. The real estate sector is enthusiastically adopting digital advancements, emphasizing enhancements in property administration and investment strategies with noteworthy technological trends in real estate encompassing virtual reality (VR), artificial intelligence (AI) and the Internet of Things (IoT). Emerging enterprises that integrate AI and machine learning are securing substantial investment in the PropTech arena and anti…