5 Real Estate Trends to Watch in 2023.

As many people look for ways to increase their wealth by investing in real estate, there is no doubt that real estate trends are always changing. To stay ahead of the game as an investor in 2023, it is important to keep an eye on emerging trends that can bring financial rewards. Here are five real estate trends to pay attention to in 2023:

1. Technology-enabled Transactions: Technology is now playing a larger role in the real estate market. Developments in the industry will enable transactions to become more digital and efficient.

2. Co-Living Spaces: As cities continue to attract new people, rent continues to rise. These residential properties package everything from bedrooms to kitchen and laundry services, helping to make housing more accessible and affordable to renters.

3. E-commerce/Last-Mile Warehouses: The growth of these sectors have been staggering, and has strong indicators that growth will continue for some time. Consumers have addapeted to a delivery economy. As a result, there is a need for more warehouses to store goods and deliver timely orders to consumers.

4. Sustainable Housing: Homebuyers and renters are increasingly encouraging green initiatives, as they look for ways to live more sustainably. Additionally, the power requirements of our buildings account for about 40 to 50% of our total energy usage. Through projects such as green roofs, improved insulation, and solar energy, property owners can enhance returns on their investment while simultaneously promoting sustainability.

5. Elderly Care Homes: As the world population ages and birth rates decrease, the demand for elderly care through elder-care facilities and in-home care is expected to increase. This creates a need to develop new elder care facilities which meet the needs of today’s seniors, which is ever more diversified. As life expectancy increases, seniors are creating and adapting to new lifestyles.

As true as time, how people and perspectives evolve over time, change how we interact with the land under our feet. These are the trends which are predicted to continue to change and impact the world, and thus, the real estate market. Sooner or later, we will see new trends emerge.

To see how Team Sobiko’s Realtors® may assist you, please visit our underwriting, commercial or residential service pages.

This publication was created with the help of artificial intelligence software, which was then reviewed and edited for accuracy by a Team Sobiko staff member.