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These Real Estate Trends Will Be Game Changers in 2019

Emerging real estate trends to watch in 2019.

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Canadian real estate trends in 2019 are expected to form in response to these three social and technological movements:

  • The way people live and work is becoming increasingly remote. How will real estate adapt?
  • The emergence of VR, AI, autonomous vehicles, and other disruptive technology. Will the real estate industry innovate too?
  • Uncertainty in economic markets has pushed all industries to address affordability as a forefront issue, including the real estate and construction sectors.

Last but not least, an increasingly environmentally conscious urban consumer (and stricter policies on the regulatory end) will reinforce sustainability trends when it comes to energy consumption and sustainability in new real estate developments.

1. Meeting evolving social needs 

Emerging Real Estate Trends 2019 Montreal Canada

 

As residential living spaces become increasingly flexible, they must cater to a more diverse set of needs, while maintaining enough uniqueness to drive buyer desirability.

Builders are seeing more demand from the self-employed – who prioritize loft-like spaces that easily convert into home offices and workspaces, and Airbnb hosts – who prioritize “socially-focused” architectural design such as open concept living spaces and common areas, as well as smart security technology.

The remote home buyer also wants to control household amenities, such as lighting and heating, from mobile devices. This is being addressed at the planning stage, as builders implement technological functions that easily support smart devices (for example, electric door locks or automated thermostats).

Moving forward, creativity is key when it comes to the design of real estate spaces. People are looking for unique experiences in their home and work environment, and are willing to pay a premium for it. “Experience-based” architecture is what provides leverage to real-estate-as-service companies such as WeWork and Airbnb, where design is carefully curated in response to particular demographic lifestyles.

In the retail space, landlords are also responding to rapidly shifting consumer needs by integrating sophisticated data analytics into their decision making process. For example, the owner of a supermarket might use multi-dimensional data analytics to evaluate consumer decision making or implement new product offerings. Buildings that are conducive to highly tech-driven operations will therefore be prioritized by business owners.

2. Technological transformation in real estate

 

As property taxes and interest rates rise, and with many Canadian real estate markets shifting into a heated seller’s market, investors will look beyond their own markets of residence in search of investment opportunities.

As of 2018, PWC’s list of 10 most interesting Canadian markets include:

  1. Toronto
  2. Vancouver
  3. Montreal
  4. Ottawa
  5. Quebec City
  6. Winnipeg
  7. Saskatoon
  8. Halifax
  9. Edmonton
  10. Calgary

Montreal Real Estate Trends – 2019

Emerging Real Estate Trends 2019 Montreal Canada

Montreal’s residential construction increased last year, in response to low levels of both condo and family home inventory. It should continue rising through 2019. The market has attracted increased interest from foreign and out-of-province investors, as it remains affordable when compared to real estate prices in Vancouver and Toronto.

There is a high level of demand in the boutique and retail space, where retailers have tailored needs that are constantly evolving as consumer needs do. The key to prolonged success in this field will be to evolve creatively, and maintain flexibility.

The office market is stable, with major commercial developments planned for the next five years.

Industrial land continues to be in demand – there is currently a shortage of vacant industrial land on Montreal Island, forcing companies to relocate to suburban areas.

All in all economic growth is predicted to reach 2.2% in 2019 and 1.9% in 2019.

Montreal neighbourhoods to watch in 2019 include:

  • Hochelaga-Maisonneuve
  • Cote des Neiges
  • Pointe St Charles
  • West Island South
  • Villeray

Set up an alert for a real estate opportunity in Montreal.

 

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