Pandemic accelerated real estate’s technology uptake

There have been a number of positive consequences of the pandemic and one of these is that the health crisis appears to have accelerated the real estate sector’s uptake of technology.

That is one of the main conclusions of the latest research report from law firm CMS, said partner Clare Thomas. “We asked our respondents by how much they felt the pandemic had accelerated technology and they said by four years,” Thomas explained.

She said that one company surveyed even thought real estate was 10 years behind the curve in technology terms before the health crisis, “so we’ve caught up,” she added.

The report, Real Estate Rebound, is the ninth in an annual series produced by CMS.

“Having moved on a year I think we’re in a time of real optimism and looking forward with real positivity,” Thomas told Real Asset Media’s Richard Betts. She added that two-thirds of the survey respondents were optimistic about the market. “That’s actually the highest level since pre-Brexit so that’s great.”