At Percy, we are optimistic for the 2024 trends and market expectations! Here are some potential developments that could shape the real estate industry:

1. Technological Integration: The use of technology in real estate will continue to grow, with artificial intelligence, virtual reality, and augmented reality playing increasingly significant roles. These technologies may be utilized for property tours, home staging, and even project planning and design.

2. Remote Work Impact: The adoption of remote work continues leading to changes in housing preferences. People may prioritize homes with dedicated office spaces, flexible layouts, and access to high-speed internet.

3. Urbanization and Suburbanization: The ongoing urbanization trend is expected to continue, particularly in emerging market economies where buyers desire to be less dependent on private cars, opting instead for walking, public transportation, and ride-shared vehicles. Interestingly, there may also be a rise in suburbanization, as people seek larger properties and less densely populated areas for a better work-life balance.

4. Co-living and Shared Spaces: The popularity of co-living spaces, where residents share communal living areas while having private bedrooms, could continue to grow. These shared spaces cater to younger generations and provide affordable and flexible housing options in prime locations (very frequently in an urban environment).

5. Real Estate Investing: Real estate investment opportunities are likely to evolve, with alternative investment models gaining popularity. Crowdfunding and fractional ownership platforms might become more prevalent, enabling individuals to invest in real estate with smaller amounts of capital.

It's important to note that these predictions are speculative and based on Percy’s observations. The future of real estate in 2024 has a long time to playout, and we are excited to see what happens!