Real estate enters the Exponential Age
All of a sudden and seemingly out of the blue it is here. A new era, the Exponential Age, the 4th industrial revolution. Business models are changing overnight, billions of devices are connected to the internet, a new generation of professionals is ready to take on life with an approach we have never seen or actually heard of before. Let alone in the field of real estate.
Digitalisation is changing our lives, life style and our work. It is all very exciting but at the same time unpredictable and frightening. Kids no longer know what studies to choose, and what will the world economy be like? Subjects like green energy, artificial intelligence and autonomous cars are hot as can be. And while all of this is happening at an increasing and almost disruptive speed we turn to one comfortable certainty: people need a place to live.
Real estate has always been regarded as a very safe long term investment. And as the planet grows more crowded it is easy to see that this will not change any time soon. But, more is happening. As already in the near future an increasing number of people will do their work on-line the need to live near your job will get less. Going to the office will be replaced by taking the office home and working in the cloud. As people will always be looking for a beautiful place to make their home this will for sure make a difference for a province like Umbria. People from Rome and the big cities like Milan, Firenze and Bologna have for a long time enjoyed a second home in Umbria. Ad of course many foreigners too. So can we expect the working part of these home owners to change location and settle in Umbria full-time? As well as many others who do not own property here but would love to if only they could find work, or even better take their job with them?
It is a guess, and it will remain one for some at least some time to come. But as we have said before, Umbria features assets that are becoming more scarse everyday, features that are highly appreciated by most of us. Nature, tranquillity, space. One might argue that Umbria is a bit too quiet for a younger generation. We do however see things change on a daily basis already. And as soon as the ball starts rolling a growing number of inhabitants will be able to support a larger number of restaurants, bars, theaters, sports facilities and other entertainment. So while the world changes we are expecting one thing to stay the same, the quality of life in Umbria, and the logic of investing in property in this green slice of Italy.