Toronto’s real estate industry heard Friday they will need to become increasingly nimble and adaptable as tenant expectations and building possibilities evolve.
Speaking at the Toronto launch of a 2020 trends report, PwC director of real estate research Andrew Warren says silos around real estate categories are blurring more than ever before.
The report by PwC and the Urban Lands Institute says mixed developments will become even more common and start to integrate more features like dedicated short-term rental space and package receiving rooms.
High housing costs could also create growth in co-living and other alternative housing models as both younger workers and seniors look for a place to live.
The report also found a rising unease in the industry because of high asset prices and rising costs for land and labour that could leave many in the industry holding back in the year ahead.
It says concerns around cybersecurity are also increasing as technology becomes integrated into real estate.
This report by The Canadian Press was first published Oct. 4, 2019.
The Canadian Press