Index
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The real estate market is among the most important from an economic point of view in Italy; in fact, according to forecasts, by 2050 its value will reach 31% of the national GDP. Among the factors that will most influence this sector are the digitalization of the buying and selling process, the integration of artificial intelligence and the management of the climate crisis that the entire planet is facing.
These are issues that consumers are also questioning and starting to consider urgent, which is why Casavo wanted to investigate what the characteristics of the real estate sector of the future will be according to Italians.
The impact of the climate crisis and artificial intelligence
The results of the research commissioned by SWG reveal that 71% of those interviewed agree that the climate crisis will impact on property prices, a percentage that rises to 81% if we consider the responses of Generation Z alone, in contrast to what was declared by Baby Boomers (67%).
According to respondents, technology will also be central to the buying and selling process: 1 in 2 Italians think that the real estate of the future will be a mix of digital services and support from agencies. 67% agree that artificial intelligence will offer solutions more compatible with the needs of those who want to sell or buy a house.
The future of real estate agencies
For 45% of those interviewed, in 2050 real estate agencies will offer virtual visits of properties with augmented reality; 39% think that the entire property buying and selling process will be digitalized; for 36%, digital contracts with electronic signatures will be the norm.
Despite the increasingly central role of technology, 3 out of 4 Italians believe that the "physical" real estate agent will play a fundamental role in the future too. For 26% of Italians, this figure will not disappear never, a consideration made especially by members of Generation X (27%) and Baby Boomers (33%).
Among the added values offered, the resolution of bureaucratic problems and support during the negotiation phase (50%), the competence and in-depth knowledge of the local market (42%), emotional support and personalized consultancy (35%), the guarantee of transparency and fairness in transactions (32%) and the control of the work of algorithms and artificial intelligence (26%).
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Our research shows that people expect a mix of digital services and human support from the real estate market of the future. At Casavo, we adopt a flexible approach that we adapt based on our customers' needs. Thanks to our technology, we can manage many steps of the real estate sale, from the valuation to the digital signature of the sales mandate, which we recently introduced. However, these innovations go hand in hand with the skills and human value of our team, comments Mikel Amilburu, Chief Product Officer of Casavo. “In addition to technology, companies must develop innovative and sustainable solutions to meet the needs of consumers, who are increasingly attentive to environmental issues.”
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Methodological note: Survey commissioned by Casavo to SWG and conducted using the CAWI methodology on a sample of 1,200 adults residing in Italy registered with the SWG online community. The survey was carried out between Wednesday and Friday. 5 and Mondayì June 10, 2024.