What is the Impact of E-commerce on the Real Estate Industry?
Ecommerce has changed everything in the last few years from our personal life to professional life. The e-commerce industry has mainly impacted the real estate industry in a very positive way. E-commerce has changed the buyer’s minds as well as their decision-making for purchasing something. Consequently, the impact and role of e-commerce on real estate can also be seen nowadays.
Few Impacts of e-commerce on Real Estate:
THE TREND OF BUYING A HOUSE: Buying a house is actually a dream come true for some people. The type of house is totally dependent on the income of the people. Eventually, the growth of e-commerce has increased the number of salaried people which hence impacts real estate. The decision to buy a house also depends on the family’s annual income. Real estate prices have risen in cities where e-commerce companies have strategically placed employees to service customers.
Co-Working Space: Commercial real estate is being redefined by co-working spaces. Many e-commerce companies outsource their technology as well as supply to other companies in the industry. The industry players work out of co-working spaces, which have recently seen an increase in demand.
Non-metro cities: E-commerce has created opportunities not only in the metro cities but also in tier 2 and 3 cities. One of the places where the e-commerce industry has grown over time is a very well-connected non-metro city with good infrastructure and good governance by the authorities.
Increase in Warehouse demand: Over the years, the popularity of warehousing, as well as logistics real estate, has increased. Depending on the size of their operations, large e-commerce companies are looking for warehousing facilities. Large distribution centers with convenient areas, the capability of operating around the clock, and the ability to meet customers’ needs with high-speed product delivery are all requirements for the companies.