We have launched the Oxford Future of Real Estate Initiative to research and predict the changes faced by the industry over the next decade.

Real estate constitutes over 50% of the world's assets. Housing is a vital human need, and the commercial property sector delivers and manages the infrastructure needed for entrepreneurship to flourish. However, despite the importance of real estate as a global industry, the role it plays in the functioning of both developing and developed economies is under-researched. Relevant real estate research requires significant industry collaboration. The future of the industry will be influenced as never before by technology and innovation, and relevant real estate research requires significant industry collaboration.

Research

PropTech Report

PropTech 2020: the future of real estate

Our 2017 report PropTech 3.0: the future of real estate was the most downloaded Oxford Saïd report of that year.  PropTech 2020: the future of real estate is our 112-page 2020 update.

Image of tall buildings

The Future of Real Estate Transactions

A new report by Oxford Saïd examines the property transactions process and how new technologies may affect the purchase processes of the future. Statistics tell a story of a procedure stretched to its limit: conveyancers are undertaking 55% more work per person than they were in 2015, the average sale takes 11 weeks and 25% of all property transactions fail to complete. Meanwhile, an ever-increasing array of technologies are being developed that could transform the way we buy and sell property, with profound consequences for the real estate industry, businesses and property owners. So, what are these new technologies, why can’t we use them now, and how long will it be before we can instantaneously buy and sell property? Read the report in full (with clickable index) or view the shorter summary report.

Tokenisation report front cover

Tokenisation: the future of real estate investment?

Real estate tokenisation is a term used to describe the transfer and fractionalisation of the value of real estate assets, debt and funds into digital tokens using blockchain technology. It draws on the concepts of both crowdfunding and cryptocurrencies and promises a revolution in the way real estate is funded, bought and sold. PropTech (property technology) entrepreneurs across the world believe this invention is about to change real estate forever. Are they right?

A report released by the Oxford Future of Real Estate Initiative in collaboration with Bryan Cave Leighton Paisner, CBRE and EY explores the true potential of tokenisation and its likely impact on the real estate industry. Titled Tokenisation: the future of real estate investment?  The report is split across eight chapters and features extensive interviews with industry leaders, entrepreneurs and academics.

 

Proptech 3.0

Building

We have launched the Oxford Future of Real Estate Initiative, led by Professor Andrew Baum, real estate industry veteran and author of 2017's groundbreaking Proptech 3.0 report. The initiative will bring academics together with industry experts from leading businesses across the global real estate community. It will enable Oxford Saïd to employ a variety of research methods to understand the technology and innovation drivers of change in the real estate industry, and the research findings will be available to the public.

Andrew Baum
Andrew Baum

‘From Blockchain to Smart Cities, the real estate world is going through a period of extraordinary change,’ explained Professor Baum. ‘Thousands of extremely clever people backed by billions of dollars of investment are working hard to change the way it is traded, used and operated. 93% of tech start-ups fail to last more than three years, but those who prosper will have a radical impact, and it is of vital importance for companies to understand exactly what changes they will bring. This initiative will enable both the academic and commercial Real Estate communities to work together in preparation for a period for unparalleled challenge and opportunity.’

The Future of Real Estate Occupation

Future of Real Estate Occupation: Issues

Why do we scour numerous comparison websites, relying on customer satisfaction scores and comparative costs to determine where would like to reside for a long weekend, when the offices we work in every day go without such scrutiny?

“Location, location, location“ is now being challenged by “location, experience, analytics“. Through exploring the transformations occurring in the office sector, namely: the impact of climate change and carbon management; the drivers of co-working, flexible working and working from home; the uses of digital data to measure or improve worker performance and develop smart buildings; the impact of transport technology; and the cultural impacts of a global health pandemic, this report will explore why this new mantra will begin to hold increasingly true, and why delivering occupant wellbeing will soon become a financial imperative.

Data-driven market

PropTech: Turning real estate into a data-driven market?

The real estate industry is traditionally a slow-moving asset class. The recent hype around real estate technology or 'PropTech' stands in stark contrast to this traditional view on real estate. It has been argued that this ‘digital disruption' of the industry may lead to a digitalised global real estate market. Data-driven markets are often characterised by a winner-takes-all competition between firms that offer platform business models centrally focused on providing digital services for users, who 'pay' in providing more user data.

In this paper, we investigate whether PropTech is actually turning real estate into a data-driven market. The quantitative findings reveal that such trends are at work in PropTech. It is indeed an increasingly important, global phenomenon, with data analytics technologies at the core of the network of property technologies.

The findings presented here are important for users and owners of real estate. In order to benefit from the efficiency gains associated with the digitalisation of the market, they need to become aware of the business value of data they are generating in buying, renting, or managing real estate.

Housing sprint

The Oxford Housing Sprint assembled 56 leading practitioners, academics, and disruptors to bring radical realism and energy to bear on the UK's national housing emergency. Through an intensive three-day event at The Oxford Foundry on 15-17 July 2019, the group used a modified Design Sprint approach to tackle the long-term goal of seeing an increased number of homes delivered in ways that generate community benefits and sustainable economic growth

 

Research topics

The first confirmed research topics include:

  • Blockchain and property trading
  • Big data and the investment/occupation decision
  • Leasing or operating? Future management models for real estate
  • Technology and the smart city of the future

 

Partners

This is an innovative approach to applied real estate research that will create strong lasting partnerships between academics and industry.

The initiative will consist of a group of leading businesses who will support and engage in an ambitious programme of research at Oxford.

Our partners are:

  • Arcadis UK
  • Bryan Cave Leighton Paisner
  • CBRE
  • The Crown Estate
  • EY
  • Facebook
  • Grosvenor
  • Nuveen Real Estate
  • Redevco
  • Second Century Ventures

This is a unique opportunity to contribute to, and work with, the exceptional research faculty and students at Oxford Saïd.

Andrew Vaughan, Chief Executive Officer at Redevco commented: ‘As a retail-focused investment manager we recognise the enormous structural changes taking place in our sector. We believe these will be both positive as well as disruptive, will come at an astonishing speed and will significantly impact our business. We are delighted to join the Future of Real estate initiative working with like-minded partners to learn about and anticipate the impact of such technologies and innovations at an early stage.’

As well as co-funding research, the initiative partners will meet twice yearly to discuss continuing research development.

We are extremely proud to have these companies join us. They are funding world-class research into the future of the industry.

Professor Baum

Data partners

The initiative is very grateful for the cooperation and generosity of the following data partners:

 

Real Estate events

The Initiative is part of a broad range of activities designed to embed real estate within the school.

This encompasses a popular Real Estate elective on the Oxford MBA; an open enrolment executive education programme in Real Estate; a global network of Oxford real estate alumni that is being created through the establishment of the Oxford Real Estate Society, and the delivery of the annual Oxford Real Estate Conference.

The 2020 conference was held on Tuesday 25 February at Saïd Business School in Oxford. This was the sixth annual OxRES conference and focused on Responsible Investing. It explored trends in impact investing and how real estate's approach compares to the wider impact investing universe. The conference also looked at low carbon development and the environment, as well as diversity and the social dimensions of property. 

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