A Laggard industry
we have an opportunity to make real estate better
In the Nordics, and the world, real estate is often treated as an asset class, ignoring both the perspective of the users and society. Investors have made money simply by holding or flipping properties and developments are executed by one-off constellations of agents with short-term incentives. As a result, little interest has been put in innovating the industry with regard to product improvement and adoption of technologies.
This laggard nature means that there is massive potential to improve the design, production and use of real estate products to make real estate better – for people, community, the planet and businesses.
3,000 years of building innovation…
1% is not enough
Just 1% of revenue in the construction industry is spent on research and development which has led to the section lagging behind the general economy in innovation and productivity. NREP therefore sees large potential to drive innovation within the industry.
Labour productivity has not improved