According to Freddie Mac’s November 2019 report, the U.S. housing market will “continue to stand firm” in 2020. And CBRE predicts that 2020 will be a great year for commercial real estate, with increased capital flows and solid property fundamentals. With fears of a looming broader economic downturn, it’s good news the real estate is in a solid spot.
While there’s a lot of good to come for real estate in 2020, the year won’t be without its challenges. Here’s what we expect to see in real estate next year:
Cybersecurity and Tenant Data Privacy
For commercial real estate, cybersecurity and tenant data privacy are increasingly important issues. Into 2020, they will continue to pose a challenge and become core business issues.
“The commercial real estate (CRE) industry now has access to a wider variety of personal data such as user location, communication, behavior, and sentiments,” explains a Deloitte Insights report, “and cyber threats are increasingly real and pervasive.”
As 2020 approaches, Deloitte recommends strengthening leadership and board involvement in technology adoption, addressing talent and vendor issues, and incorporating privacy by design. These actions will help lessen the issues associated with cybersecurity and data privacy for your organization.
Read the entire article in National Real Estate Investor magazine here.