Merx’s core focus has always been delivering inspiring spaces for our clients, be it cutting-edge offices, versatile airport hangers, or timeless high-end resorts. Another property type of particular interest to us is car parks – a lesser talked about but important component of a city’s transport network.
Here are 4 factors we see influencing the future of car parks.
I. Car sharing replacing car ownership
For the last century, cars have been viewed as a personal asset. Looking forward, car ownership shall become less important, with the continuous growth of ride-hailing and vehicle sharing services, including the adoption of self-driving Autonomous Vehicles.
The Boston Consulting Group and World Economic Forum surveyed more than 5,500 consumers in 27 cities, across ten countries, on acceptance of Autonomous Vehicles. The results: more than half of consumers are ready to accept Autonomous Vehicles, of which Asian consumers are the most ready.
It is expected that with the adoption of Autonomous Vehicles, ride-hailing and vehicle sharing services shall become even more popular. This popularity shall contribute directly to a diminishing demand for carparks. Read more here Future of Car Parks.
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