Towards the real estate project. The architect in the new paradigm of real estate investment

Abstract

[EN] After the financial crisis of 2008, which hit the real estate sector particularly hard, there was a paradigm shift in the real estate investment process. Traditional development was drastically reduced, giving rise to the emergence of other agents. The model of analysis, decision-making and development has been redefined. It is assimilated to other types of more abstract investments, while maintaining a clear local component. A tour of the different investment mechanisms that have burst into the sector is made like venture capital funds, crowdfunding platforms, participatory companies and investors with foreign capital. This paper deals with the question of how external circumstances have an impact depending on the objective of the investment. And another point analyzed is the real estate as a product or the real estate as a tool for the sale of another product (tertiary sector). The aim of this paper is to analyze the position of the architect in the new context of identifying opportunities in the real estate sector. In this new context the architect plays a key role in the investment strategy taking into account what both society and the investors need, and thus participates in all phases of the process.