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Driverless cars: Impact on Real Estate

Day will arrive sooner than you think

Google’s Driverless Car Project (Credit: Google)

As driverless cars get closer to becoming a reality, it’s worthwhile to consider the potential impact on real estate.

Worth Considering: Assuming autonomous vehicles disrupt the auto industry, it could mean that the public will be less reliant on public transportation, according to an interesting article in Forbes. This means that close proximity to transit hubs may not be as important to commuters.

Not buying it: Although Uber has been a major disruptor, it has become one more reason for people to avoid buying a car. Therefore, even if driverless cars are transformative, it will not automatically change urban travel.

The real loser: Parking garages. Driverless cars could potentially pick people up from their homes, drop them off at the office, and then leave to park in a less prime area.

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