UK property industry faces revolution in terms of Twitter and greater regulation | Europe | News

UK property industry faces revolution in terms of Twitter and greater regulation | Europe | News

The UK Property industry faces greater regulation and a twitter revolution among occupiers, according to industry experts.

Greater regulation from Europe and increasingly empowered and well informed occupiers as a result of social media are just two of the issues facing the UK property industry, the MIPIM property convention in Cannes, France, will be told.

The event run by the British Property Federation (BPF) and London consultancy RealService, will hear some of the property industry's leading figures spell out their vision for what the property industry will look like in the year 2020.

With the property industry finally picking up post recession, albeit slowly, new ways of doing business are emerging and inevitably the internet and social media will take centre stage over the coming decade.

Neil Young, chief executive officer of the Young Group, believes that occupiers will continue to become more knowledgeable and empowered as information becomes increasingly accessible and more easily shared through social media, something that the sector as a whole has been slow to adopt.

‘I'd like to think that over the next decade property professionals can not only catch up, but also lead the way with innovative use of technology to drive a better more transparent experience for customers and closer, flexible relationships with landlords and occupiers,’ he said.