How self-driving cars will profoundly change real estate

An employee operates a Tesla Motors Model S electric automobile, equipped with Autopilot hardware and software, hands-free on a highway in Amsterdam, Netherlands./Jasper Juinen | Bloomberg | Getty Images

By Deborah Findling | CNBC

Menlo Ventures managing director Venky Ganesan says that urban spaces will change dramatically once self-driving cars become widespread.

“The average house is roughly 3,000 sq ft and it’s been going up. The size of your garage is roughly 500 sq ft. That means roughly 15 to 20% of your living space constructed in the average home is devoted to the garage,” said Ganesan.

His prediction is that driverless cars could become a reality in five years, and will profoundly affect real estate within eight or nine years. “When the first driverless car is on the road, I think people will start thinking about zoning changes,” said Ganesan.

Here are some of the changes he and other experts in the field predict:

Continued:

Share this!

Additional Articles

Top master-planned communities for 2024

By AZ Big Media Here are the Top 10 master-planned communities in Arizona, based on public voting for the 2024 edition of Ranking Arizona, the state’s biggest and most comprehensive business opinion poll. Ranking Arizona

Read More »
News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.