The real estate market is being re-shaped by changing demographics. The number of non-family households has increased, and married couples now comprise less than half of all US households [2]. Aging baby boomers and growing millennials, two demographic trends, are changing commercial real estate development [5]. Urbanisation and population ageing are shaping the real estate investment industry [3]. Demographic changes can largely account for house price growth from 1970 to 2010 [4]. The real estate industry must adapt to these changes to meet the demand for new housing [1].