Ruiz MacKenzie posted an update 1 month, 1 week ago
‘Smart’ is now the modern normal. The saying itself is different slightly in meaning over the past Ten years, as technology emerge boasting much more features which help us manage and maintain our lives on a daily basis. Now it’s more established to meet someone which has a smart phone these days, while watches, TVs, washing machines and lighting systems within our homes are getting increasingly connected and attuned to our needs. Now, these real estate trends think about on the bigger target, and we’re starting to view a new modern phenomenon emerge: the smart city.
Just what is a smart city?
The United Nations has predicted how the global population will hit 9.7 billion in 2050, with 66% of individuals projected to exist in cities. The smart city is part of this vision: our metropolises can be increasingly urbanised and much more tech-heavy, with drones, autonomous vehicles and robots already being introduced into our modern service structures today.
These future cities will leverage data and technology to create life much more comfortable for residents. Frost & Sullivan define the word as “cities built on ‘Smart’ […] solutions and technology which will lead to the adoption that is at least five in the eight […] smart parameters”.
These parameters include smart energy – which we’ve already seen beginning, with heating systems controlled from a phone – as well as smart buildings, transport, healthcare, infrastructure, technology, governance, education and finally, the rather mysterious smart citizen. In terms of real estate property trends, the ‘smart buildings’ parameter could have, and is having, the greatest implications and opportunities for that industry.
What is already happening?
Smart cities – or in other words, the 1st incarnations of them – exist already. Barcelona and Singapore have basics degree of connectivity and integrated municipal services. Amongst other things, Barcelona has among the cleanest surface public transport fleets in Europe, a bike sharing network and impressive green energy credentials. Its pneumatic waste management system automates rubbish collection in a few districts, while underground delivery chutes decrease truck and environmental noise.
In america, Denver and Panasonic have worked together to designate a mixed-use development centre, Pena Station Next, like a hyper-connected community: a ‘smart city’ of sorts. Pena Station Next already has smart city solutions including street lights mounted with security camera systems and sensors, in addition to smart bus stops and parking meters. Here, Road X, an ‘intelligent’ Interstate 70, has already been underway.
Exactly what does this implies for real estate trends?
Connected, smart buildings have the possibility to lessen energy use, trigger preventative maintenance, and reduce operating costs. Utilising sensor technologies to track information including motion, light, temperature and waterflow and drainage, then automatically analysing the information to identify inefficiencies, and responding in the non-intrusive manner could all join how buildings function around us. Based on JLL, smart buildings could improve general efficiency levels by 15-20% from the newbie. In-depth building and occupant data means that greater transparency in tangible estate transactions, allowing potential renters and buyers to better understand assets and commercial investors to raised analyse the likely footfall.
The real estate industry has a lot of opportunities here to embrace smart city solutions and shape the evolution of these areas. The obvious initial benefit for that property industry may be the enthusiasm and clamour of eco-conscious tenants, buyers and businesses to buy an integral part of these efficient structures with lower running costs. Equally, however, the market will need to move with all the times whilst with these changes as they come, to stay knowledgable and up-to-date with these increasingly common futuristic properties.
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