Property and Real Estate as an industry is notorious for lagging behind in the space of digitisation and technology adoption. COVID-19 has had a huge impact on expediting this digital disruption due to the challenges of operating remotely, and in the last few years the industry is seeing significant investment in companies looking transform the industry, collectively these companies are known as PropTech.
The many ways PropTech are likely to transform the industry are: · Utilisation of market data for development, investment, leasing and home purchasing purposes · Managing and evaluating investment performance · Facilitation of remote real estate transactions · Streamlining leases and lease administration · Tennant resources around effective workspaces and landlord relationships · Technology enabling advanced building and home management systems · Utilising new tech like virtual augmented reality and drones to inform planning, design and construction of developments · Eliminate the need for intermediaries for financing purposes
In the Asset Management space we are seeing our clients harness big data and using this data to inform building systems. HVAC, Electrical, Fire and Telecommunications data can all be harnessed, changing the Asset Manager role from being reactive and problem solving to proactive, even altering asset managers to failures and issues before it occurs.
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