The Smart City: Information On How Modern Technology Is Modifying Real Estate

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'Smart' is now the newest normal. The saying itself has changed slightly in meaning during the last Ten years, as technology emerge boasting even more features that help us manage and gaze after our everyday life on a daily basis. Now it's more prevalent to fulfill someone which has a smart phone than not, while watches, TVs, washing machines and lighting systems within our homes are common becoming more and more connected and attuned to needs. Now, these real estate trends consider with a bigger target, and we're starting to go to a new modern phenomenon emerge: the smart city.

Just what smart city?
The Us has predicted that the global population will hit 9.7 billion in 2050, with 66% of individuals projected to live in cities. The smart city belongs to this vision: our metropolises can become increasingly urbanised plus much more tech-heavy, with drones, autonomous vehicles and robots already being introduced into today's service structures today.

These future cities will leverage data and technology to create life much more comfortable for residents. Frost & Sullivan define the definition of as “cities built on ‘Smart’ […] solutions and technology that will lead to the adoption that is at least five of the eight […] smart parameters”.


These parameters include smart energy - which we’ve already seen beginning, with heating systems controlled from the phone - along with smart buildings, transport, healthcare, infrastructure, technology, governance, education lastly, the rather mysterious smart citizen. With regards to real estate trends, the ‘smart buildings’ parameter will have, which is having, the maximum implications and opportunities for your industry.

What is already happening?
Smart cities - or in other words, the initial incarnations of them - exist already. Barcelona and Singapore both have basics a higher level connectivity and integrated municipal services. Amongst other things, Barcelona has one of the cleanest surface trains and fleets in Europe, a motorcycle sharing network and impressive green energy credentials. Its pneumatic waste management system automates rubbish collection in some districts, while underground delivery chutes decrease truck and environmental noise.

In america, Denver and Panasonic been employed together to designate a mixed-use development centre, Pena Station Next, being a hyper-connected community: a ‘smart city’ of sorts. Pena Station Next already has smart city solutions such as street lights mounted with security camera systems and sensors, along with smart bus stops and parking meters. Here, Road X, an ‘intelligent’ Interstate 70, is definitely underway.

What does this implies are the real deal estate trends?
Connected, smart buildings have the prospect to lessen energy use, trigger preventative maintenance, and decrease operating costs. Utilising sensor technologies to trace information including motion, light, temperature and water flow, then automatically analysing the info to detect inefficiencies, and responding in the non-intrusive manner could all become part of how buildings function around us. According to JLL, smart buildings could improve general efficiency levels by 15-20% inside the 1st year. In-depth building and occupant data means that greater transparency in real estate transactions, allowing potential renters and buyers to higher understand assets and commercial investors to better analyse the likely footfall.

The property industry has a lot of opportunities here to embrace smart city solutions and shape the evolution of such areas. Decreasing initial benefit for your property industry may be the enthusiasm and clamour of eco-conscious tenants, buyers and businesses to purchase part of these efficient structures with lower running costs. Equally, however, a will need to move with all the times and keep track of these changes as they come, to stay knowledgable and up-to-date with your increasingly common futuristic properties.

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Created2 Jul 2020
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