5 Ways In Which Technology Is Influencing Global Real Estate
Hyperconnectivity or rapid globalisation has led to a boom of information, services, and knowledge. With the technology affecting every sphere of our lives, information available to real estate investors too is more precise than ever before. As a result of this, global real estate investment is notably high level and is expected to touch giddy heights in the years to come.
Apart from creating an extensive portfolio for investors varying across geographies, investors are using this glut of information to take a well-informed investment decision.
Following are the five technologies that are changing the face of the global real estate.
Technology has changed the way we used gather, store and evaluate information. Whatever data was untrackable before, can be tracked at the click of a mouse. Thanks to the latest technology boom – 'big data' invention. The big-data revolution has transformed our evaluation of urbanisation.
E-commerce has global acceptance as virtual sellers dominate businesses. For e-commerce, real estate is the key. E-retailers want to be closer to the city, town or suburb so that their products get actively distributed to ensure cost-effective delivery of goods. Small industrial facilities located near urban areas are extremely sought-after due to their location. This will support the supply-chain for e-commerce retailers.
Self-driving cars or automated vehicles are dynamically overshadowing the traditional automobile operation. The advent of automated vehicles will further influence the location of distribution centres near urban areas or city centres.
The upcoming real estate will need fewer dedicated parking slots as self-driven cars or autonomous vehicles will tackle parking issues. Although this technology is understated and subtle, it has the potential to change the dynamics of commercial and industrial real estate. It will also affect the distribution, supply lines and vehicle accessibility across several industries.
3D technology has taken the real estate industry by storm. The digital mechanism allows home buyers to not only see the real estate, but also feel the space. From any site or place, people can have a walkthroughs of the property on online portals. Real estate developers are thoroughly using 3D technology to design high quality walkthroughs for the potential homebuyers. Certainly, the 3D technology will move real estate listings much faster.
Home automation is an integral part of the smart home concept. It is the latest technology which will change the way how commercial and residential properties will be used. Through this technology, people can regulate their electricals, appliances and security system at the click of a button. The real estate developers are adapting this kind of technology to offer a contemporary lifestyle to their customers.