1.  'Smart' has become the new normal. The phrase itself changed slightly in meaning in the last 10 years, as new technology emerge boasting much more features which help us manage and gaze after us every day. Now it's more common to satisfy someone which has a smartphone absolutely nothing, while watches, TVs, cleaners and lighting systems in our homes are becoming increasingly connected and attuned to your needs. Now, these real estate property trends are taking with a bigger target, and we're beginning to visit a new modern phenomenon emerge: the smart city.
2.  What is a smart city?
3.  The U . n . has predicted how the global population will hit 9.7 billion in 2050, with 66% of men and women projected to reside in cities. The smart city is part of 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.
4.  These future cities will leverage data and technology to produce life convenient for residents. Frost & Sullivan define the word as “cities built on ‘Smart’ […] solutions and technology that may resulted in the adoption that is at least five in the eight […] smart parameters”.
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7.  These parameters include smart energy - which we’ve already seen beginning, with heating systems controlled from the phone - and also smart buildings, transport, healthcare, infrastructure, technology, governance, education lastly, the rather mysterious smart citizen. In terms of real-estate trends, the ‘smart buildings’ parameter may have, and it is having, the highest implications and opportunities to the industry.
8.  Precisely what is already happening?
9.  Smart cities - or rather, the 1st incarnations ones - exist already. Barcelona and Singapore both have a base a higher level connectivity and integrated municipal services. Amongst other things, Barcelona has one of many cleanest surface trains and fleets in Europe, a bike 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.
10.  In america, Denver and Panasonic been employed 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 like street lights mounted with security camera systems and sensors, along with smart bus stops and parking meters. Here, Road X, an ‘intelligent’ Interstate 70, has already been underway.
11.  What does this imply for real estate trends?
12.  Connected, smart buildings have the prospect to lessen energy use, trigger preventative maintenance, and decrease operating costs. Utilising sensor technologies to monitor information such as motion, light, temperature and water flow, then automatically analysing the information to identify inefficiencies, and responding inside a non-intrusive manner could all become part of how buildings function around us. Based on JLL, smart buildings could improve general efficiency levels by 15-20% within the 1st year. In-depth building and occupant data will mean greater transparency in actual estate transactions, allowing potential renters and buyers to improve understand assets and commercial investors to better analyse the likely footfall.
13.  The property industry has plenty of opportunities here to embrace smart city solutions and shape the evolution of these areas. The obvious initial benefit for your property industry would be the enthusiasm and clamour of eco-conscious tenants, buyers and businesses to get an integral part of these efficient structures with lower running costs. Equally, however, the market will need to move with the times and up with these changes as they come, to be knowledgable and up-to-date with one of these increasingly common futuristic properties.
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