the world population now connected to the Internet through some form of smart device . What this means for billions of people across the globe is that instant connectivity and ease of use now form an integral part of their lives .
The contemporary consumer feels quite comfortable with using devices and apps to simplify and streamline their work and personal activities . This has led to , among other things , the rise of the gig economy , where temporary work positions allow freelancers to earn money through online work platforms such as Uber or Airbnb . The appeal here is increased flexibility and more control over work hours and income . Consumers use technology to find information , relax , shop , transact , get around and keep abreast of local and world affairs . In short , digital innovation has transformed the way the average consumer now expects to interact with the world ; it has served to place the power of choice , autonomy and independence firmly in their hands – something to which they are now very accustomed .
The top disruptive trends in real estate The rumbles of digital disruption have been felt in the property investment industry for some time now . In response , most real estate businesses have moved their services online to cater to a digital market . Online portals with search engine capabilities allow prospective buyers to browse through the agent ’ s current listings , based on a selection of specific criteria .
But digital disruption in real estate goes a lot deeper than that . According to the Silicon Valley Innovation Centre and the MIT Centre For Real Estate , the top disruptive trends in property investment include smart buildings , shared space , crowdfunding , big data , fibre optics , the Internet of Things ( IoT ) and virtual reality ( VR ).
Smart Buildings Smart , or ‘ intelligent ’, buildings make use of technology to reduce operational costs , streamline building management , save energy , improve IT infrastructure and increase productivity and security .
Like the Green Building movement , a top priority for the smart building sector is the effective use of key resources , such as water and electricity . Smart LED lighting systems already exist that can measure motion , light levels and temperature and then automatically adjust a building ’ s energy use . Lights can be auto switched on or off depending on the time of day and whether a room is occupied .
Further improvements in artificial intelligence ( AI ) capabilities could very possibly lead to a complete transformation of the built environment , resulting in the development of what some are calling ‘ cognitive buildings ’. In fact , app-based technology is already being used in Amsterdam in ingenious ways . The Edge is a smart office space that ‘ learns ’ employees ’ schedules , the cars they drive , where they should park and which desks they can use for the day ‒ all through their use of a dedicated app . It can apparently even adjust the temperature and light in an environment based on an employee ’ s preference .
Smart Homes One of the biggest draw cards for automation in the residential arena is convenience . Home automation systems ( such as those offered by Nuru Intelligent Buildings in South Africa ) converge home technology ‒ i . e . media centres , intelligent lighting , geysers , garage doors , surveillance systems and smart irrigation ‒ to work together from one interface , such as a smartphone , tablet or PC . Managing a property is now as simple as the swipe of a tablet screen , all thanks to ongoing developments in property technology .
Shared Space Commercial real estate is being revolutionised by the latest trend of co-working , or shared office space . As the name would suggest , co-sharing environments allow individual professionals and / or businesses to work from one shared office environment . These spaces generally boast all the amenities , including high-speed Internet , conference rooms for meetings or hosting events , kitchen facilities and the like .
This flexible setup appeals to entrepreneurs and small business owners , who do not then have to worry about long term rental commitments , accommodating growing or shrinking staff numbers , or kitting out or maintaining a full office space of their own . A further appeal is that it enables collaboration between professionals across or within industries , as physical boundaries like walls and doors now become obsolete .
A recent BiZCommunity article on developing Africa ’ s future cities forecast a “ greater demand [ in South Africa ] for shared space , flexible office work spaces and a mix of fixed and variable spaces from tenants .” It added that lease agreements will “ become more layered , with arrangements for flexible space to meet either peak demands or for meeting the needs of short-term special projects ”.
At the Edge in Amsterdam , for example , employees don ’ t have designated desks . Workspaces are assigned to employees daily via the app , according to their schedules , which means they could find themselves sitting or standing , in a booth or meeting room , or on the balcony even , depending on the information they have captured in their diaries .
www . reimag . co . za MARCH 2017 SA Real Estate Investor 11