Now imagine there’s a sensor at the door so when the entire team and you are seated, the window blinds close automatically, the glass partition turns white and becomes a gigantic display screen, and hold my saucer, an AI program counts the number of heads and orders as many cups of tea.
While property technology relies on a sequence of minute events, for instance signals sent to devices to operate at specific times, the results are still mind blowing.
It’s one of those moments when, in the words of Arthur C. Clarke, technology becomes indistinguishable from magic. And, we're almost there already.
🏋️♀️🍌🍳
3 Pills To Sail Through An Unhealthy Real Estate Market
Investors love profits. That also translates into the fact that investors dread losses, so folks who park their money in property to watch it grow are also plagued by an ever-present, disturbing thought - what if the real estate market crashes?
A Crash Is Always A Possibility, FYI
Well, in the short term, real estate prices dropping is not new, but with high costs threatening project completions, and high demand asking for increased supply, the chance the market is volatile today may be greater than usual.
Add to that the Pandemic-Ukraine tag team onslaught and the possibility of a crash gets compounded. But, how many anti-depressant pills should you stack up on, in anticipation for that day?
Keep Calm And Read On...
While no investor would write a check for a property only to see its value fall rapidly, the reality is that if the investment is made with a few key factors in mind, there's no need for those pills.
Those stress relieving factors are:
💊 You're financially capable to bear the costs of ownership.
💊 Your plan is to own the property for a long time.
💊You qualify for a mortgage and won't drown in your loan EMIs.
These 3 factors matter more than any ingenious timing to enter the property market, simply because if you're financially sound and you intend to hold on to your property for a long time, you will eventually see property prices rebound (3 to 5 years max) and laugh to the bank.
Moral Of The Story: When it comes to real estate, as it is with most other investments, a focus on the long term reduces the risk of buying assets at an unfavourable time.
2022 Promises Big Things To Office Real Estate
2020 and 2021 took a rusty old sledgehammer to the dreams of office space developers and investors, as both occupancy and demand jumped the cone and went ‘splat’ on the floor.
But, But, But… come 2022 and gross absorption in office space is expected to touch 45-47 million sq. ft., translating into a growth of between 13-14% compared to 2021.
On the new-office front, a 4-5% increase is expected, with around 51-53 million sq. ft. set to be ready for fit-outs during the year.
Who's Occupying: Tech companies shall dominate leasing in 2022 again, while coworking operators, BFSI, engineering and manufacturing, and life sciences segments will be top contributors to the growth in office space consumption this year.
Mobility Data In Proptech - Elementary, Watson
A decade ago, most visiting cards only featured the office landline number on them and heck, folks would even call up on landlines. Today, no one even mentions the word 'cell' or 'mobile' before the word phone - a phone simply implies a mobile phone.
In a parallel, with the way proptech is taking over the real estate sector, all workflows (construction included) will soon become impossible to execute without the use of tech - meaning the word proptech, like the word mobile will go out of circulation.
Hang On, That's A Long Time Away
Oh yes, but cut to the present, mobility is the proptech word of this decade.
Why mobility: Per industry watchers, one of the most important types of data in real estate development today is mobility data.
Reimagining New Development
Increasingly nowadays, when real estate is designed or built, the promoters first try to understand how people may move around the building or area, which places are likely to get crowded and so on.
Real estate tech is now capable of making detailed projections regarding mobility and help design spaces on the basis of these projections.
Empowering Existing Buildings
In existing buildings equipped/retro fitted with building management systems (BMS) which manage their lighting, air conditioning and heating systems, mobility data can quickly teach usage patterns to the BMS - when to dim lights in specific areas, which areas to cool, and at what times.
In One Sip
Today, the real estate sector fully understands the challenges it faces on the path to sustainability and net zero, and stakeholders believe that this planet-saving transition can be made much more achievable with the use of mobility data to understand exactly how living spaces are used, and how our buildings operate.
Weekend Conversation Starter
GIFs can make even real estate newsletters come alive, so we make sure to insert one in every issue, but today's extra tiny movie is extra special.
The creator of the Graphics Interchangeable Format (GIF), Stephen Wilhite, has passed away at 74. The GIF dates back to the 1980s, when Wilhite was trying to digitally send across high-quality coloured graphics over the internet.
🛑 This Debate Is Over: If you’re wondering how to pronounce GIF, Wilhite settled the debate in a 2013 interview with the NYT. “The Oxford English Dictionary accepts both pronunciations. They are wrong. It is a soft ‘G,’ pronounced ‘jif.’ End of story.”
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We hope you have a great weekend ahead.
We will be back in a ‘jif’fy. 💚
☕ The Crew@Ginger Chai