The technological transformation
Digitalisation has gained a considerable role in most industries in the last decade and this has resulted in many important changes. All industries are digitizing – businesses need to find innovative ways of thinking to increase efficiency whilst also being part of consumers' increasing demands for modernization. We are in the midst of the fourth industrial revolution. In the midst of a technological transformation which opens up for concepts like smart traffic and smart cities – driven by modern technologies like Internet of Things, Artificial Intelligence and Blockchain. This is changing how we rent, buy and use real estate.
The real estate industry has been slower than others to join the digital wave. The Covid-19 pandemic has strongly affected the digitalization of the real estate industry. Actors are being forced to implement new technology at high speed to adjust for all things digital from virtual viewings and contactless home delivery to external property management. The massive digital transformation changes traditional courses of action for managing, buying, owning and renting real estate – at the same time as it paves the way for smart properties and more efficient operations.
What exactly is “proptech”?
Proptech is short for property technology, and encapsulates the technology which is part of the digital transformation the real estate business is facing. The goal of proptech is to improve and streamline the real estate business. The keyword proptech had an increase of 1380% the last five years, and the interest has significantly increased as the technologies become more accessible.
The growing trend has accelerated a range of proptech-companies all over the world. Nordic real estate companies are at the front of this wave of innovation, with many leading actors across over 500 proptech-companies. As the global interest in proptech solutions continues to grow, so do demands and wishes from end users. Let us take a look at some of the most popular proptech-solutions apartment owners are requesting.
These are four proptech solutions requested by apartment owners in 2021:
1. Smart locks
An increasingly growing and popular trend within the real estate business is the tenants' wish for electronic door locks, or smart locks, in their housing association. Many want to make it easier to share accesses with others whilst also no longer having a need for the physical keychain. The swedish Bostadsrättsrapport from 2020 shows that smart locks are the #1 most requested digital investment tenants in Sweden want in their housing association. Smart locks are likely the easiest way for housing associations to offer their end users innovation and digitalisation. When you have decided to get started with smartlocks and digital access management Unloc makes it possible to have flexible, quick and clear handling of keys through it’s app. What is so unique about Unloc is that it is an open platform which means you can offer key-free access to tenants regardless of what kind of lock is on the doors.
2. Smart Lighting
Smart lighting is often the first investment made into upgrading to a smarter home. Lightbulbs, lamps, switches and sensors are connected in one smart-system which makes it possible for you to control your own lighting without having to get a single switch. Everything is controlled from an app in your phone, or through a voice-controlled smarthub. The leading provider of smart lighting on the market is Philips Hue, however IKEA Smart Lighting is growing into a promising, more affordable option.
3. Automatic energy switching
With the digital wave new actors with new flexible ways for companies to save money emerge in the market. Automatic energy switching has been populare the last year, with Tibber being the clear Norwegian market leader. Tibber is a fully digital energy company which uses smart software to buy electricity from wherever is cheapest, so the customer gets the ideal price at all times. The flexibility of the energy system allows consumers to save large sums of money. Tibber also offers smart heath switching using the same process, so a property is heated when the price is at its lowest.
4. IoT sensors
IoT sensors are small technological sensors which are used to keep track of the condition of a property, most often by measuring values such as temperature and moisture in the air. The sensors are small and wireless, therefore they are easily moved around the property. The values are gathered in a digital data network connected to WiFi which keeps track of and analyzes the conditions in and around the property. Companies like Disruptive Technologies and Airthings are at the front of this solution. The former delivers a range of different sensors such as temperature sensors and air moisture sensors. The latter use IoT sensors to improve air quality by measuring CO2, air pressure and temperature.
Do you want to know more about how Unloc and smart locks can effectivise boardwork, cut costs and help increase security?