'Smart' is becoming the newest normal. The saying itself has changed slightly in meaning within the last Ten years, as technology emerge boasting more features that really help us manage and keep us on a regular basis. Now it's more established in order to meet someone using a cell phone absolutely nothing, while watches, TVs, cleaners and lighting systems inside our homes are becoming increasingly connected and attuned to our needs. Now, these real-estate trends take on a bigger target, and we're needs to visit a new modern phenomenon emerge: the smart city.

Exactly what is a smart city?
The Un has predicted the global population will hit 9.7 billion in 2050, with 66% of people projected to exist in cities. The smart city is part of this vision: our metropolises will become increasingly urbanised plus more tech-heavy, with drones, autonomous vehicles and robots already being introduced into our modern service structures today.

These future cities will leverage data and technology to make life much more comfortable for residents. Frost & Sullivan define the word as “cities built on ‘Smart’ […] solutions and technology that will lead to the adoption for at least five from the eight […] smart parameters”.



These parameters include smart energy - which we’ve already seen beginning, with heating systems controlled out of your phone - as well as smart buildings, transport, healthcare, infrastructure, technology, governance, education last but not least, the rather mysterious smart citizen. When it comes to property trends, the ‘smart buildings’ parameter can have, and is having, the best implications and opportunities for that industry.

What exactly is already happening?
Smart cities - or in other words, the very first incarnations ones - exist already. Barcelona and Singapore have basics level of connectivity and integrated municipal services. Amongst other things, Barcelona has one of many cleanest surface trains and buses fleets in Europe, a motorcycle 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.

In the USA, Denver and Panasonic have been working 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 such as street lights mounted with security camera systems and sensors, together with smart bus stops and parking meters. Here, Road X, an ‘intelligent’ Interstate 70, is definitely underway.

Precisely what does this imply are the real deal estate trends?
Connected, smart buildings have the potential to cut back energy use, trigger preventative maintenance, and reduce operating costs. Utilising sensor technologies to follow information like motion, light, temperature and water flow, then automatically analysing the info to identify inefficiencies, and responding within a non-intrusive manner could all become part of how buildings function around us. In accordance with JLL, smart buildings could improve general efficiency levels by 15-20% within the fresh. In-depth building and occupant data would mean greater transparency in tangible estate transactions, allowing potential renters and buyers to raised understand assets and commercial investors to improve analyse the likely footfall.

The real estate industry has a lot of opportunities here to embrace smart city solutions and shape the evolution of those areas. Decreasing initial benefit to the 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, a will likely need to move with all the times and make up with these changes as they come, to stay knowledgable and up-to-date with your increasingly common futuristic properties.

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