30 Mar 2017
Property is finally catching up with its peers and embracing technology for business success — this is the view of Founder and CEO of REalyse Gavriel Merkado. Below he explains how and why this market is ripe for new opportunities.
For too long, real estate has lagged behind in terms of implementing business technology. As one of the world’s oldest and most deeply rooted industries, it is easy to see why sticking with tradition has remained such a temptation.
However, recent national and global milestones are forcing a shift in the usual modus operandi. First-movers and those quick to catch up are increasingly able to use technology to cut costs, reduce project time and increase their profitability. The property technology sector is finally bridging a decades-long gap in the use of big-data analytics, new materials and digital-first business models.
With challenges come great prospects
The unique characteristics of the property market see developers and investors enjoy exciting opportunities that cannot be found elsewhere. The application of connected devices, smart-monitoring systems and data analysis is set to have a huge impact. In real estate, evolution on any scale can have a marked impact on quality of life, resource, time and cost savings, unlike anywhere else.
Smart property professionals are waking up to the fact that in such an uncertain economic environment, high-quality, high-volume data insights are a must to inform business decisions at all levels. A data "roadmap" is essential in enabling today’s businesses to successfully navigate times ahead.
What is a data roadmap?
Data around house prices, rental markets, demographics and more can be brought together into one single data analysis system like that of the REalyse platform. This type of data insight not only cuts property market analysis time to a fraction of what it once was, but also allows investors and developers to better understand where, when and how to invest, from determining the best value-add features, to tips for portfolio diversification and exploiting emerging market segments.
This is just one way that data and technology is helping to reshape the market, making it more transparent and efficient. After all, reliable data insight makes progress in property possible.
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