Technological developments are reshaping the world of real estate in many ways, from how buildings are occupied to how they are maintained. The integration of new technical solutions, right from the design stage, is opening up new prospects for optimising energy performance, occupant comfort and access to services. “In this area, the health crisis has been a major accelerator,” comments 
How, since then, have the real estate professions embraced technology? And to what end? A number of trends have emerged.
Operating remote monitoring
“One of the most remarkable developments is the increased ability to monitor equipment remotely. Thanks to connected objects, technicians or heating engineers are now able to identify problems without having to travel,” says the Luxreal chair. “While these practices were already well established in the United States or Asia, the home automation revolution is much more recent in Europe and Luxembourg.”
These connected or programmable devices also contribute to the comfort of users, who can adjust their blinds, heating or even turn lights off or on remotely.
Reducing costs, optimising consumption
“These aspects could be considered accessories or gadgets. But in certain contexts, they are a means of making real gains. In the property sector, for example, they contribute to a significant reduction in maintenance costs and in a building’s energy bills,” says Muller. In addition, the ability to precisely monitor consumption levels means that anomalies can be detected more quickly. “For example, by monitoring water consumption throughout a building, we can quickly identify the source of a leak and avoid infiltrations that could lead to major damage. Without this, a problem can go undetected for several days, or even weeks, and result in high costs.”
Towards improved management
Advanced digital solutions, supported by artificial intelligence, also contribute to better management of buildings and their equipment. They are invaluable allies for users, helping them to identify ways of improving their energy consumption and reducing their environmental impact. “Today, these issues are essential for a growing number of organisations, which are being asked to demonstrate their commitment to the environment and improve the working environment for their employees,” says Muller.
Advancing skills
The integration of the latest generation of technological tools nevertheless poses certain challenges. Jobs are changing, and the skills required to install and maintain this equipment need to adapt. “We are often faced with technicians who do not have the necessary knowledge to properly maintain the equipment installed, which can have harmful effects,” says Muller. “When faced with a technical problem, some deactivate a function that is supposed to regulate heating or air conditioning, which can lead to over-consumption. So it’s vital to step up training in the craft.”
Financing, always a challenge
Does technology support other property trades? Does it help to solve other problems? As far as financing is concerned, the promises associated with the use of blockchain to tokenise real estate assets are struggling to materialise. "These approaches are still at an early stage and raise many questions, if only from a legal point of view,” notes Muller. In his view, the main obstacle to financing remains the banking sector, because of the perception of risk, but also because of the increased requirements in terms of liquidity ratios. “For developers, the main alternative to credit institutions today is debt funds, which have much higher return requirements.”
Supporting marketing
In terms of marketing, proptech has made it possible to improve the presentation of properties. “The use of 3D modelling, which allows customers to imagine themselves in their future home, supports our marketing efforts,” says Muller. “We now have very high-quality solutions that give future users a better view of properties before they invest.” Artificial intelligence is also used in co-living models, to optimise energy consumption according to the occupants’ habits, or to trigger action more quickly in the event of a problem. “The next developments will focus on predictive maintenance.”
Providing new services
Finally, technology also promotes better use of space, particularly in car parks. “A better understanding of their occupancy over time means that unoccupied spaces can be made available,” concludes Muller. “Thanks to sharing solutions, private spaces could be rented out more easily, and therefore be profitable."
The possibilities offered by digital technology, via the development of proptech, are opening up new prospects for players in the property sector: improving performance and offering better services to users. And this is probably just the beginning.
This article was originally published in French.
