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The Journaling of Zhou 146

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The Smart City: Information On How Technology Is Updating Real Estate

'Smart' is now the brand new normal. The term itself is different slightly in meaning in the last Decade, as technology emerge boasting even more features which help us manage and look after our way of life on a regular basis. Now it's more established in order to meet someone which has a smartphone these days, while watches, TVs, automatic washers and lighting systems in our homes are all becoming increasingly connected and attuned to our needs. Now, these real estate property trends are taking over a bigger target, and we're needs to view a new modern phenomenon emerge: the smart city.

Exactly what is a smart city?
The United Nations has predicted that this global population will hit 9.7 billion in 2050, with 66% of individuals projected to live in cities. The smart city is part of this vision: our metropolises will become increasingly urbanised and much more tech-heavy, with drones, autonomous vehicles and robots already being introduced into today's service structures today.

These future cities will leverage data and technology to produce life more comfortable for residents. Frost & Sullivan define the phrase as “cities built on ‘Smart’ […] solutions and technology that will result in the adoption with a minimum of five with the eight […] smart parameters”.

These parameters include smart energy - which we’ve already seen beginning, with heating systems controlled out of your phone - in addition to smart buildings, transport, healthcare, infrastructure, technology, governance, education and lastly, the rather mysterious smart citizen. In terms of real estate trends, the ‘smart buildings’ parameter could have, and it is having, the maximum implications and opportunities for that industry.

What exactly is already happening?
Smart cities - in other words, the 1st incarnations of these - exist already. Barcelona and Singapore have basics amount of connectivity and integrated municipal services. Among other things, Barcelona has one of the cleanest surface trains and buses fleets in Europe, a bicycle sharing network and impressive green energy credentials. Its pneumatic waste management system automates rubbish collection in a few districts, while underground delivery chutes decrease truck and environmental noise.

In america, 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 like street lights mounted with video security cameras and sensors, in addition to smart bus stops and parking meters. Here, Road X, an ‘intelligent’ Interstate 70, is already underway.

What does this suggest legitimate estate trends?
Connected, smart buildings have the possibility to reduce energy use, trigger preventative maintenance, and decrease operating costs. Utilising sensor technologies to monitor information such as motion, light, temperature and water flow, then automatically analysing the data to detect 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% inside the 1st year. In-depth building and occupant data will mean greater transparency in solid 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 lots of opportunities here to embrace smart city solutions and shape the evolution of such areas. The obvious initial benefit to the property industry could be the enthusiasm and clamour of eco-conscious tenants, buyers and businesses to buy an element of these efficient structures with lower running costs. Equally,

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