Technology is changing and evolving more quickly than ever before. The improvement of current technology in recent years and the development of new technology have improved many lives. But it has also turned industries upside down. For example, Airbnb is taking part in hotel and holiday home rentals. Or Uber disrupting the ride-sharing industry. Such companies made use of different types of technology, to help consumers purchase services with more ease and for a better price. In the case of real estate, smart buildings are the next step of the real estate industry technology adoption.

The real estate industry has experienced several changes due to developments in new technology. Through this and in response to various years of inefficiency within buildings, the “PropTech” sector has emerged. Short for Property Technology, this sector is changing the real estate industry with new technology to bring increased efficiency and utilisation to offices. With this change, smart buildings are a wave of technology revolutionising the real state industry.

What are smart buildings?

PropTech consists of three elements: sensors, connections and actionable insights. Smart buildings are properties that use such elements to continuously adapt to improve the use of resources. By doing so, it saves costs and energy; therefore creating a more agile and connected workplace.