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IOT for Property Development

01/10/2020

Studio Victoria

3 minutes

In previous articles, we have already covered what Internet of Things is, what the ZigBee Alliance, and the Internet of Things for Construction. In this blog post we are going to be discussing Internet of Things for the Property Development Industry by answering the following questions: what are the advantages of the Internet of Things for the Property Development Industry? Keep reading to find out how Internet of Things for the Property Development Industry can help you to #ONEUPYOURBUSINESS!

WHAT ARE THE ADVANTAGES OF THE INTERNET OF THINGS FOR THE PROPERTY DEVELOPMENT INDUSTRY?

Internet of Things (IoT) applications can give Property Developers new insights to the performance of buildings, energy consumptions, and even the health of workers and residents. IoT makes it possible to create smarter, more energy efficient buildings and allow individuals to be in control of their spaces. Below we discuss the advantages the IoT can have on the Property Development Industry:

  • Supports employee and occupant health and productivity: wearable devices such as smart glasses that combine IoT technology and Augmented Reality (AR) can guide workers especially in the construction stage with information and instructions. IoT wearables can monitor and capture real-time data of the wellbeing, health and productivity of the workers preventing fatigue, accidents, and providing alerts to any dangers. IoT-enabled sensors can also support occupant health as the sensors can collect environmental data allowing you to understand the ventilation, air quality, and temperature levels and allowing you can make any necessary adjustments to provide a healthier environment
  • Provides predictive maintenance: IoT-enabled sensors can provide predictive analytics allowing you to see any issues and resolve them ahead of time. They can also monitor infrastructure where you will be alerted of any inconsistencies enabling you to resolve infrastructure flaws. The IoT-enabled sensors and real-time energy monitoring help to increase energy efficiency and identify any issues in the early stages with predictive maintenance which in turn can also be a selling advantage for property owners
  • Increases energy efficiency and value: smart devices in properties help reduce energy consumption such as water, electric, heating, air, and lighting. Implementing IoT-enabled sensors and monitoring helps to create smarter, more energy-efficient environments by enabling things such as lights automatically turning off or on when someone enters or leave a room, controlling thermostats and lighting when you are out and about, regulating how long the water heater runs, and much more. Therefore, using smart technology will attract people to use the building due to its effective building performance because it is convenient, time saving, energy saving
  • Improves house hunting: IoT applications can allow you to show properties without the need of an agent to be on site. It can also provide clients with a personalised buying experience as it will enable them to present information they only want to see. An example is Beacon technology, beacons are Bluetooth devices that can be positioned anywhere to transfer data through the Internet. BeaconSAGE allows potential buyers to view a property before the agent arrives due to phones being able to pick up a beacon’s signal and provide the prospective client with a link to begin viewing the property
  • Value through differentiation: IoT solutions in commercial properties offer innovation as it enables predictive maintenance, control over environments, and data insights to people’s movements inside the properties to help support more informed decisions in regards to collaboration and designing efficient workflows. Therefore, it allows you to provide more services, identify unmet consumer demands, and change tenant and user experience offering IoT buildings an opportunity to differentiate themselves from competition
  • Enhances security: IoT can enable owners of properties to be able to view captured security footage on multiple devices without having to be at the location and lock doors remotely. This enhances security and offers a more flexible, secure, and efficient way of operating
  • New revenue sources: the large amounts of data you collect means you can combine, analyse, and present insights for tenants or stakeholders to purchase. For example, data gathered from people moving within a building could be sold to urban planners or advertisers to assist them in decision making, making the data you collect providing you with new revenue opportunities

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