PropTech: Easing the impact of COVID-19 on Real Estate
Over the last few years, Property and Technology have proven a winning combination. The creation of hundreds of new tech-based companies has brought efficiency and flexibility to the Real Estate sector via innovative solutions. Now, companies who have placed their trust in these solutions have the perfect opportunity to use them and take advantage of the competitive edge that they offer.
At CBRE PropTech, we have taken a closer look at which of these solutions are now starting to lead the way when it comes to tackling some of the challenges brought about by COVID-19. Out of the nearly 90 startups – from 22 different countries – that have taken part in our COVID-19 challenge we have analysed and selected a handful of the best candidates that are currently spearheading developments in the following areas: Monitoring space usage, User experience, Health and sustainability, End-to-end online transactions and Mobility of the future.
The return to physical spaces can be broken down into two different groups: users and landlords. A strong sense of responsibility is key among users who must not just look out for their own health, but also for the health of those around them. Landlords can really make a difference by providing tools that will help users make their way back to a sense of normality, while also boosting engagement and gaining a better understanding of the first. The latest trends show that spaces are increasingly becoming multi-experience locations, offering a growing number of events, workshops, shopping, and a variety of other activities.
Monitoring space usage
We are truly living unprecedented times. There has been a sea change in what occupiers require from properties, forcing owners to step up and gain an insight into and understand user trends and what they want. In order to mitigate the spread of COVID-19, the use of new digital solutions and tools based around the Internet of Things (IoT), Computer Vision and Location Analytics will be crucial to advancing this understanding, as well as ensuring social distancing in busy spaces such as offices, shopping centres and public places.
Health and sustainability
As business gradually returns to normal and spaces begin to reopen, concerns have been raised about how to implement certain safety protocols and the official measures for disinfection, cleaning and social distancing. This has resulted in greater demand for systems and devices that can eliminate the virus from the environment and guarantee air quality and purity, reducing the risk of infection and improving ventilation, to achieve a sustainable and healthy atmosphere.
End-to-end online transactions
From client acquisition and property marketing with virtual tools, to listing platforms and digital signatures or subscriptions, when these solutions are supported by an effective data room, they can be used to enable a fully digital transaction. Due to the COVID-19 crisis, many companies have been forced to apply these solutions in order to keep their business operational. Additionally, thanks to technology such as Blockchain, Artificial Intelligence and Big Data, companies are increasingly able to offer greater transparency, security and efficiency in their transactions.
Mobility of the future
Mobility has undoubtedly undergone a great deal of growth and disruption in recent years – particularly in the world of urban micro-mobility. Thanks to the use of multimodal models, mobility has been moving towards a more flexible, sustainable and shared future. However, shared options are likely to be impacted the most by the current pandemic. As social distancing measures seek to reduce the number of infections, we must now reconsider the use of private transport, rather than promoting shared and/or public transport.
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