The innovation taking place around the development of smart cities is attracting many industries across the world, especially the real estate industry in America. The data that is provided through systems which manage smart cities show that there is a huge gap for productive improvement in public spaces across America – and now the real estate industry want a piece of the pie.
American cities are turning to smart technology, with the use of resilient and connected devices to improve the lives of the citizens. For example, Columbo, Ohio currently uses IDE (integrated data exchange) to gather information about sensors installed in traffic lights. The city then uses the data to predict which intersections are usually blocked off and which are more prone to accidents. This information is then served to the city’s drivers, allowing them to work around these potential obstacles.
Philadelphia’s biggest landlords, Brandywine Realty Trust, has partnered with a transportation technology company, TransItScreen, to implement screens across office building lobbies that give office workers and visitors instant updates on transit schedules. The screen can also show Uber updates, real time parking information etc.
Boston is another city which already implements smart technology for its sewage system. MIT-incubated startup Biobot uses robots to collect biological data from sewers. This information is then used to determine the lifestyle and wellbeing of the city, allowing the city to see what services the residents need. Boston streetlights are also smart, monitoring traffic, air quality and parking space. This information can become heavily valuable for the real estate industry, who can benefit how they market properties based around this data.
Smart technology is proven to add value to existing properties, which can then be handed over to real estate professionals to use in terms of informing consumers and marketing their properties. Smart cities are increasing and the communication between housing agencies and private entities are increasing.