The Emergence of PropTech
Technology and AI in property sales, management, and investment has a fancy buzz word
called PropTech. A report from the Altus group in January of this year noted that growing numbers of commercial real estate firms are investing in PropTech companies and startups, as well as automating their processes and/or applying AI and machine learning in their businesses.
A survey by the same company showed that 80 percent of CRE firms asked believe smart building technology will result in significant cost savings and/or be a game changer. What does this mean for affordable housing though? Much of the work being put into PropTech aims to more accurately describe available housing and provide the correct valuation based on area, amenities, and many other aspects that rental companies and landlords leave out. Giving computers the same sensibility that a person has can help home searchers find the best value apartment and prevent price gouging.
Power to the People
Companies are investing in PropTech because consumers are actively seeking out this technology to make better informed decisions about housing, discover the real value of a dwelling, and spend less time and money searching for places to live. With this sort of research and buying power, housing developments will begin to cater more to quality, human-serving design, and affordability. With the tools to be able to compare dozens of details and costs, competition to provide affordable and desirable homes will increase. From its inception, Adaptive Shelters has strived to provide that focal point of affordability and good quality permanent modular homes and buildings. Permanent modular buildings provide major fiscal benefits not only to residents, but also to commercial real estate firms and developers.
Proof is in the Property
With Adaptive Shelters’ proven savings of up to 30% on cost and up to 40% on time, it’s no wonder that modular housing is as much of a buzz as PropTech. Permanent modular housing communities provide the flexibility, reliability, modernity, and space for creativity that both developers and renters crave. Using a set of prefabricated permanent modular buildings, a developer can stack units in any number of ways, combine units to make meeting rooms or ground level shopping areas, and even create beautiful rooftop gardens and gathering areas. There is so much imagination that can go into these building blocks and all the while save on overall costs and project time. The emergence of AI in real estate is truly leading the way to a future that mutually benefits all involved, and the use of permanent modular buildings will help make that future real.