In the commercial real estate world, location data is crucial, but it’s no longer just about broker instincts and physical attributes. Today, it’s all about tapping into data on foot traffic and consumer habits. This shift allows investors, brokers, and asset managers to make more informed decisions about property values, market trends, and investment strategies. Understanding where people go and their behaviors are key to pinpointing prime locations and driving maximum returns.
In our location exploration, Propmodo Technology focuses on the various alternative data sources utilized in property decision-making, along with the growing detail offered by location intelligence. We’re also delving into mobile location data, examining its complexities beyond mere map pings and highlighting the varying quality of this kind of data.
But first, here is what else is happening in real estate technology:
Old office parks transformed
Almost every office building is struggling right now with the drop in demand for space but large suburban office parks are really feeling the squeeze. Now, thanks to tech-savvy developers and a hefty federal tax credit program, some of these large corporate centers are getting makeovers allowing them to appeal to modern occupiers while preserving their historical elements.
Doubts on sustainable construction
In the world of construction, the adoption of wood and laminate support structures has been celebrated as a sustainable choice. However, a recent report highlighting the concealed adverse impacts of logging has cast doubt on the sustainability of this promising construction technique.
Mapping zoning for housing reform
With the increasing demand for housing nationwide, there’s a growing call for zoning reform. In response, researchers have embarked on a project to develop a national zoning atlas. This atlas will assess local regulations that limit the locations where larger multifamily buildings can be constructed.
AI revolutionizing construction
AI is rapidly reshaping many industries, and the construction sector is no exception. The emergence of Generative AI is aiding architects in creating innovative designs and facilitating better collaboration among contractors, engineers, and designers. The combination of computer vision, machine learning, and generative AI is poised to significantly transform the construction landscape.
Location Analytics Technology
Mapping has transitioned from charting the world’s exterior to focusing on indoor spaces, leveraging modern technologies for better navigation, safety, and management. Advances in digital mapping, indoor positioning systems, and machine learning aim to make indoor navigation as intuitive as outdoor, marking a significant shift in how we interact with and understand indoor environments.
Location data is vital in the real estate and retail sectors, though its quality differs across providers and there are significant privacy issues. Ensuring data cleanliness and compliance requires understanding the data’s source and how it has been processed.
Access to detailed neighborhood and street data is crucial for modern real estate decisions and provides a competitive edge, despite challenges such as skill shortages and funding. This data is expected to grow more detailed, enabling street-level analysis in the future.
PRESENTED BY UNACAST
Industry-Leading Location Intelligence from Unacast
Unacast is a global location data and analytics company that provides the most accurate understanding of human activity in the physical world. With its mission to make location-based insights accessible to every business, Unacast’s suite of solutions caters to companies of all sizes and technical proficiencies, enabling any organization to use location intelligence to inform critical business decisions. At the core of Unacast’s offerings are easy-to-use solutions, providing clients with reliable, high-quality, and privacy-friendly data and insights. With Unacast, clients get best-in-class location data, analytics, and insights to make better strategic decisions on a global or local scale.
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