That’s how proptech is changing Real Estate
For a long time the real estate sector was considered a sleeping giant when it came to digital transformation. But digitalization has been part of the real estate sector for several years now.
Property technology ("proptech" for short) is emblematic of modern technological developments in the real estate sector. Proptech rethinks existing products and uses software and/or hardware, for example, to create new solutions. This includes introducing or optimizing products, processes, or entire business ideas by using the latest information and communication technologies. Most solutions developed by start-ups are designed for the needs of other businesses or end-users.
Nearly all companies from the real estate sector are affected by these disruptive approaches. Specifically, for example, they deal with electronic locking systems, smart home solutions, or marketing real estate with virtual reality applications.
When it comes to real estate management, proptech solutions provide increased efficiency, cost savings, and an opportunity to establish new business models. Thanks to proptech, building occupants benefit from higher service quality and additional services; and if they are satisfied, they will stay at a property for a longer time.
Digitalization has also brought about new concepts for leasing office spaces, because it has affected working hours and workspaces are no longer as fixed as they previously were. This, along with economic considerations, has businesses looking for variable rental conditions that are easily adjusted to their needs. In addition to workspaces that can be used immediately ("plug & work") and simply expanded, coworking options are also in demand.
An all-around smart house
Despite its appearance, this is not science fiction. The real estate property “Flow,” located on the left bank of Lake Zurich, is not entered using a traditional apartment key. Instead, you use your smartphone to open the house door, garage, or business area. The same goes for visitors, who can receive temporary access rights with just one click.
In Flow, the replacement construction completed in 2017 in Wädenswil, what seems fiction is reality. Here, Credit Suisse Asset Management's Global Real Estate team has integrated an electronic locking system into residential real estate for the first time. Though residents can open and close the doors not only with their smartphone; alternatively they can use key rings, combo keys, or key cards to access the building.
New locking systems in practice
These electronic locking systems offer flexibility even when it comes to granting access rights. With just a few clicks, rights are assigned for a desired period of time, eliminating the inconvenience of managing physical keys. Online management ensures added efficiency.
This allows fully or half-automatic opening hours to be defined for certain doors, authorizes self-management by tenants, and the management of various locations by multiple administrators. Encrypted data transmission in line with online banking standards guarantees a high level of security.
Convenience for tenants
The Flow housing complex offers tenants benefits like never before. It is equipped with intelligent building systems and tenants can use their smartphones to control functions such as lighting, shutters, heating, ventilation, or the intercom system. Management can use an online platform to communicate with tenants in a timely manner. Tenants can also book washing and cleaning services online, as well as watering the flowers or collecting mail. And instead of taking the pick-up slip to the post office, a package can be retrieved from a package box at the housing complex.
Office spaces more flexible than ever
Digitalization is the starting point for innovation in all areas of life and is a key driver for disruptive change. New and growing demand for premises that can be rented and canceled flexibly is part of this disruptive change. Demand opens a new sales channel in addition to the classic market with tenants looking for rental agreements with fixed areas and terms. The customized rental of flexible office spaces makes room for flexible growth for SMEs, major corporations, private individuals, and start-ups.
Lindbergh business premises in Zurich will enable Credit Suisse Asset Management's Global Real Estate unit to respond to new tenant needs with a flexible office that is right for them. In the future, its innovative office spaces will be able to be rented for as little as one month. The contractual conditions allow for flexible adjustment with regard to the rented area and term.
Representative offices for one to eight people, fully-equipped project rooms, and fully-furnished offices can be rented. The offer also includes state-of-the-art conference rooms and beautiful communal areas.
Coworking and cocooning in one
Import and export of food products, a fintech app, art therapy, a new concept for childcare. On their own, these business ideas have nothing in common. Nevertheless, completely different business areas are working together under one roof in coworking spaces more and more often. It's not just the self-employed who like the creative atmosphere. An increasing number of companies and mobile employees are using the workspaces with flexible leases, situated in a fully-equipped infrastructure.
At the Geneva Business Center in Geneva/Petit-Lancy, Credit Suisse Asset Management's Global Real Estate and Bouygues Energies & Services have established a new, state-of-the-art coworking space. The innovative offering appeals to new target groups. In addition to dedicated office spaces for companies, the urban Geneva Business Center also provides three large common areas, meeting rooms, and smaller customized office spaces. Besides the high-quality modern workspaces, the integrated cafeteria restaurant, which is currently being modernized, also caters to culinary well-being. In the future, the new reception area and furnishings will offer tenants a streamlined link between coworking, the restaurant, and a redesigned outdoor area with a quiet zone. And just in front of the coworking rooms, there is a cozy lounge area to take a break and relax a bit.