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The 5 Trends Shaping the Real Estate Proptech Market in 2023
In the last three years, nearly 100% of commercial real estate stakeholders have adopted and integrated technology solutions to drive efficiency and streamline operations. Data and analytics have been at the center of the proptech conversation—and for good reason. Data insights are critical to successful investment performance. Last year, JLL said, “Technology and data will…
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How Real Estate Data and Analytics Support Office-to-Apartment Conversions
In recent years, the trend of converting office buildings into apartments has been growing due to changing work environments, increasing high demand for urban living space, and advancements in technology. Deliveries of residential buildings through adaptive reuse hit an all-time high in 2020-2021, outpacing the growth rate of new apartment completions by 10%.
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Why Proptech Software is Essential for Real Estate Developers in 2023
CBRE recently published a dismaying long-term outlook for the commercial real estate market. The organization’s researchers believe record inflation, interest rate hikes, and an impending recession will lower asset values and diminish investment and leasing activity this year. The firm expects all property types will see a 5 to 7% value drop while funding volume…
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Don’t Take Your Foot Off the Gas: Why CRE Developers Shouldn’t Slow Tech Adoption
The coronavirus pandemic was a turning point for technology adoption in commercial real estate. Most development companies (78%) reconsidered their technology strategies, embraced modern digital solutions, and invested in analytics programs, smart management tools, automation, and cloud-based software platforms. The last few years have seen historic progress in an industry with a reputation for being…
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How Historical Data Can Help Your Real Estate Firm Overcome an Economic Downturn
Traditionally, the real estate market has a four-phase cycle: recovery, expansion, hyper-supply, and recession. After enjoying a boom in 2021, the U.S. economy’s mounting uncertainty has recently pushed the sector into the low end of the cycle. Skyrocketing interest rates and declining lending activity have caused deals to fall apart and made launching new projects…
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How Real Estate Project Management Software Helps Decision-Making
Anyone involved with commercial real estate knows that projects require razor-sharp planning and flawless execution to be successful. So why are developers still clinging to a project management methodology that involves tools and practices that became outdated in the 2000s?
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How to Avoid a Bad Commercial Real Estate Software Implementation
The right software can have a transformative impact on a company’s project outcomes. By integrating a platform built to service your vertical’s specific needs into your workflows, your firm can reduce overhead expenses, cut costs, and reduce the amount of low-value tasks that your team spends too much time on. However, bad software implementations are…
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How Real Estate Project Managers Can Mitigate Cost Overruns in 2023
The commercial real estate sector looks to be on course for a challenging year in 2023.
