Residential sector is larger in terms of overall area and value, more diverse and more fragmented in its ownership than any other real estate category. The volume and end user makes this segment different from office, industrial and retail. Whereas, it has some similarity with hospitality sector and therefore many trends of hospitality are impacting the residential segment as well.
This article covers 9 different smart features impacting design, construction, marketing and operation of residential developments namely Building Information Modelling, IoT or Internet of Things, Virtual Tours with Drones and Satellite Imaging, AVMs (Automated Valuation Models) / buying platforms (trading) through automating real estate acquisitions and others.
In this article we tried to understand how business structure is changing of residential developments on account of technology - usage of space as a service, aggregation of supporting space and services to develop more sustainable neighborhood. This article also summarizes different types of funds required to serve needs of these changes.