Prop Tech

Why 2017 is considered the ‘Year of PropTech’

Gabrielle Pickard
Written by Gabrielle Pickard

Virtually all other industries have benefited from smart use of technology, so why should the property market be any different? Smart home technology or ‘PropTech’ is fast becoming the new norm. For property owners, getting on board with the trend now could help to attract more buyers, secure a sale more quickly and perhaps even boost the value of a property.

According to research from U.S real estate agent Coldwell Banker, a huge 81% of house hunters would be more likely to buy a property if it had smart home tech installed. This is big news for property owners and landlords hoping to attract buyers and tenants in a competitive marketplace, but what kind of technology are we talking about?

Another Coldwell Banker study found that there are certain ‘PropTech’ features that attract buyers more than others. It used survey results to compile a list of the top 25 technologies that matter to home buyers most, including:

  • Smart security systems – encompassing keyless entry, motion sensors on windows and doors, streaming security camera footage and access control
  • Remote control of thermostats and home temperature – the most popular systems offer the ability to adjust home temperatures remotely or use in-built sensors to lower temperatures and save energy
  • Smoke detectors and CO2 alerts – the high-tech versions of traditional smoke alarms and detectors offer features such as sending phone notifications, tracking CO2 and other climate-related figures and even offering alerts of danger to the whole household in a human voice.
  • Smart lighting – today’s buyers want to adjust the mood in their homes and in different rooms from the comfort of their sofas, and the latest systems let you do this with just a tap of your smartphone

Also worthy of mention are smart TVs and entertainment systems, as well as connected kitchens and smart appliances. Most are well within the reach and budgets of property owners, and they could be well worth the investment – with improvements to energy efficiency particularly appealing to prospective buyers and tenants.

About the author

Gabrielle Pickard

Gabrielle Pickard

Gabrielle brings more than a decade’s writing and editing experience, having been creating and editing high quality content for a wide range of publications in the property sector, reporting about the latest trends, news and developments in this fast-paced industry that doesn’t stand still for a second.

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