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Property Tech to Look Out For in 2017

21st March 2017

In the past half a century, technology breakthroughs have changed the way we live and work dramatically. From the introduction of Google way back in 1998 to the debut of the first iPhone in 2007, tech is increasingly becoming a driving force of change. It’s difficult to imagine a time before these innovations and how we coped without our trusted tech. The property market is currently seeing an injection of exciting technology innovations, and 2017 is set to be a landmark year for #PropTech.

Interactive 3D Digital City Modelling

We recently attended the Virgin Media Business PropTech event in February 2017 and were lucky enough to be shown a live demo of this great piece of 3D modelling software. VUCITY was voted the best digital tool in property in 2016. The tool allows the user to move around a virtual rendering of London, explore how existing and proposed developments will look, their impact on the skyline, view real-time transport overlays, see a street-level perspective and more. VUCITY currently have data for London, Manchester, and Paris – take a look at the coverage from BBC Future below.

Virtual Datarooms

Virtual datarooms (VDR) are about to hit the property sector and shake up the way documents are stored and distributed. Historically used in the legal sector to store records and exchange transaction information, virtual datarooms act as an online repository of information that is used for the storing and distribution of documents, such as information on a property deal. Datarooms offer many benefits to the user including improved usability and client experience when receiving files, increased tracking and analytical tools, and reduction of admin-related work. Another key benefit of online datarooms is the ability to send 3D files to clients (e.g. CAD or BIM files), and allowing them to view the files in their browser without downloading any additional software or plugins. This means clients can explore 3D renderings by dragging them around, and then approve documents online. Another key feature is security and encryption. With a continued threat to cyber security in the current landscape and many multi-national companies suffering from data compromises, SME businesses can’t overlook data security of client’s files.

Drone Technology

The use of drones has soared with practical applications involving delivery services, racing leagues, surveillance and even warfare. PropTech has also seen the potential, with property and construction firms taking an interest in the new technology. As the purchasing cost of the tech drops, commercial drones are expected to flood the market. Drones could also allow estate agents to take quick, high-definition aerial photos of properties, providing a stunning view of the home and surrounding scenery in comparison to traditional methods. Drone technology would also benefit construction projects, such as site surveying or monitoring, and inspection of structures. What are you most excited to see and which trends have already made an impact on your business or sector? Tweet us @huddledigital.

March 21, 2017
By Tom Parson