Better use of tech is critical for real estate

Leading Irish property investor IPUT says the commercial property sector has been slow to embrace digital technology and property owners need to reassess their business models. One estimate suggests real estate is lagging other sectors by as many as five years, according to a report from IPUT. “Commercial real estate has been slow to adopt new technologies. The traditional business model of letting properties on a 10-20 year basis has not demanded it. But things are changing,” IPUT said, citing the rise of disruptive property companies such as WeWork and noting that changing demand had brought an opportunity for investors and developers to rethink solutions to improve “efficiency gains and additional revenue streams.”

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