Having accurate data about a building is essential for any transaction and during the entire lifetime of the asset, with proptech solutions gaining ground in the industry, concluded speakers during the data and technology panel of CEE Property Forum 2022 in Vienna.
The framework for future real estate has several development pillars, including digitalization. AI is one of the biggest trends in PropTech alongside blockchain and building management systems, according to Seweryna Afanasjew MRICS, Head of Asset Management Poland, GTC / Chair of RICS Advisory Board in Poland, who chaired the panel.
The quality of data from each stage of the life cycle of real estate impacts the reporting activity, explained Zbigniew Deptuła, Partner, Global Compliance & Reporting, EY. In 5 years, we might be in real time for tax reporting. We will plug-in ERPs to tax authorities, and they will see all data live, he added.
Libor Holík, CEO Czech Republic and Slovakia, B+N Czech Republic Facility Services, explained that facility companies are collaborating with renewable energy players in a bid to help property companies meet their ESG targets. For instance, the return on investment on solar energy has fallen from 15 years to around 2 years.
One of the challenges in transactions is that sellers are not able to provide good data all the time, explained Dávid Jakab MRICS, Managing Partner, Realiscon. He added that analyzing data is essential for retrofitting projects of existing buildings.
According to Andreas Kozma, Founder & CEO, iREMS International AI, in order to have good metrics, you need to have good ESG standards. He went on to say that the real estate sector is more of a follower market when it comes to the implementation of new technologies.
