Japan is well-known for its advances in construction robotics
Even though property developers around the world share a lot of characteristics and are burdened with similar challenges such as rising material costs and skilled worker shortages, it would be wrong to think of them as a homogenous mass.
Even within Asia, the ways that property developers utilize technological developments vary from country to country. Here are some of the most exciting developments from around Asia.
Robotics and automation
Robotics and automation technologies are being used by some property developers to streamline building processes, cut costs, and increase efficiency. Bricklaying, painting, and material handling, for example, are jobs that can be performed by construction robots. Japan, in particular, is well-known for its advances in construction robotics with some models already used in building sites.
Flood and disaster sensing, modelling and prediction
Low-lying areas in Asia have always been prone to flash floods and tsunamis.
Japan’s Weathernews employs AI to collect and analyze data for real-time, hyperlocal forecasts. It notifies clients of impending squalls and floods, allowing them to put up barriers or relocate equipment to avoid harm. An electronics firm just outside of Bangkok, Thailand, has signed on for the service, which tracks the likelihood of sudden weather changes nearby within a three-hour period.
Such modelling services can be especially valuable for property developers when deciding on a particular site for construction. A combination of historical sensors, AI modelling and data prediction can help identify and mitigate some of the issues from inclement weather and flooding.
Blockchain in real estate
Property transactions, land registry systems, and property ownership verification are all being rapidly digitized using blockchain technology. Countries such as Japan and South Korea have launched blockchain-based real estate projects with the goal of improving transparency, security, and efficiency in property transactions. (My company, PropertyAccess, is also investing heavily in this space. Stay tuned!)
Proptech and digital transformation
We’ve discussed Proptech at length in previous articles in this section. Online businesses offering novel solutions for property developers are on the rise in Asian countries such as China, India and the Philippines (including our own propertyaccess.ph!). Property management platforms and online markets are among the alternatives available, as are virtual reality (VR) and augmented reality (AR) applications for showing properties.
These are just some of the many innovations occurring with rapid frequency in the property industry. Some niche areas, such as building and construction drones, or new generation materials like graphene and aerogel, are still very speculative but certainly of interest to scientists and engineers worldwide.
What new innovations have you seen in this area? Let us know and we can discuss them in our next article.
The author is the COO and digital co-founder of PropertyAccess