PRESENTED BY UNACAST

Propmodo Technology

Feb. 1, 2024

Greetings!

This week’s newsletter, brought to you by Unacast, dives into the latest innovations in location analytics.

In the commercial real estate world, location data is crucial, but it's no longer just about broker instincts and physical attributes. Today, it's all about tapping into data on foot traffic and consumer habits. This shift allows investors, brokers, and asset managers to make more informed decisions about property values, market trends, and investment strategies. Understanding where people go and their behaviors are key to pinpointing prime locations and driving maximum returns.

In our location exploration, Propmodo Technology focuses on the various alternative data sources utilized in property decision-making, along with the growing detail offered by location intelligence. We’re also delving into mobile location data, examining its complexities beyond mere map pings and highlighting the varying quality of this kind of data.

But first, here is what else is happening in real estate technology:

Old office parks transformed
Almost every office building is struggling right now with the drop in demand for space but large suburban office parks are really feeling the squeeze. Now, thanks to tech-savvy developers and a hefty federal tax credit program, some of these large corporate centers are getting makeovers allowing them to appeal to modern occupiers while preserving their historical elements.

Doubts on sustainable construction
In the world of construction, the adoption of wood and laminate support structures has been celebrated as a sustainable choice. However, a recent report highlighting the concealed adverse impacts of logging has cast doubt on the sustainability of this promising construction technique.

Mapping zoning for housing reform
With the increasing demand for housing nationwide, there's a growing call for zoning reform. In response, researchers have embarked on a project to develop a national zoning atlas. This atlas will assess local regulations that limit the locations where larger multifamily buildings can be constructed.

AI revolutionizing construction
AI is rapidly reshaping many industries, and the construction sector is no exception. The emergence of Generative AI is aiding architects in creating innovative designs and facilitating better collaboration among contractors, engineers, and designers. The combination of computer vision, machine learning, and generative AI is poised to significantly transform the construction landscape.

Now let's dig into location analytics!

The real estate industry has historically relied on data from dated and generic industry reports to make financial decisions. To enhance their decision-making processes, real estate companies are turning to location intelligence technology. This technology collects data from mobile applications, enabling businesses to focus on specific neighborhoods or parcels in real time. This shift towards real-time information empowers the industry to gain deeper insights into how people interact with real estate and uncover hidden value.

SPONSORED BY UNACAST
Industry-Leading Location Intelligence from Unacast

Unacast is a global location data and analytics company that provides the most accurate understanding of human activity in the physical world. With its mission to make location-based insights accessible to every business, Unacast’s suite of solutions caters to companies of all sizes and technical proficiencies, enabling any organization to use location intelligence to inform critical business decisions. At the core of Unacast’s offerings are easy-to-use solutions, providing clients with reliable, high-quality, and privacy-friendly data and insights. With Unacast, clients get best-in-class location data, analytics, and insights to make better strategic decisions on a global or local scale.

The property industry is still trying to understand mobile location data. One of the big misconceptions out there is that this data is a commodity and that all location data is the same. Nothing could be further from the truth. Not only do location intelligence companies get data from different places, the way that they train their algorithms to interpret the data has a huge impact on what kind of insights it can provide and how accurate those insights really are.

Property data hasn’t changed in over a century. How much buildings sell and lease for is still one of the main ways that investors understand property value. But now savvy analysts are layering other types of data on top of the ones that were used historically. The result is a whole new depth of analysis that can inform not just how valuable a building is now, but can tell us the holy grail of underwriting: how valuable it will be in the future.

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Propmodo Daily is written and edited by Franco Faraudo with contributions from readers like you and the Propmodo team.

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