IoT x Property, the evolution of living standards
It is now 2018, 18 years into the 21st century and many “things” are starting to be connected to the internet whether it be “big data” which we at LIFULL gather to study data pertaining to “life and living”, or it could be physical things connected to the internet to provide convenience and ease.
In this article I would like to go over a new trend in Japan between IoT (Internet of Things) and Real Estate.
Meaning of IoT: network of physical devices, vehicles, home appliances and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these things to connect and exchange data, creating opportunities for more direct integration of the physical world into computer-based systems, resulting in efficiency improvements, economic benefits and reduced human exertions.(Source: Wikipedia)
A company known as TATERU (https://www.tateru.co/en/) has focused on this technology twist and installs it into all of their newly developed apartments. With the swipe on your smartphone or tablet that plays the role of a “central control unit”, a tenant is now able to control the door lock, interior lighting and brightness, air conditioning, electric curtains, and the security system. In a case of emergency the security system will inform tenants via smartphone and on the other hand, inform tenants of today weather along with other information the tenant programs. Even if the tenant is out on vacation he/she could also program everything to seem like they are still there which would clear the risk of house burglary. Or on a hot day, they could control the air conditioner to cool the room before the tenant comes home as well. The IoT system is installed with an AI to learn and automate daily actions per tenant and it is said that the AI could learn 80% of the tenants “living actions” within 2 months. Added with the Amazon Echo this technology could also learn to turn off all lights and automatically lock the door when you leave with just a quick [Alexa I`m going to work].
Technology is starting to become a necessity for the younger generation tenants, but there is high potential that IoT could assist senior citizens in their everyday living. If you look at this with an investment perspective, there is no doubt that IoT x Property could boost your occupancy rate, rental rate, to make your investment yield higher, and also make it easier to find a buyer in the future.
If you are interested to purchase a newly built/to be built apartment enbloc from TATERU with our support then please view some of our property listings from them.