【英文】牛津大学报告：房地产科技2020：房地产的未来（112页）

英文研究报告 2020年04月09日 07:31 管理员

Smart Buildings describes technology-based platforms which facilitate the operation and management of real estate assets. The assets can be single property units or entire cities. The platforms may simply provide information about building or urban centre performance, or they may directly facilitate or control building services. This sector supports real estate asset, property and facilities management. We exclude technology which supports the design and/or construction of buildings or infrastructure from our definition of PropTech (this is usually known as ConTech) and discuss this vertical in Chapter 4. Real Estate FinTech describes technology-based platforms which facilitate the trading of real estate asset ownership. The assets can be buildings, shares or funds, debt or equity. The platforms may simply provide information for prospective buyers and sellers, or they may more directly facilitate or effect transactions of asset ownership or leases with a (negative or positive) capital value. This sector supports the real estate capital markets. We discuss this vertical in Chapter 5. The Shared Economy describes technology-based platforms which facilitate the use of real estate assets. The assets can be land or buildings, including offices, shops, storage, housing and other property types. The platforms may simply provide information for prospective users and sellers of space, or they may more directly facilitate or effect rent- or fee-based transactions. This sector supports the real estate occupier markets. We discuss this vertical in Chapter 6. We can add further influences to this schematic. ConTech, whose origins lie in computeraided design or CAD, is a strong driver of smart building tech. LegalTech (characterised by smart contracts) is a facilitator of many real estate FinTech applications. Figure 2 is our updated schematic. In addition to our three initial drivers, we now include ConTech and LegalTech.

Real estate is not known as an industry which readily embraces change. The nature of the asset class, which comprises large heterogeneous assets traded in a largely private market, is perhaps a good reason for this. Homes may be too important a part of a private portfolio to take any risks with the process whereby it is traded, held or valued. It may also be the case that there is an agency problem: the professional advisors that dominate the transaction process clearly have an interest in protecting their income sources, so chartered surveyors, brokers and lawyers might all be expected to resist tech-driven innovations designed to ‘disrupt’ their work. Nevertheless, the real estate industry has undergone two periods of major technological change. In current times we are witnessing a battle for market share between traditional advisors and a discernible second wave of technology-based innovation. The first wave (PropTech 1.0) took place in the mid-1980s. This was all to do with data and computing power. The invention of computing in the 1930s and 1940s and the subsequent 40 years of development made little or no impact on property markets. The key driver of change was the introduction of the personal computer in the late 1970s/early1980s.