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The Proptech Industry Embraces Diversification in 2024
It’s been a rocky year for investors across all sectors. In 2023, commercial real estate investment experienced its fair share of dislocation, and CRE investment is down as much as 60% this year. But real estate isn’t the only space where investors have become skittish. Venture capital investors have also dramatically reduced funding for innovation…
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How to Leverage Automation Across the Real Estate Development Process
When many Americans get home at the end of the day, they unlock their front door with a cell phone and turn on the house lights with their voice. Air conditioners switch on instantly, home assistants play music and the ovens begin heating up for dinner, all without touching a button. It’s all made possible…
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The Next Leap with Northspyre 2.0: Elevating Real Estate Development
Real estate development is a complex industry, requiring you to navigate a variety of factors, from shifting market conditions to zoning and regulatory standards to stakeholder involvement. Delivering projects on time and under budget is more difficult than ever amid modern development challenges like ongoing economic uncertainty, labor shortages, and supply chain disruptions. Northspyre’s…
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A Real Estate Developer’s Guide to Software
Over the last few years, the COVID-19 pandemic, macroeconomic conditions, and changing expectations around work and lifestyle have increased the need for technology across industries. In a McKinsey survey of 800 executives, 85% of respondents said their businesses had accelerated digitization. Though the real estate industry has been slower to adopt new technology in comparison…
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Data Opens Big Doors for Small Real Estate Developers
Data and analytics are the cornerstone of the technological revolution in commercial real estate. The information gleaned through data and automation gives real estate organizations unique insights—and knowing what others don’t is a valuable competitive advantage. Although real estate is known for its glacial adoption of new technology and innovation, companies have quickly understood the…
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Technology Is Fueling CRE Development’s Most Valuable Asset: Workers
Americans are conspicuously familiar with the idiom “There is no substitute for hard work.” Hard work is a uniquely American pastime. Since World War II, labor productivity growth has contributed 2.2% annually to economic growth and driven 1.7% annual gains in real income. Labor is the biggest line item on a company’s balance sheet and…
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CRE Proptech Begins to Overtake the Residential Market
Last year, the outlook for the proptech sector turned grim. After a historic period of growth in 2020 and 2021, new economic headwinds and an aggressive monetary policy have curbed the roaring market growth.
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How Real Estate Data and Analytics Support Office-to-Apartment Conversions
In recent years, the trend of converting office buildings into apartments has been growing due to changing work environments, increasing high demand for urban living space, and advancements in technology. Deliveries of residential buildings through adaptive reuse hit an all-time high in 2020-2021, outpacing the growth rate of new apartment completions by 10%.
