As the world's population steadily increases, cities become more crowded and it is more important than ever to build them smarter and more sustainably. Proptech plays an increasingly decisive role in this.
What is proptech?
As suggested by its name, the term is a combination of the words ‘Property’ and ‘Technology’ and refers to the digital transformation of the real estate industry. The newly accessible wave of IoT devices means that real estate in city centres can be built in smarter ways, and existing real estate resources can be maximised. Proptech is a key aspect
Proptech and parking
While proptech technologies often bring to mind energy efficiency, water efficiency, layout planning, etc, smart parking technology is often overlooked. Parking management systems installed in either smart buildings or even older buildings with existing parking spaces have proven to be a major source of efficiency. Whether it’s by licence plate recognition, keypad or other, every user of the car park is granted access based on a reservation they have made on an online platform. This provides significant benefits:
- Only those with a reservation can enter the car park. For instance, tenants and visitors who have been registered, or external parties who need a parking and have reserved. This saves time and CO2 emissions, as aimless driving around is eliminated (reserved spot is guaranteed).
- Real time availability of the parking is trackable. Drivers know before they leave from their destination whether there are available spots, or whether they need to park at a different building - made possible by the connectivity between the buildings.
- All users of the car park are registered as they reserve their spot, resulting in increased security for the building owner and other parking users
- Automated access for registered drivers means building and office managers can be allocated to tasks which are more worthwhile of their time
- Today’s ‘nomadic worker’ can easily switch between coworking spaces without having to worry about parking access, as all systems are connected
Parking management systems as profitable inner city traffic minimisers
While other proptech technologies present the opportunity to save money and offer significant returns on investment, a parking management system also generates profit. The opportunity to track the real time availability of the parking spaces means that the unoccupied spots can be rented out to external users. The parking management system’s ability to communicate with other smart buildings in the area means all parking availability in the area is pooled and optimised.
Proptech in multi-tenant buildings and coworking spaces are continuously optimising the flows of people and resources. The latest developments in proptech parking technology will also see it reducing C02 emissions and improving traffic flows in today’s smart city.
Words: Emma Goodman - Head of Marketing and Operations at Mobypark