Digital standstill in the property industry
The digitalisation of the Swiss real estate industry, in particular the integration of artificial intelligence (AI), is at the centre of current discussions. However, the latest "Digital Real Estate" study shows that the full potential of digital innovations has yet to be utilised, leading to a stagnation in the level of digital maturity.
The sixth edition of the “Digital Real Estate Index” shows a slight decline in the digital maturity of the industry for the first time since 2020, with a rating of 4.6 on a scale of 1 to 10. Despite progress made by planners and construction companies through Building Information Modelling (BIM), the development among owners and investors is lagging behind expectations.
Although two thirds of the companies surveyed invest more than one percent of their turnover in digitalisation, there is a downward trend among larger companies. External factors such as interest rate changes and supply chain problems appear to be hampering digital transformation, while regulatory requirements in the area of sustainability are acting as a catalyst for digitalisation efforts.
While AI and machine learning are still lagging behind expectations in terms of their applicability and integration into the industry, BIM is consolidating itself as an important technology for the entire life cycle of buildings. The use of smart building technologies is increasing, with the focus on resource conservation and other benefits such as user experience and comfort initially taking a back seat.
The study shows that the property industry is at a critical point in its digital evolution. Despite the obvious potential of digital technologies and the need for greater integration to increase efficiency and sustainability, concrete measures and investments are needed to drive the digital transformation forward. The study provides important insights and serves as a guideline for future developments in the digital landscape of the property industry.