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EMAIL INTERVIEW – Thomas Beyerle and Ken Sinclair
Managing Director, Catella Valuation GmbH
Speaker - Nordic Smart Building Convention 2018, Helsinki, Fi
Sinclair: What do you see in the future for the PropTech industry and which factors do you see shaping the industry the most?
Beyerle: Since its
beginnings in 2015, the PropTech industry has gained measurable
dynamics, but I still see its best times ahead of us. The fog of
terminologies – Start-up, PropTech, InsurTech, FinTech – has lifted in
the past quarters, so that there are hardly any content-related and
conceptual overlaps. Nevertheless, the first large shakeout is
imminent. Many businesses were started, but according to the logic of
innovation and development (Schumpeter) a few businesses, maybe even a
lot, will disappear from the market again. However, this doesn’t
necessarily mean all business activities will cease. The start of the
phase of Merger & Acquisitions with established companies of the
real estate industry, who purchase new knowledge instead of developing
it themselves, can be observed. I regard the development of
(international) market standards as especially important. The
time of national “island-solutions” should be replaced by international
Sinclair: How do you see us going from here to there?
dynamically. Not a day goes by in Europe, where there aren’t several
PropTech pitches. Here, I see certain interchange ability – even if
this sounds quite painful – according to my observations, there is more
adaption than innovation in the PropTech scene. Furthermore I notice
that ideas simply fail due to the data availability inside the real
estate branch. The concept is good, but the implementation falters
because of available and reliable data sets.
Sinclair: How do you see the role of AI powering building management?
is a huge potential for the coming decades. But AI and its background
algorithms are always based on data. Here, we are at the beginning –
realistically speaking. For the moment we are still quite far away from
self-learning systems or neuronal networks – machines are dumb per se
and programmed monocausally. This, however, should be an incentive to
bring more data transparency into the branch.
Sinclair: What do you see as the cornerstone of the smart building industry in general moving forward?
I see the increasing realization that buildings are software, so data
providers and data processors and not so much hardware with a price
tag. But this view will only slowly change, as the real estate markets
are structurally sluggish, which leads to dynamics and new standards as
in smart buildings only being implemented in the new-build segment and
refurbishments. The quota is at approx. 1% per year of new available
area, for example in commercial buildings in Europe – it’s a long way
to go still.
Sinclair: What topics are you looking forward to discussing at Nordic Smart Building Convention 2018?
Beyerle: The implementation of smart knowledge in the industry and the next level of innovation.
About the Author
Beyerle studied at the University of Mannheim geography and business
administration and has been graduated at the University of Stuttgart
(Dr. rer. nat.) with a thesis on international financial centers. He is
since 1995 in real estate research for German and international
operating companies. Since entering at Dresdner Bank he occupied at
DEGI mbH, Allianz Global Investors, Aberdeen Property Investors and IVG
Immobilien AG. He is currently chief analyst for the Swedish Catella
Group and Managing Director of Catella Valuation GmbH.
In addition to his professional activities, he is within the real estate industry board member in the gif property research society e.V., as in the ZIA German Property Committee in the area of transparency and benchmarking. In addition to his activities he is a lecturer at several universities in the DACH region. He is the author and (co-) editor of various publications on real estate related topics. Due to its regular, partly critical and trenchant commentaries and columns to the real estate markets and its actors, it is often invited at industry events as a speaker and moderator.
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