About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Wednesday, August 21st, 1:44PM
rss
Latest Headlines

Changing world, changing property market

Technology and changes to the way people work are set to transform the commercial property sector and investors need to be attuned to these developments.

Thursday, April 11th 2019, 10:07AM

by The Landlord

That’s according to an expert in property technology who is in New Zealand to speak at a series of events put on by global real estate services firm JLL.

Jordan Kostelac, who is JLL’s Asia-Pacific director of PropTech, says the future of PropTech includes buildings with augmented capabilities.

“So that’s the ability to hold a device up to a building and see all its vital data, inspect plans, get instructions for repairs, or report an issue.”

There is a host of disruptors set to dramatically impact on commercial property in the next three years, he says.

They include the “sharing economy” and co-working, which emphasise communal spaces, and the Internet of Things, which allows devices to talk to each other and thereby streamline our activities.

“Commercial tenants and buyers have rising technology expectations, requiring more expenditure upfront,” Kostelac adds.

Additionally, these changes are leading to an increasing blurring of the lines between property sectors and a greater focus on providing a product for consumption.

JLL New Zealand head of research and consultancy Paul Winstanley says the future of work – whether in the office, shop or warehouse – is in combining creature comforts with a collaborative, carefully-crafted workspaces infused with technology.

"Retail is drawing customers with innovations like ‘enter-tailing’, combining retail with entertainment.

“Industrial is no longer solely driven by manufacturing but also logistics or the opportunity to switch to big box retail. And, of course, residential now needs to be geared to be able to work from home."

He says that in Auckland all of this ties in with the Council's future plans for the city.

"Their concept is to work, play, and live; all in one space with convenience, the value of time, better transportation options, and improved shared spaces being at the heart of the city’s future development."

But it means that low-tech properties are increasingly difficult to sell or let, Winstanley says.

“Across the country we’re seeing wider gaps in yield trends for prime and secondary assets, across industrial, retail and office.”

Read more:

Growth in NZ demand for co-working space

Embrace work space changes 

Tags: Auckland Auckland Council commercial property investment property investment property management technology tenants

« Niche optionsTransforming commercial investment »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.19 4.25 4.49
ANZ Special - 3.69 3.75 3.99
ASB Bank 5.20 ▼4.25 ▼4.19 ▼4.39
ASB Bank Special - ▼3.75 ▼3.69 ▼3.89
BNZ - Classic - 3.69 3.75 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
Housing NZ Corp ▼5.19 ▼4.29 ▼4.29 ▲4.49
HSBC Premier 5.89 3.79 3.79 3.89
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.65 3.85 3.95 3.89
Kiwibank 5.80 ▼4.30 ▼4.40 4.74
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - ▼3.55 ▼3.65 3.99
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.69 4.79 -
Resimac 5.30 4.86 4.14 4.19
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 3.78 3.78 3.99
Sovereign ▼5.30 4.35 4.29 4.55
Sovereign Special - 3.85 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.79 3.84 3.99
The Co-operative Bank - Standard 5.15 4.29 4.34 4.49
TSB Bank ▲6.09 ▲4.65 ▲4.59 ▲4.85
TSB Special 5.29 ▼3.85 ▼3.79 4.05
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.69 4.79 5.19
Westpac - Offset 5.34 - - -
Westpac Special - ▼3.69 ▼3.75 ▼3.99
Median 5.50 4.29 4.25 4.19

Last updated: 16 August 2019 8:50am

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com