A period of extraordinarily rapid technological change is transforming our cities and the ways we work, live and travel. The aggregation of digital information collected by sensors, internet-enabled devices and the computerization of administrative and business data is improving the standard of urban life. It is also having an impact on real estate markets, according to the most recent CBRE Global ViewPoint.
Among the report’s findings, urban big data initiatives will reinforce major global gateway cities’ dominance, at least in the short term. This would expand opportunities for “core” investors in what is a very competitive segment of the market. At the same time, urban big data projects have the potential to influence many of the factors that drive occupiers’ location decisions, such as accessibility, quality of place and workforce appeal.
This CBRE ViewPoint is based on a fuller paper, prepared by MIT and CBRE.