Every day we hear that 5G is coming and will change our lives. But what exactly is 5G, and what is the Internet of Things and how will this impact the real estate sector?
What 5G is and how it will impact the real estate sector
5G is the fifth generation of cellular networks and is one of the fastest wireless technologies ever created.
With speeds of up to 100 gigabits per second, 5G is set to be up to 100 times faster than 4G, our current broadband system. The goal of 5G is to create a fully connected Internet of Things (IoT), where computers embedded in everyday objects can send and receive data.
What is the Internet of Things?
The Internet of Things (IoT) or Internet of Things refers to that path in technological development whereby, through the Internet, potentially every object of everyday experience acquires its own identity in the digital world. The IoT is based on the idea of ‘intelligent’ objects interconnected with each other in order to exchange the information they possess, collect and/or process.
We can define it as a set of solutions for the automatic and/or remote management of systems and connected objects in the home, with the aim of reducing energy consumption and improving the comfort, safety and security of the home and the people inside it.
How 5G could change the real estate sector
With the arrival of faster connections, the impact on real estate could be widespread. Here are some of its potential applications and benefits ;
Smarter homes and buildings
5G will allow multiple devices, such as home thermostats, security monitors and light bulbs, to be connected for simultaneous monitoring. It will remove the latency or overload problems common with 4G or Wi-Fi networks as more devices are added to a home. In the commercial sector, owners of In the commercial sector, property owners may find that 5G enables instant monitoring of the mechanical and electrical mechanical and electrical systems in their buildings, enabling faster responses in the event of problems.
Artificial Intelligence (AI)
5G will lead to new time-saving tools based on artificial intelligence, including, for example, software that can automatically recognise the features of a house from photographs and insert them into the descriptions in their CRM in a fully automated way.
Enhanced augmented reality
Augmented reality could take off as a more immersive way to visualize homes, including overlaying images and text on a real-world space. Buyers will be able to exchange furniture and design features in 3D while viewing homes using a headset or smartphone. For example, RealAR, an augmented reality start-up based in Australia, offers an app that can turn floor plans into 3D homes so that buyers can view spaces virtually. With faster connections and more bandwidth, 5G could greatly stimulate innovation around augmented reality.
Flexibility to live and work, anywhere
With 5G, rural areas could become as connected as big cities, allowing people to move further afield while having instant remote access to their work and healthcare via telemedicine. With the pandemic of COVID-19 and other changes in the way businesses operate, 5G technology will enable a seamless work experience whether in a corporate office or home workspace.
5G will not be revolutionary in itself, but it will certainly enable an enhancement of all those technologies that are already being worked on. More powerful broadband will allow for faster use of many devices, which will certainly allow for better performance.
Through 5G it will be much easier and faster to connect all the devices and devices and sensors in a home. It will be easier to get high-definition images of the dwelling and to be able to take virtual tours remotely.
In general, it will be easier for property managers and owners to control variables such as heating, lighting, access control, air quality and more. It will be more straightforward to control utilities by linking individual home sensors with a centralized system that controls their use. There will be more and more talk of smart flats and buildings.
It is also important to remember that 5G will also improve security, through better data encryption, segmented networks and user authentication. More and more preventive measures will be put in place to protect the end user and their privacy.