Why analytics is gaining prominence in real estate
August 3, 2015 | 1 min read
Today, more and more priority is given to business analytics in real estate management, observes Ingrid Janssen, associate professor of real estate management at TIAS. However, it is not that easy to collect data necessary to gain insights.
“It is not so surprising that real estate analytics has been receiving so much attention in 2015,” says Janssen. One of the reasons is the increasing focus on governance. "Supervisory bodies, such as the Financial Markets Authority, demand more transparency in real estate data. After all, there is a lot of capital in the market. There is an increasing expectation that valuations and transaction prices should be underpinned by solid information.”
In addition, good data analysis is crucial to making – well reasoned – decisions on real estate investments. “It can no longer be taken for granted that buildings should increase in value as a matter of course. Insights into the state of maintenance, facilities offered, and energy efficiency become increasingly important in order to keep a tenant satisfied so that he will not start looking for another location. Operational costs increasingly be assessed in the context of customer satisfaction.”
Read the full interview on the role of asset management
and the importance of asset management in the Master of Real Estate on the Dutch version of TIAS.edu.