The world of property seems to have got its head around smart buildings. Increased energy efficiency and the improved performance of a facility brings new value for owners who can attract more tenants at better prices. Predictive maintenance for example, reduces cost and potential unexpected downtime, thereby attracting and retaining clients. Smart cities however have a much more complex relationship with property value, one that is still a mystery to many in real estate. IBM defines a smart city as “one that makes optimal use of all the interconnected information available today to better understand and control its operations and optimize the use of limited resources”. While the British Standards Institute (BSI) suggests it is the “the effective integration of physical, digital and human systems in the built environment to deliver sustainable, prosperous and inclusive future for its citizens”. At first glance, these definitions do not appear to be describing things that would immediately and […]