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Leveraging GIS Potential in Real Estate

The advantages of GIS in real estate: here’s how this technology provides an in-depth view of the real estate market and its influencing factors

The real estate sector is intrinsically linked to the ability to analyze, understand, and predict market dynamics.

GIS technology is an essential tool in the dynamic and competitive real estate industry, as it offers an in-depth understanding and detailed visualization of spatial data.

To functionally implement GIS technology in real estate, we recommend using a GIS software for real estate that enables the creation of digital models that interact territorially to connect real-time information produced by technicians, construction companies or maintainers.

Discover the role, applications, and benefits of GIS in the real estate sector.

Applications of GIS in real estate

GIS, or Geographic Information System, in the real estate sector, represents a fundamental technological tool that leverages geographic advantage to optimize investment and management decisions.

GIS goes beyond simply identifying a site; it aims to find the best possible site to meet specific investment or development needs. Visualizing information on maps, combined with analytical power, reveals trends, patterns, and opportunities that may not be detected solely through tabular data.

GIS in real estate has various applications such as:

  • site selection/strategic planning;
  • portfolio analysis;
  • competitive market analysis;
  • demographic mapping and reporting;
  • report generation.

In summary, GIS provides the necessary answers to make the best choices in real estate, allowing for a thorough evaluation of opportunities and maximizing return on investments through an in-depth understanding and effective visualization of spatial data.

Benefits of GIS in the real estate sector

GIS provides advanced tools for analyzing location in various contexts, significantly improving the effectiveness of real estate investment strategies.

Among the benefits offered by GIS technology, the following can be highlighted:

  • rapid identification of properties and immediate access to related information;
  • integration of data from different sources (land registry, topography, etc.);
  • thematic attribute visualizations: through graphical representations, such as displaying properties with expiring permits, GIS facilitates data understanding and identification of any critical issues;
  • site selection and market analysis: using geospatial data such as demographics, traffic patterns, and market trends, GIS helps identify areas with growth potential, target specific customer segments, and make informed decisions on real estate investments;
  • spatial visualization: visually representing data on maps, GIS facilitates identifying relationships and patterns, enabling the identification of opportunities and communicating complex information more effectively;
  • portfolio management: by integrating property positions, leasing information, and financial data into GIS platforms, a comprehensive view of the portfolio can be obtained, facilitating performance evaluation and strategy optimization.
  • market intelligence and competitive analysis: GIS allows for collecting and analyzing market data, identifying emerging trends, evaluating competition, and gaining insights into market dynamics;
  • risk assessment: GIS technology assists in analyzing and managing risks associated with real estate investments by integrating data on natural risks (flood zones, seismic activities), environmental factors (contamination, protected areas), and regulatory constraints (zoning, building codes);
  • marketing and visualization: by developing interactive maps, 3D visualizations, and virtual tours, GIS provides a better understanding of property location and services offered, facilitating communication with potential investors or tenants. In this regard, we recommend using a GIS software integrated with openBIM that allows you to leverage virtual and augmented reality to explore constructions and infrastructures.

How to apply GIS in real estate

For the proper implementation of GIS in real estate, it is essential to digitize real estate assets through management information systems and data modeling protocols that structure information. This ensures the availability of accurate data at the right time and in the required format throughout the asset’s life cycle.

Efficient management of real estate assets is possible thanks to the management of floor plans and geolocation of resources provided by GIS technology.

The 3D digitalization of technical drawings and designs is a fundamental step. To quickly obtain a georeferenced three-dimensional digital model of a plant, you can use software for transitioning from 2D to 3D/BIM that supports the transition from 2D paper drawings to 3D models using Artificial Intelligence.

Once the digital 3D model is obtained, you can maximize benefits by creating GIS maps linked to BIM models, providing all kinds of information on the digital twin of the work. To do this, it is useful to use the specific BIM-GIS software, the cloud application for geolocating BIM models on thematic GIS maps. This tool offers collaborative working functions to communicate and collaborate in real-time with the work team.

OpenBIM-GIS integration for real estate

The integration between openBIM and GIS has attracted considerable interest as these two technologies complement each other in building and built environment modeling. BIM provides detailed information on buildings, while GIS enables spatial data for the entire built environment, offering advantages in real estate asset management.

Implementing this integration allows for shared updating of information on openBIM-GIS models, providing real-time access to openBIM information through GIS for geospatial queries.

The main benefits resulting from the integration for real estate include:

  • detailed knowledge of each property or infrastructure feature appearing at a territorial scale on GIS
  • powerful queries that simultaneously integrate all GIS data at a territorial scale and all construction data contained in openBIM models
  • efficiency improvements and cost reductions;
  • increased collaboration and information sharing;
  • simplification of maintenance and facility management;
  • promotion of environmental sustainability and energy savings.

OpenBIM-GIS integration for real estate valuation

The openBIM-GIS integration also offers a significant advantage for real estate valuation.

Real estate valuation is the process of estimating the unit value in current market conditions by examining influencing factors holistically, considering environmental, physical, legal, and socio-economic property characteristics.

Valuation criteria are generally classified into two groups as external and internal factors: while external factors are related to location and environmental attributes, internal factors are related to the physical attributes of the property.

Using GIS and openBIM in real estate valuation activities provides easy data manipulation, advanced automation, excellent spatial analysis capabilities, and accuracy with a scientific and objective approach.

GIS analysis can be used to assess environmental factors such as proximity, terrain, network, traffic density, exposure to sunlight. On the other hand, physical and structural factors can be analyzed using openBIM.

For a total and dynamic integration of openBIM-GIS technology, I recommend using a GIS digital twin software that allows for comprehensive and innovative real estate asset management, integrating GIS technology with openBIM IFC models.

Technologies and GIS tools in the real estate sector

Below are a series of technologies and tools implemented with GIS technology that enhance real estate asset management.

GIS digital twin

The digital twin represents a faithful digital reproduction of a real asset, allowing the virtualization of the property’s entire ecosystem, including all details about the asset itself and the surrounding environment.

Through the use of digital twins, it is possible to instantly access digital representations of numerous physical objects and systems, which can be updated and monitored in real-time.

The integration with GIS further enhances these management and control capabilities, offering geospatial analyses that simplify geolocation and improve understanding of interactions and interdependencies between different elements.

These are known as geospatial digital twins, digital models that interact territorially to connect real-time information. Buildings become real devices capable of interacting with each other at a geospatial level. This integration is made possible thanks to a GIS digital twin software, a powerful tool to use in real estate that facilitates monitoring building performance and energy consumption, planning and costs of maintenance interventions, HVAC system operation, as well as structural efficiency and safety.

For further reading, see Digital twin real estate: how it works, benefits, and uses

BIM-IoT-GIS Integration

The future of GIS in the real estate sector is promising through the integration of GIS with emerging technologies such as artificial intelligence and the Internet of Things.

Thanks to the BIM-IoT-GIS integration of structural monitoring software, it is possible to view sensor data directly on the BIM model and geolocate real estate assets on GIS maps to assess their behavior in relation to environmental and traffic conditions. Structural monitoring can help safeguard the integrity of buildings over time.

GIS and facility management

Geolocating assets, real estate, and facilities and linking management and maintenance information to assets is essential to gain detailed knowledge of real estate assets. For this integration, you can rely on a GIS asset management software that allows access to Asset Management and Facility Management data directly from the GIS view.

This tool allows you to:

  • monitor the status of complex infrastructure systems:
  • receive real-time alerts on dangerous situations at a territorial level;
  • dive into the details of the individual element causing anomalous behavior;
  • remotely control infrastructure with virtual reality involving multiple operators connected in the cloud simultaneously on the same model.

For example, you can delve into maintenance interventions to be carried out on each individual model, the properties of each asset, active maintenance tickets, activities performed on each object.

Future of GIS in real estate

Looking ahead, the role of GIS in real estate and real estate management is expected to expand further. As spatial data becomes increasingly available and technology itself becomes more sophisticated, the possibilities for its application in real estate are virtually limitless.

For example, GIS can be expected to be used in predictive analysis, where it could be used to predict changes in property values based on factors such as planned infrastructure developments or changes in local demographics. This could provide a significant competitive advantage by offering the opportunity to anticipate market changes and adapt strategies accordingly.

In conclusion, in a future perspective, the use of GIS in real estate and real estate management will undoubtedly become not only common but essential.