Literature Review on the Impacts of Digitalized Solutions in Facility Management of Smart Buildings on Property Value

Kanha Teang

ERES from European Real Estate Society (ERES)

Abstract: Within the application of property valuation, there are still challenges in identifying and analyzing how the integration of digitalization into physical buildings adds value and impacts building value. The conventional valuation approach heavily relies on historical data and assumptions, often overlooking the additional value of these technologies. Instead, valuation practices can address this gap by utilizing real-time operational data from integrated digital solutions, such as sensors and visual technologies. Analysis of these data can provide deeper insights into variables influencing operational cash flow and processes of the property operation. This study aims to identify how digitalized solutions in facility management of smart buildings affect property value (both direct and indirect effects), map existing studies, and identify research gaps for the future studies. The method of this study is a structural literature review focusing on property valuation and facility management within the context of smart buildings. This review includes literatures that address factors contributing to the economic value of smart buildings, such as energy savings, operational costs, operational income, tenant attraction (occupancy rate), building lifespan, and associated discount rate. The result discusses both direct and indirect effects of SMB technologies on property value, including impacts related to building operations, management, and investment.

Keywords: Digitalized Building Valuation; Digitalized Facility Managment; Smart Building Operation; Smart Building Valuation (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2025-01-01
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