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Intro

Open-Source Data – an underrated source of information

The digitalization of the real estate industry is undeniably ongoing. Data is on one and all’s mind, stretching from strategic prioritization to operational headaches. How to collect it, store it, use it, and analyze it. What strategies are the smartest, and what investments are critical. However, not all investments in data need to be difficult nor expensive. Open data is an underrated source of value and plays an important role in gaining better control over your assets as a property owner.

The Nordic countries, especially Sweden, are world leaders in generating and supplying open-source data. By accessing this type of data, property owners can gain significant competitive advantages through more homogeneous, scalable, and comparable key performance indicators (KPIs) for measuring their assets. Open property and building data from Lantmäteriet and Skatteverket, as well as energy data from Boverket, can be combined with the company’s own data sources such as area data and rental income data to provide valuable insights into the property portfolio and optimized management. The value is greatest in an overview or portfolio perspective when comparing multiple buildings or compiling data across an entire operation.

Investing in this type of data is a cost-effective way for property owners to take control of their assets, and a quick and homogeneous way to start digitizing the entire portfolio (properties and buildings). Accessed through a smart property system like Digital Buildings, the data can be used as a foundation for continuous digitalization of assets within a property (rooms, components, objects, etc.).

In summary, open data has the potential to initiate data-driven processes and insights that can facilitate decision-making for real estate companies. Open data is often available at no cost or at a very favorable price. However, they should always be compiled in a system that can extract value and present it adequately. Those who take advantage of this opportunity will have a significant advantage when it comes to making informed decisions.

Open data

What is open data?

Open-source data refers to data that is available to the public, often through public bodies or authorities, and can be used, reused, and mostly distributed freely at no cost or restrictions. This can include everything from statistics and economic information to climate data, geographic information, and much more. It can be structured or unstructured information and can be provided in various formats. Often, it contains many different types, structures and formats of information depending on the source and how it was collected.

Benifits

Top 3 benefits with Open-source Data:

  1. Increased control through higher quality data and homogeneity in the entire real estate portfolio:
    By having access to accurate and reliable data, real estate professionals can make informed decisions and take targeted actions where they will have the most impact. This can lead to better management of assets and more effective allocation of resources.
  2. Cost-effective path to data-driven insights:
    Access to open data without cost and utilizing a digital real estate system can maximize the value of information and present it in the most useful way. This can help save time and resources that would otherwise be spent on data collection and analysis, allowing for a more efficient use of resources.
  3. Improved collaboration:
    Open data can facilitate collaboration between different actors, such as property owners, construction companies, and authorities. By sharing data, all parties can have a better overview of projects, and collaborations can be streamlined, leading to more efficient and effective outcomes.

Overall, these benefits can lead to more efficient and effective decision-making, lower costs, and improved outcomes for all parties involved in the real estate industry.

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Zynka recommends – which open data is most important to keep track of:

  • Property and building register data is fundamental and important for all real estate companies, but often there is a lack of one distinct and secure source of collected data.
  • Financial data from the Swedish Tax Agency (Skatteverket) is relevant as it can guide on tax regulations and opportunities for tax deductions and property. Extra relevant for special properties.
  • Energy data will become increasingly important to monitor and follow for various sustainability indicators throughout the company and to declare more strict statutory levels.
  • Business and environmental data such as sales statistics, map data, nature data, and population statistics (depending on the organization and business) are important indicators on their own and jointly with other data for proper analysis.

Examples of open data and the value it brings:

Property and building register (Lantmäteriet)

  • Which properties and buildings do we own as a company?
  • Where are they located in Sweden?
  • What are the property boundaries?
  • How big are our properties?

Energy declarations with detailed data (Boverket)

  • What energy class do our buildings have?
  • Heating system

Detailed plans (Municipalities/Lantmäteriet)

  • Which detailed plans affect and control the properties and buildings we own as a company?
  • Tax class and assessment
  • What tax class do our different buildings have?
  • How much property tax do we pay?
  • What are our buildings assessed at?

The above provides an enormous amount of quality assured data that can be used for several different business optimization efforts and analyses. It can also be linked with your company data sources such as areas, energy consumption, and rentals for further insights such as:

  • Portfolio analysis
  • Energy optimization
  • Rental optimization
  • Vacancy analysis
  • ESG reporting

Zynka

Zynka empower optimized decision through digital precision in the construction and real estate industry. We are the digital accelerator for the foremost builders of society, enabling a value-creating digital transformation and a better society.
With our digital expertise, we make valuable information accessible and optimize our clients’ business to realize their potential, with the goal of creating greater and lasting value.
We are a strategic Tech company specializing in community construction and IT, from development and design to construction and management. As industry experts in BIM, GIS, and digital twin systems, we work towards a productive, quality-assured, and data-driven construction and real estate industry.
Visit our website at www.zynka.se to learn more.

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