Abstract
In this chapter we discuss recent trends in the application of urban big data and their impact on real estate markets. We expect such technologies to improve quality of life and the productivity of cities over the long run.
We forecast that smart city technologies will reinforce the primacy of the most successful global metropolises at least for a decade or more. A few select metropolises in emerging countries may also leverage these technologies to leapfrog on the provision of local public services. In the long run, all cities throughout the urban system will end up adopting successful and cost-effective smart city initiatives. Nevertheless, smaller scale interventions are likely to crop up everywhere, even in the short run. Such targeted programs are more likely to improve conditions in blighted or relatively deprived neighborhoods, which could generate gentrification and higher valuations there.
It is unclear whether urban information systems will have a centralizing or suburbanizing impact. They are likely to make denser urban centers more attractive, but they are also bound to make suburban or exurban locations more accessible.
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Notes
- 1.
Kitchen (2014).
- 2.
Conversation with author, Oct 17th, 2016.
- 3.
Conversation with author, Sept 28th, 2016.
- 4.
Conversation with author, Nov 14th, 2016.
- 5.
Conversation with author, Sept 30th, 2016.
- 6.
Glaeser et al. (2001).
- 7.
Ibid.
- 8.
Ibid.
- 9.
Conversation with author, Nov second, 2016.
- 10.
Conversation with author, Nov second, 2016.
- 11.
Conversation with author, Nov second, 2016.
- 12.
Conversation with author, Nov second, 2016.
- 13.
Townsend (2013).
- 14.
Yongling et al. (2015).
- 15.
Government of India (2015)
- 16.
Gale International’s Press Release (2016) http://www.prnewswire.com/news-releases/songdo-international-business-district-to-be-featured-at-greenbuild-2016-as-exemplar-of-sustainable-new-city-300338912.html
- 17.
Conversation with author, Oct 11th, 2016.
- 18.
Conversation with author, Sept 28th, 2016.
- 19.
Ara andoraa (2016)
- 20.
Willams et al. (2015).
- 21.
Conversation with author, Sept 27th, 2016.
- 22.
Conversation with author, Oct 14, 2016.
- 23.
Conversation with author, Oct 21, 2016.
- 24.
See more at https://www.airbnb.com/disaster-response
- 25.
Gehl Architects (2015), Downtown Denver 16 h St. Mall: Small Steps Towards Big Change. Report.
- 26.
Williams (2013)
- 27.
See more at http://civicdatadesignlab.org
- 28.
Eells and Fletcher (2016)
- 29.
See White House Directive https://www.whitehouse.gov/open/documents/open-government-directive
- 30.
Conversation with author, Sept 27th, 2016.
- 31.
Townsend (2013).
- 32.
Gurstein (2011)
- 33.
Conversation with author, Oct 21st, 2016.
- 34.
Conversation with author, Sept 28th, 2016.
- 35.
Conversation with author, Oct 11th, 2016.
- 36.
Conversation with author, Nov second, 2016.
- 37.
Goldstein (2013).
- 38.
Conversation with author, Nov second, 2016.
- 39.
Townsend (2013).
- 40.
Conversation with author, Nov second, 2016.
- 41.
Conversation with author, Nov second, 2016.
- 42.
Conversation with author, Nov second, 2016.
- 43.
Conversation with author, Oct 21st, 2016.
- 44.
Florida (2002).
- 45.
Gyourko, Joseph, Christopher Mayer, and Todd Sinai. 2013. “Superstar Cities.” American Economic Journal: Economic Policy, 5(4): 167–99.
- 46.
Saiz and Salazar (2017).
- 47.
Ibid.
- 48.
Ibid.
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Acknowledgements
We would like to thank Professor William Wheaton for his feedback on an earlier draft and his valuable contribution to the section on future opportunities. We also greatly appreciate the generosity of experts for discussing the examples, research, and issues raised in this report. Finally, we would like to thank CBRE for the idea of creating this report and their financial support for research assistance.
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Barkham, R., Bokhari, S., Saiz, A. (2022). Urban Big Data: City Management and Real Estate Markets. In: Pardalos, P.M., Rassia, S.T., Tsokas, A. (eds) Artificial Intelligence, Machine Learning, and Optimization Tools for Smart Cities. Springer Optimization and Its Applications, vol 186. Springer, Cham. https://doi.org/10.1007/978-3-030-84459-2_10
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