Just two percent of commercial real estate properties are equipped with dedicated technology that’s designed to provide strong mobile coverage inside the building. Nonetheless, the feature is in such high demand that those properties which do have it are seeing substantial increases in their perceived value, according to CommScope.
Dr. Ispran Kandasamy, global building solutions leader at CommScope, said in a statement that many people rank indoor wireless coverage as an essential basic utility, alongside water and electricity. “The time has come for building professionals to step forward and take ownership for connecting their tenants to mobile networks,” Kandasamy said.
CommScope’s study really raises eyebrows when we consider what such technology can do to a property’s value. The company claims that having indoor wireless technology installed can increase a building’s value by an average of 28 percent. So, an office building that’s valued at $2.5 million would see its value increase by $700,000 if an indoor cellular system was installed, according to the various architects, real estate professionals, building and facility managers surveyed in CommScope’s study.
As for the companies that rent out such buildings, well, CommScope’s study found that 77 percent of respondents believe having a strong Wi-Fi signal inside a building can increase workforce productivity, while another 46 percent said it should help a company to attract more talented personnel. In addition, two thirds of survey respondents described indoor wireless as being “essential” for employees.
Unfortunately, the only problem is the cost of installing a reliable indoor wireless network. Some 35 percent of professionals said the technology was prohibitively expensive for many companies.
“While there are clearly concerns around the cost and complexity of the technology, building owners must acknowledge that ignoring this issue could result in more costly work in the future,” Kandasamy wrote. “Engaging with architects, facilities managers and enterprises at an early stage will ultimately save money – as well as providing an enhanced user experience. Only by taking the lead will building owners be able to provide much needed connectivity in their properties.”