The CRE industry is booming, but the future is silent. Newly-invented soundproofing material could increase value for apartments, condos, offices, and other commercial real estate spaces.
Engineers at Boston University have created an “acoustic metamaterial” that can cancel 94% of sound—making it inaudible to humans. The open, 3D-printed ring allows air and light to travel through but reflects sound frequencies back toward the source.
The metamaterial can be customized to any shape and applied to bricks, tiles, or any other material to help reduce noise. When this metamaterial becomes available commercially, CRE is at the top of the list of industries that stand to profit. Here’s why:
As environmental noise decreases, CRE property value increases
A study examining home price discounts for noise disturbances found that close proximity to airports, railway tracks, highways, and busy roads all discounted a home’s price by roughly 10%. That’s because excess noise is disruptive for residents, and can even lead to health problems.
But residents of single-family homes aren’t the only people affected by environmental noise. Tenants in office spaces, condos, and apartments are all at risk of outside noises affecting their lives, and those buildings are at risk of lost value.
What if CRE developers were able to use the soundproofing metamaterial to eliminate noise disturbances from airports, city traffic, or even noisy neighbors and coworkers? Because it can be applied to any environment, the Boston University engineers say it’s possible.
By eliminating outside noises for CRE spaces with soundproofing material, developers can add significant value to their properties. And developers and tenants aren’t the only ones who stand to benefit. Brokers’ clients will likely pay top dollar for buildings without environmental noise because they know their tenants will also be willing to spend more. So, brokers who jump at the chance to deal in sound-proofed buildings can reap the benefits.
Do you think your clients would be willing to pay more for cutting-edge soundproofing? Join the conversation by tagging us on Twitter @BuildoutInc.