A “smart home,” built and designed to be controlled via a smartphone, is coming to Richmond.
ASPAC Developments is working with electronic product company Bang & Olufsen to install a “smart home” system in its new waterfront 2 River Green project at 6611 Pearson Way, which is slated to be completed by 2020.
All 287 units will be equipped with an automation system that controls the locks, lights, sounds and temperature of the apartment through a wall-mounted touch screen.
Owners can also control settings on an App on their smartphone, iPad or Apple Watch while away from home.
“You can adjust the temperature and turn on the light and music before you arrive at home. When you walk through the door it’s all set for you,” said Simon Lo, sales director of the project.
The company claims to be the first in Canada to build an entire condo complex with a standard pre-programmed home automation system.
“We lead the trends, not follow them. By using technologies, we maximize home owners’ experiences and exceed their expectations,” said Lo.
The highlight of the system is the all-in-one “packaging” function. Users can adjust the facilities to fit one specific scenario and recall all the settings by pressing one button.
“For example, you can preset a ‘film’ theme and adjust the light and audio level to your taste while watching a film. When you watch a movie at home again, just press the ‘film’ button, and the system will create the scenario for you automatically,” said Lo.
Buyers can also upgrade their condos with more features such as automated television control.
However, one housing expert said the technology is not for every homeowner in Richmond, but another luxury “add-on” to the condo to attract more high-end buyers.
“It (home automation system) is good marketing,” said Thomas Davidoff, real estate economist from UBC.
“Rich people may care about technologies that are not so practical and are willing to pay extra for them…if the project looks fancy and is in a good location, they (developers) can easily make it desirable for buyers with sufficient money here and overseas.”
The automated homes do come with a higher price tag.
Ranging from 540-sq.-ft. one-bedroom units to 3,100 sq.-ft. penthouses, the project sells for about $1,000 per square foot – much higher than the July average condo price of $632 per square foot in Richmond, according to the Real Estate Board of Greater Vancouver.
This pricing makes it one of the most expensive condo projects in Richmond.
“Our targeted buyers are the ones willing to pay for the value of the home. It’s like buying a phone, there are cheaper ones on sale, but you are willing to pay more for a good one because it’s worth it,” said Lo.
The company has tasted the sweetness of integrating smart technology into real estate, as 75 per cent of the units have been sold since May, according to Lo, and more interested buyers are coming to its presentation centre near the Olympic Oval to experience the technology and place an order.
The company also has a sales office in Shanghai, targeting potential buyers in Mainland China and Hong Kong.
“By targeting high-end buyers, developers can make more profit by selling the same amount of units, especially when the luxury housing market is still big. That’s why we see more and more new condos going in luxury direction,” said Davidoff.
Lo said he believes “smart homes” are a rising trend and more functions will be included, such as curtains, cooking facilities, washing machines, etc.
