This white paper outlines trends in residential real estate technology companies (PropTech) as part of an ongoing study by WealthPark Co. on global technology trends and technology companies. PropTech is a leading company in the PropTech sector that offers various technology solutions for automation and integration of sensors, applications and IoT data systems for commercial and industrial property management. Real estate technology or “PropTech” refers to any technology used in the real estate industry, such as real estate investment software or virtual databases that list properties available for rent.
PropTech includes real estate management using digital dashboards, research and analytics, technology-enabled listing and brokerage services, mobile applications, residential and commercial loans, 3D modelling for online portals, real estate crowdfunding projects, standard space management, and organising, analysing and extracting critical data from long lease documents. By developing products and services that help people save time and money and make their lives more convenient, PropTech solutions aim to help property owners and owners manage their assets more efficiently, quickly, and flexibly. PropTech technology solutions will find application in your real estate or property management business this year and next.
Property Technology’s decisions will impact everything from construction to financing, transactions and advertising, to property management and accounting. The future of proptech is likely to continue improving the processes underpinning how real estate professionals develop, own, sell and manage properties and how tenants interact with the buildings they rent. Proptech is reimagining how people live and work in buildings and uses technology to improve those processes.
The best proptech companies are those that develop technological products that make life easier for everyone who owns, manages, builds, or lives and works in buildings. PropTech startups, construction companies, architects, investors, service providers and others working in the real estate industry.
While the proptech sector is a relatively new industry, billions of dollars have been invested in proptech companies, which is indicative of the demand for technology in the real estate industry. In 2022, the trends that have generated investor interest in proptech technologies will increase, leading to more companies investing in new technologies. While the total number of new tech companies is declining, the number of venture capital deals and the total volume of tech venture capital are rising across Europe.
According to JLL’s 2021 global real estate technology market survey, there are about 8,000 companies offering technology solutions for the built environment, up 300% from the last decade, a sign of the “maturing prop-tech startup landscape.” Raj Singh, managing partner at JLL Spark. He manages the company’s internal technology investment arm. PropTech startups providing digital solutions to simplify building management and improve building maintenance using trends such as computer vision, artificial intelligence, and IoT-enabled sensors are currently at the forefront of the mortgage industry. By 2022, there is likely to be more investment in real estate software related to construction and property management, two sectors that were essential areas for proptech investment in 2021, according to data from Crunchbase.
