PropTech is a collective term for companies offering technologically innovative products or applying new business models to the real estate industry

  • This includes the commercial, residential and industrial real estate sectors, and related activitres such as construction and building materials, architectural design, smart building automation and property management
  • One of the main objectives of PropTech startups is to address the inefficiencies of the sector and create flexible solutions, increasing both user satisfaction and the profitability of incumbent companies. Currently, the real estate sector is burdened by countless inefficiencies that are witnessed in day-to-day operations. These range from the need for multiple intermediaries to be involved in every transaction to the inefficient building management solutions in place
  • The solutions provided by PropTech startups offer to revolutionise the sector across numufoux areas, such as property sales and rentals, property management, home automation, property, construction and mortgage lending
  • Despite the growing acknowledgement of the benefits that Property Technology can bring to the industry and the recent efforts to better understand the various ways in which it can benefit their business, adoption still lags behind what we see in other industries