Since PropTech is based on advanced technologies such as artificial intelligence (AI) and Big Data, companies and real estate users benefit from PropTech mainly through the automation and digitalisation of processes. Therefore, this type of real estate technology has the potential to minimise costs and resources associated with real estate transactions, maximise efficiency through intensive data gathering and analysis, save time, and personalise property management.<\/p>\n\n\n\n
Types of PropTech: Residential and commercial property tech<\/h3>\n\n\n\n
According to Deloitte<\/a>, PropTech uses technology to transform and improve the way we buy, sell, plan, build and manage residential and commercial real estate<\/a>. Basically, this means PropTech can be used for both business-to-consumer (B2C) and business-to-business (B2B) solutions.\u00a0<\/p>\n\n\n\n From an end-user perspective, residential real estate technology focuses on smart property solutions for individuals in order to facilitate the way people own or rent their houses or apartments. An example of a residential property platform is Airbnb<\/a>, which is designed to help individuals rent out homes on short notice. Despite the rental platforms, there are also residential property technology<\/a> solutions such as:<\/p>\n\n\n\n Commercial Property Technology, or CREtech, is designed to help real estate companies and property professionals efficiently manage, search, lease, and sell property assets. While Residential PropTech is used by individual residents, CREtech means using all innovative tools for business purposes. <\/p>\n\n\n\n Examples of commercial real estate platforms include Kterio<\/a>, which allows property owners and operators to visualise and manage all assets, and LoopNet<\/a>, a platform for leasing and buying commercial real estate. CREtech tools can be divided into:<\/p>\n\n\n\n The number of new PropTech companies is increasing every year. A look at the statistics <\/a>shows that the United States hosts the largest group of PropTech companies at 59.7%, followed by Europe (27.2%) and Asia (3.5%).<\/p>\n\n\n\n The European market has become increasingly popular for PropTech companies in recent years. According to PWC<\/a>, the PropTech market in the EU is expected to reach $69 trillion by 2033. The leading PropTech country in Europe in 2021 <\/a>was Spain, with $2,500 million in investments. Spain is followed by the UK, with the largest number of companies (709) and $2,300 million in investments. The PropTech market in the UK is expected to grow at a compound annual growth rate (CAGR) of 17.1% through 2032<\/a>. Germany rounds out the top three with $2,100 million in investments and an expected size of $444.39 million by 2028<\/a>.<\/p>\n\n\n\n PropTech is changing the way people sell, buy and rent properties. Here we highlight some groups in the real estate industry that can benefit from innovative tech solutions.<\/p>\n\n\n\n Landlords and property managers can use this smart technology to simplify and streamline processes, such as:<\/p>\n\n\n\n Digital PropTech solutions offer tenants a flexible experience in a variety of ways:<\/p>\n\n\n\n The goals of PropTech for real estate investors are to increase efficiency and profitability. PropTech enables real estate investors to:<\/p>\n\n\n\n Kterio<\/a> is a unique platform that provides its clients with best-in-class solutions for managing, analysing, and optimising commercial real estate portfolios of any size. This platform has been enhanced by the developers at Valcon to provide benchmarking, reporting, and asset-level control. This way, owners are no longer tied to the equipment vendors’ proprietary systems and maintenance programs.<\/p>\n\n\n\n Bloxs<\/a> is a revolutionary Dutch software provider specifically for real estate organisations. The software is based on the three pillars of ERP, hyper-automation, and data analytics. Bloxs is aimed at companies operating in all sectors of the real estate industry: from residential to office to retail and logistics properties.<\/p>\n\n\n\n Convect<\/a> is a user-friendly, innovative, and reliable software for real estate professionals. This software offers several special features such as the online editor for annual reports, integration with email, automatic exchange of collection and payment files with banks, or the central search engine. This way, real estate professionals can work more efficiently, get a clear overview of all incoming invoices, contracts or repair requests, handle booking and payment processes fully automatically, as well as manage VAT or payroll administration.<\/p>\n\n\n\n Luxs<\/a> is software that works with the entire real estate chain, including ERP systems, contractors, suppliers, etc., ensuring an audit and data solution with extensive visualisation capabilities without human intervention. This software uses smart data to create the digital twin and provides services that improve processes around real estate. This way, all parties involved in the real estate chain can derive more benefits from the data.<\/p>\n\n\n\n In order to take a step forward in the real estate industry and provide higher-quality services, companies must adopt innovative approaches and take full advantage of modern technologies. Without prior experience in the technical field, this may not be an easy task. But Valcon can jump to your rescue. Our developers have a lot of experience in the PropTech space and have worked for many industry giants like Bloxs<\/a>, Luxs<\/a>, Kterio, and many more.<\/p>\n\n\n\n Want to know more?<\/strong> Focus on your business, and Valcon<\/a> will make sure you get the best PropTech solutions. If you want to know more, please reach out to paul.ten.haaf@valcon.com<\/a>. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":" In recent years, the digital transformation has shaken up the real estate industry so much that in 2021 the European PropTech market has reached a share of around 20% of global investments and around 31% of commercial real estate investors plan to invest in PropTech companies.<\/p>\n Let’s take a closer look at what PropTech is exactly, what is behind the PropTech umbrella, and why real estate professionals see it as the future of the real estate industry.<\/p>\n","protected":false},"author":27,"featured_media":27803,"menu_order":0,"template":"","meta":{"footnotes":""},"insight-types":[25],"service":[19],"industry":[],"class_list":["post-27788","insights","type-insights","status-publish","has-post-thumbnail","hentry","insight-types-blog","service-technology"],"yoast_head":"\nResidential Property Tech <\/h3>\n\n\n\n
\n
Commercial Property Tech<\/h3>\n\n\n\n
\n
PropTech in numbers <\/h3>\n\n\n\n
![\"proptech](\"https:\/\/valcon.com\/wp-content\/uploads\/2023\/05\/proptech-inpost-3-1-768x432.png\")
<\/figure>\n\n\n\nWhat do PropTech solutions bring to landlords, property managers, tenants and investors?<\/h3>\n\n\n\n
Landlords and Property Managers<\/h6>\n\n\n\n
\n
Tenants<\/h6>\n\n\n\n
\n
Investors<\/h6>\n\n\n\n
\n
Remarkable Property Technology Solutions with Examples <\/h5>\n\n\n\n
Commercial Real Estate Software<\/h6>\n\n\n\n
Rental and Sales Platforms<\/h6>\n\n\n\n
Real Estate Professionals\u2019 Software<\/h6>\n\n\n\n
Real Estate Chain Software<\/h6>\n\n\n\n
How real estate companies can keep pace with PropTech<\/h3>\n\n\n\n