Property technology is reshaping real estate markets around the world
The Asia Pacific proptech market has shown unpredictable trends, but it is gradually catching up
The real estate industry is growing at a rapid pace due to factors such as the increasing rate of rural-urban migration, urbanisation, and economic development in various developing countries. Data by Grand View Research indicates that the revenue of the real estate market will be worth more than USD4 trillion by 2025. Hence, the real estate sector is a promising source of return for investors because if invested strategically, they are sure to receive high profitability levels.
Despite the sector’s positive outlook and continued growth, limitations such as liquidity, taxes, and cross-border investments lead proptech to become key in addressing such challenges. Property technology (proptech) is an innovative approach to real estate marketing and has the capability to benefit all stakeholders involved in the buying and selling process.
In his article published in the ARES digital White Paper Vol. 1, James Dearsley, co-founder of Unissu, says that the global industry is starting to mature with fewer new startups entering the market. This, in turn, allows for greater transparency and a better understanding of the offers on the table.
However, Asia Pacific’s proptech market only began picking up much later on than the rest of the world at USD1 billion in 2014, while the global industry already showed fast growth with over USD12 billion in investment.
China remains the largest investment recipient for proptech start-ups in APAC, receiving 78.6 percent of the total proptech funding in 2019, according to JLL. It is predicted that more real estate companies will invest in proptech to tackle data privacy issues and use technology to achieve greater sustainability in the built environment.
Read more about the growing proptech investments in Asia Pacific at asiarealestatesummit.com/ares-digital-white-paper-vol-1/
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