Proptech revolution: The Philippines’ rise as an outsourcing hub

The convergence of real estate and technology is transforming the world’s largest asset class

Proptech has revolutionised the way properties are bought, sold, and managed. ASTAConcept/Shutterstock

Real estate, the world’s largest asset class, is being transformed by technology. According to telecommunication company TM One, Property technology is expected to take off across the Asia-Pacific region where it accounted for 65 percent of global proptech financing deals in 2017. Urbanisation is driving demand for real estate, with China and India alone accounting for 27 percent of the expected global growth in city populations. 

Residential proptech has evolved from early online marketplaces to provide value-added services such as data and analytics and virtual viewings, while AI and blockchain will play a role in future development. Blockchain technology has the potential to offer increased transparency, reduce costs for investors and increase liquidity, but regulators have cautioned that some platforms could be open to abuse by criminals.

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Customer resource company Piton further discussed that proptech, the convergence of real estate and technology, has revolutionised the way properties are bought, sold, and managed worldwide. The Philippines has emerged as a top destination for Proptech outsourcing due to a unique blend of factors that make it an ideal choice for companies seeking to scale their operations and tap into a diverse pool of talent. 

The country boasts a cost-effective workforce, highly skilled in English, with expertise in various fields, including software development, data analysis, and customer service. The strategic location of the Philippines in Southeast Asia further enhances its attractiveness as an outsourcing destination. The Philippine government also plays a crucial role in fostering the growth of the outsourcing industry by offering incentives and implementing policies that encourage foreign investment. 

Proptech companies outsourcing to the Philippines benefit from a wide array of services, including customer support, sales, marketing, data processing, software development, and financial management, utilising multiple communication channels to deliver a personalised experience. As the PropTech revolution gains momentum, the Philippines’ role in the global landscape is poised to grow, bolstering its status as a premier destination for companies seeking to outsource operations.

The Property Report editors wrote this article. For more information, email: [email protected].