What is PropTech financing?
PropTech is the application of information technology and platform economy to real estate markets. Some of the goals of PropTech include creating new values, services or products and saving costs. Or reducing paperwork or making transactions faster and more efficient.
“PropTech is really bringing technology into the real estate conversation, whether that be from the evaluations, to transaction process, to data management, to employee experience, to employee engagement, and everything in between,” Todd Edstrom, Southeast Technology Advisor at JLL, told levcapital.com.
According to “Transform with technology: Shaping the future of real estate,” a 2021 report from JLL, PropTech has seen 300% year-over-year growth since 2010.
PropTech encompasses the entire real estate development timeline, from predevelopment to leasing and property management, with an increasing number of products geared toward the construction phase. There are solutions for analyzing whether to relocate your future investment, to determine whether construction is on time or on budget, whether residents of a multifamily building are paying rent on time, or using too much electricity.
According to Future Market Insights, the U.S. proptech market was valued at $18.2B in 2022, and is projected to reach $86.5B by 2032. Statista also reports that executives plan to increase tech budgets by 11%. Proptech, or property technology, will continue to drive the $18 trillion real estate industry’s rapid growth by unlocking new efficiencies for professionals across all verticals.
All capital markets professionals rely on technology to accomplish things in a faster, more
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