It’s often said that real estate is the biggest asset class in the world—and one of the least efficient. As technology continues to improve, new real estate verticals are maturing as well: smart home technology, smart buildings, and collaborative workplaces, to name just a few. Proptech comprises the technologies and applications aiming to streamline this market, ameliorating a multitude of various inefficiencies.
In our latest report, PitchBook data confirms that proptech has come into its own in recent years. In Q4 of 2021, $7.4 billion was invested in proptech, more than the industry has seen in any year before 2018. Although the mood began to change in Q2 2022, when macroeconomic factors such as interest rate hikes, inflation, and the prospect of a recession cast a cloud over the sector, proptech promises to revolutionize the real estate sector in the years to come.
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