The PropTech industry is currently valued at over £14 billion
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Growth of global PropTech funding over time by Unissu
PropTech has been gaining interest in the last two years as investors and estate agents look to find and secure properties in an increasingly changing market
UNITED KINGDOM, April 9, 2024 /EINPresswire.com/ -- PropTech, short for property technology, has been gaining interest in the last two years as investors and estate agents look for new ways to find and secure properties in an increasingly changing and saturated market.
PropTech encompasses a wide array of technologies that revolutionise the real estate industry and can help property owners, investors and landlords identify new prospects or how to improve their portfolios. These innovations reshape how we interact with buildings, manage properties, and enhance the overall real estate experience. By using cutting-edge AI to crawl through online property resources such as Rightmove and Zoopla, users can identify opportunities such as potential HMOs, identify properties that will be open to probate or even streamline marketing campaigns such as generating letters targeting specific postcodes.
PropTech has transformed the real estate sector by replacing traditional paper-based documentation, face-to-face transactions, and human upkeep with automated procedures and workflows. This not only saves time but also improves efficiency in all areas of real estate operations. Furthermore, PropTech solutions help businesses reduce costs and increase profits by providing vital insights and improving return on investment.
And PropTech investment in the UK is only increasing. The UK is at the forefront of the European boom, with London being recognised as the hub of the PropTech industry leading to massive investment. The PropTech industry, which is currently valued at over £14 billion , is expected to grow to approximately £71 billion by 2032 as new start-up businesses enter the market to compete with the more than 800 existing PropTech enterprises. With property being one of the largest asset classes, valued at over a whopping $10.5 trillion in 2020 - it’s no wonder that prop tech has been seeing a flurry of interest.
Furthermore, it promotes properties using advanced virtual tools, improves stakeholder communication, and increases transparency using technologies such as big data and blockchain, ensuring that all parties involved have access to accurate information.
One such PropTech platform that has been garnering great success is Propmarker, which has cornered the investment market, creating an AI tool that calculates the potential ROI on properties and includes the most up-to-date information about potential rent income, bridging loans and even flip analysis for profit.
Milton Rodosthenous - Propmarker Director says “Everyone talks about using artificial intelligence in PropTech but PropMarker has done it. It allows property novices the ability to spot opportunities like seasoned pros and it still blows me away and the machine is still learning. We can’t wait to see what 2024 has in store for this incredible tool”
PropTech solutions will continue to disrupt the real estate market and transform the way property owners and investors build their portfolios.
Charlie Harding
Strategy Plus
+44 121 638 0457
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