Based on these and other observations and analyses, there are four main trends affecting the PropTech scene in Europe to look out for:
1) Digitalisation of processes
The shift of management and sales processes to digital takes account of changes in consumer behaviour and offers enormous potential to optimise and conserve resources. This includes e-signatures, a trend taking hold in many countries and making it possible to sign contracts quickly on a terminal device. Another aspect is the automation of building management tasks, such as online payments and accounting, as well as the digital processing of repair requests and maintenance planning. However, due to the coronavirus pandemic, the trend that has grown the most is digital tours of properties.
Providers like Nodalview that specialise in this area make it easy for brokers, as their platforms include photos, videos, 3D views, etc... The critical element here is a smartphone app. Customers also have the option of purchasing more suitable photographic equipment if necessary.
Offerings that span different sectors, such as Meero, are also used in the real estate market. This French start-up, which reached the coveted unicorn status in just three years, finds photographers on a project basis and uses artificial intelligence to optimise and retouch the resulting images.
Increasing digitalisation is affecting not only back-end processes –– it is also occurring on the customer side.
2) Digitalisation of daily work and lifestyles
Routine tasks and everyday work are primarily occurring on digital platforms in ever-increasing areas. This is reflected uniquely in the real estate world by the HqOS app. Like intelligent home technology, this app focuses on the digital networking and management of office and other commercial properties.
Marketed as a “tenant experience operating system,” HqOS makes it possible to design intelligent spaces that expand the customer experience as a tenant and user of real estate to include a digital dimension. It offers additional data analysis and tenant management capacities for property owners, making developing and implementing a letting strategy easy.
3) Real estate crowdinvesting
On the investment side, a concept that has already seen significant success in many other sectors is now catching on in the real estate world: crowdfunding or crowdinvesting. By enabling even smaller investment amounts, it taps an entirely new group of primarily young investors, previously deterred by the higher barriers to entry of traditional real estate investments.
For example, the start-up IMMO Capital works with residential real estate portfolios in high-quality European markets like London and Hamburg. By focusing on individual residential units, like condominiums, instead of entire apartment blocks, the investment management company can also cultivate a part of the real estate market often neglected by large investors.
4) Data-based and AI-supported solutions
One aspect that connects the many stakeholders in the real estate market is the need for reliable market data and analyses. These are now more accessible and meaningful than ever, thanks to property data collection and processing innovations –– provided they are used correctly.
This is precisely where PriceHubble comes into play. Originally from Switzerland, the B2B real estate PropTech is active in many European markets and Japan. Its innovative real estate valuation, insights and analytics solutions address the entire real estate value chain for real estate agents, banks and financial services, property managers and more.
PriceHubble applications collate data to deliver in-depth residential real estate market analytics. Its algorithms can accurately determine any residential property's current market and rental prices. PriceHubble insights therefore form a reliable base for any type of decision or measure related to real estate.