Property technology, also known as proptech, is continuing to have a huge impact on the real estate sector for the year as it continues to evolve and expand.
“And it is no surprise – real estate is a hugely competitive market, and ‘proptech’ can give businesses and investors the edge over the competition,” said Nery Alaev, a real estate investment expert.
Reports reveal that companies within the proptech sector have received over $12 billion investments in just one year.
This has led commercial real estate investors to find fresh ways of using data to manage their spaces, such as coworking firm Industrious, who uses proptech software to collect data, design their spaces, and operate their monthly memberships.
“It means that tech-enabled coworking spaces like this are transforming how commercial investors are able to get a regular return from their commercial units,” said Alaev.