Property technology (or Proptech) is the application of platform economics and information technology to real estate markets. The goals of real estate technology include reducing paperwork by digitalising and automating processes, making transactions quicker, more efficient and more transparent, and providing insight through big data analytics. Proptech often overlaps with financial technology (fintech), given the close link between the real estate and finance markets.
Data is the game-changer for the real estate market, not just as collected from consumer insights, but integrated with market, retailer, building and occupier data. As a result, the modern property mantra is no longer “location, location, location”, she contends, but “location, experience, analytics”.
WiRE is at the forefront of the digitalisation of the real estate industry, developing bespoke tools that automate processes, analyse and visualise data, and provide insight to market dynamics and consumer behaviour.