The proptech, the real estate future

The technological tools are called to control the market in the near future.

Revolution

New technologies are revolutionizing all markets, and the real estate world is not lagging behind; new companies and startups are flooding the sector with new proposals that seek to simplify the whole sale process, with a much simpler, more comfortable and effective experience for both sellers and buyers.

This new subsector was born with the intention of adding value to the real estate sector at all levels; marketing, portals, catalogs, management, smart homes, among many others. Aguirre Newman Digital and Finnovating already estimate 60 companies in Spain that can be nailed in this area, with a very promising future.

The market is starting to open in our country

We are not at the forefront of this revolution, although sooner or later it will be at the same level as in other areas like the United Kingdom, where there are already more than 250 proptech companies in the real estate sector. The market has grown exponentially over the last five years, from $ 221 million to $ 2,665 million, especially in the United States and the United Kingdom, according to CB Insights.

However, this type of services are already in existence in Spain; promotions that are not yet finished, but that can already be visited, in a virtual way. This is the case of the Spanish company BaboonLab, a startup company with the headquarters in Zaragoza, and that has applied video games technology   to transfer this experience to the client, saving all physical costs.

Virtual reality

Virtual reality is one of the areas that seem to be called to offer more benefits in this market. Currently the buyer has to visit the sample floors, move, arrange visits, etc. But with this new possibilities, you can have a much more sensitive and comfortable experience, from the living room, being able to customize the environment to suit your needs, and get more to the idea of ​​the real final product.

This new business model opens the door to the dynamization of the real estate market, because it will be much easier to visit every place in the world, compare prices, etc. in a much more intuitive and fast way; if you had to visit 3 apartments and spend an entire week, with these new technologies, it will be possible to see them in just one morning.

Opportunity for satellite companies is also important to emphasize; there are many related industries like decoration, reforms, among others, that will adapt to this new reality also to finish offering a hyper-realistic experience to the customer.

Juli Alsinet Hernando || Barcelona

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