We’re kicking off a new monthly summary covering the latest market trends and news in the PropTech world. Technology in real estate is taking the industry by storm and we’re excited in contributing and sharing its recent developments.1. Welsh PropTech Startup Properr Gets €850,000 to Launch Its Home Purchasing Platform
Tech City News reports a large investment for Properr’s platform named ‘Track My Move’ that brings together customers, real estate agents and solicitors to provide easy communication and greater transparency.
Properr claims that the customers are always in control and the purchasing time is significantly reduced compared to more traditional commercial real-estate platforms.2. PropTech Company Allthings Receives CHF 2.5m (€2.3m) in VC, Private Funding
Creathor Venture, a German/Swiss VC firm, and private investors invested CHF 2.5m (€2.3m) in Allthings, a German Proptech firm. Allthings is a one-stop shop communication and service application used by developers, property owners, property and asset manager in integrating technological services into commercial real estate. Creathor, with 30 years of successful experience, states that CRE is moving towards the “digitalization of property”.3. British Home Sold Over Facebook
An East London Property was recently sold through Facebook as viewers took a digital tour of the home via Facebook live stream and then made offers using Facebook Messenger.
More and more properties find its new owners throughout social media sites, showing a direction of how the future of real-estate transactions may look like.4. Berlin Is Europe’s Best Place to Buy Real Estate
Berlin has a thriving global economy that is ideal for homeowners and startup businesses due to its very affordable real-estate market.
Compared to other major world cities, Berlin has much lower renting costs for office and living space at just $28,400 (€25,200) per employee compared to $111,900 (€99,400) in New York and $88,800 (€78,900) in London.
Berlin is especially appealing for real-estate buyers as it has the lowest property ownership rate in Germany at 14%.
The city attracts more and more large businesses every year to settle in, including the recent announced Google Campus in Kreuzberg.5. Hybrid Retail Center in Germany Is Acquired at a $30m (€26.7m) Value
Greenman Investments and Quilvest Real Estate partnered up to buy the RheinBerg Passage hybrid shopping center near Cologne.
The intention is to redevelop the property into a more sustainable and organic structure in order to meet a growing consumer trend for a gastronomical retail experience. Hybrid shopping centres are smaller than usual shopping centres and located typically in prime inner-city locations.6. PropTech Has Exhibited Healthy Funding Amounts in the Last Year
Research by Venture Scanner – a startup research firm that reports and analyzes the real estate technology market – displays that 44% of 2016 real estate technology VC funding went into Series A and Series B events.
This shows that startups in real estate technology have been gaining rapid success and serious investment deals across 62 countries.7. Mix Properties and Digitalized Transaction Processes Are Taking Over Real Estate
Obstacles that arise from contradictions with the old guard of real estate present “unbelievable opportunities” for growth and innovation, according to Mru Patel, former Real Estate investor and now contributor to LinkedIn. But while building and development currently dominate the industry’s value, the future of real estate is seemingly becoming more defined by simplified transaction and management processes. Increasingly, digital agreements and automation of administrative sides of deals and leasing are replacing slow-paced paperwork and legal processes.
Virtual and augmented reality are significantly changing the “open house” process of buying property, especially for potential homeowners (check out companies like Matterport, roOomy, Virtual Xperience).
The rise of e-commerce and flexible workers has influenced brick and mortar and office buildings to convert into Mixed Use properties, capitalizing on the needs and wants of younger people for experiences and flexibility.
These are just a few examples of current trends in PropTech, make sure to stay tuned for more reports coming out in the next months.Upcoming Events
The New World of Real Estate
In a third year in row and as part of Tech Open Air’s Satellite Program, Setting hosts a discussion on the latest trends in real estate and technology. Register to get your ticket.
Make sure to check out #PropTech 2017 on September 14th in Berlin (venue TBD). It is one of Europe’s biggest event focused on innovation in RE and property management. Visit Propertytech.co to sign-up and receive more information.
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