Future of work 27 Sep 2017 5 min read
Throughout September we've seen again strong developments in the PropTech sector, from more investments being allocated to startups digitalizing real-estate processes to Blockchain becoming more applicable for real-estate transactions.
1. Within the last month alone, tens of millions have gone into PropTech
Online real estate agent group Yopa and digital mortgage broker Habito are two of UK’s leading PropTech companies. Yopa reported a raised £27.6 million from estate agent group LSL and Daily Mail-owner DMGT. A day later, Habito announced a raised £18.5 million in fundraising led by European venture capital fund Atomico.
As more major brokerage companies and agent groups move towards PropTech startups, many other large businesses are likely to follow. After LSL invested in Yopa, real estate service provide Savills also began investing in the group. Investments into PropTech have only continued to grow throughout the year, showing its great potential.2. Oxford University business school launches ‘PropTech’ module in new course
Oxford University’s course titled ‘Fintech Programme’ recently decided to dedicate a whole module to ‘PropTech and real estate innovation.’ The Business School aims to equip students with the ability to identify opportunities for technology disruption in the financial services sector.
Oxford is determined to have a course focused on generating and sharing ideas, rather than looking at past case studies, as the industry is still developing.3. Berlin seen as offering highest office rent rise potential in Europe
According to the research group Scope, rents will rise in Berlin by 4.4% a year through 2021. Scope analyzed the top 20 European office markets by market size and liquidity, and of all the cities in the list, only Berlin and Madrid had an A-rating. The drivers behind Berlin’s top ranking are startups and freelancers raising the need for new office jobs, which coincides with very low vacancy rates.4. Blockchain has arrived for real estate
Blockchain has the world more connected than ever by making it better and easier for financial transactions. Propy, the global real estate marketplace and decentralized title registry recognized blockchain’s potential and began a PRO token sale. They have raised $15 million in ICO from 6,597 participants by focusing on decentralizing real estate sales and attracting foreign investors.
Propy has already landed key contracts, like Chinese powerhouse Leju Holdings Limited and the Ukraine government. The Propy Registry has also implemented smart contracts to track and execute real estate transactions. This only seems to be the start of blockchain in the real estate industry, as companies like REXMLS and UBITQUITY are also joining the movement.5. New startup aims to build the UK’s first PropTech bank
The startup Huuti is attempting to build the first PropTech bank in the UK through an app to help people save for a mortgage deposit. Founder Osei Downes came up with this idea through his own experience. As he was trying to become an online mortgage broker, he went to open a bank account the his credit wasn’t good enough.
Now Downes is focusing on mortgages to see how someone would be seen by a lender and push them into a position where they would be approved for a loan, mortgage or credit card. The new app is designed for a customer to plug in their property goal (date and price) and the app will evaluate where they stand financially. Lastly, the app will display the customer's goal on a timeline, so the customer knows exactly what they must do to get a bank’s approval. Huuti is here to help people buy a home sooner than expected.
6. Upcoming Events:
EXPO REAL 2017
Be sure to check the in Munich from October 4 through 6. Europe’s largest real estate and investment trade fair EXPO REAL conference is taking place next week. This year, there are many exciting new topics that have been creeping into the real estate world, including blockchain technology and digitalization. It is not an event to miss!
Digital Construction Week
London’s two-day Conference from October 18-19 aims to help businesses become more effective through the application of innovative processes and technologies. The event focuses on many key themes that are changing the way we work, including smart buildings, visualization, business transformation, geospatial and more.
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