The use of the term PropTech has increased significantly recently. But what new element of this space does PropTech represent, and what is “the Proptech Phenomenon” we keep hearing so much about? “Despite commercial real estate’s reputation as a technology latecomer, a new wave of innovative solutions is transforming the business. PropTech refers to the technology and tools to find, purchase, evaluate, finance, construct, lease and manage property,” explains our latest report StartUps and their Impact on Smart Buildings 2019. “The CRE technology landscape, as indicated by the number of companies in the sector, has grown tremendously over the last 5 years, with at least 500 new companies entering the space since 2001,” the report continues. Proptech is an umbrella term to categorize the innovative products, services, and new business models presented by the recent wave of startups in the real estate sector. It has always been too easy to label something a phenomenon but […]