The linkages of technologies across disciplines has seen an exponential growth of technological advancement over the past decade which has affected most industries. While the real estate industry has generally been slower to react to this trend, globally there has been an increasing rate of adoption of technology within real estate and, as a result, the number of real estate-related technology companies are growing at a rapid rate. This has led to the emergence of a new sector within real estate, commonly known as Proptech. Put simply, Proptech refers to technology that aids or improves the way we do property.
Proptech is redefining how the real estate industry operates and interacts, evolving traditional practices and services using key technological advancements, many of which have been successfully adopted in other industries.
We identified 42 active players in the proptech sector in this initial research and categorised them accordingly.
These categories were largely guided by the three key tech trends discussed previously and the type of activity we found in the South African proptech sector.