PropTech
Start-up technology companies are seeking to challenge the construction, real estate, and property management sectors, and the proliferation of mobile technology has drastically changed consumer behaviour, creating a culture of ‘always online’ users.
In conjunction with this move towards technology, the term PropTech was introduced in the 1990s during the tech bubble. It is derived from the words ‘property’ and ‘technology’ and is used to describe emerging start-up technology companies that are influencing and disrupting the property market.
PropTech is relatively well established in the real estate lexicon and is generally considered the umbrella concept for the terms associated with tech and other aspects of property management and construction. Initially, PropTech referred to buying, renting, selling, managing, designing and constructing residential and commercial properties. Now it is primarily associated with pre-construction activities (such as property sales and leasing issues) along with post-construction tasks (such as operations and maintenance).
PropTech is often used in conjunction with ConTech, a term that broadly describes the intersection of construction and technology. ConTech identifies advanced construction technology.
For more information, see ConTech.
Online services and apps have widened the scope of what users expect to be able to access, and these emerging technologies are often mentioned along with other well established concept such as:
- FinTech - a fairly universal term associated with finance and technology.
- RealTech - commonly used in the United States to cover real estate technology.
- CREtech - commercial real estate technology.
- Real EsTech - a European concept associated with entrepreneurial, start-up real estate technology.
[edit] Related articles on Designing Buildings Wiki
- Building data exchange.
- ConTech.
- Fintech.
- How technology is changing the real estate industry.
- How we should regulate the real estate industry.
- Industry Disruption: 10 ways real estate is changing.
- Information and communications technology in construction.
- Landlord.
- Real estate - going from villain to hero.
- Rent.
Featured articles and news
London Build Fire and Security Expo
20-21 Nov and now with new Ambassador Programme..
The Scottish Building Safety Levy
Eight weeks of consultation closing on 18 November.
The grey, the brown and the golden rules of housing
shifting policies from the wild west of housing development.
Future proofing homes that are fit for purpose
Specification challenges and the role of plastic.
Thousands of new homes unlocked for brownfield sites
£68 million to 54 councils for neglected land into new homes.
Roof terraces and higher-risk buildings
Context, review, interpretation, case and guidance..
Sustainable Futures. Redefining Retrofit for Net Zero Living
More speakers confirmed for BSRIA Briefing 2024.
Architecture in Britain and Ireland, 1530 - 1830
Steven Brindle’s book is required reading.
Employment Rights Bill; making work pay
‘Biggest uplift in employment rights law since the 1970s’
Battle for Mill Road Free Library
Years of failures by the county and city councils.
The accolades that demonstrate and recognise outstanding achievement.
What is the Conference of the Parties ?
The who, where, what and when before no 29.
CIOB signs up to Green Skills At COP campaign
In preparation for COP29 on 11 November in Azerbaijan.
2024 ECA Industry Awards evening
Full list of electrical contractors scooping top prizes.
Briefing on the implications of the final Grenfell inquiry report
What it means for Architectural Technology professionals.
CIOB Art of Building photo contest 2024
International showcase for the very best photography of the built environment.