Last edited 22 Dec 2017

Proptech

The term ‘Proptech’ 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.

Although definitions vary, proptech is generally used to refer to the buying, renting, selling, design, construction and management of residential and commercial property. Start-up technology companies are seeking to challenge theses sectors, in particular in relation to estate agents. The proliferation of the smartphone has drastically changed consumer behaviour, creating a culture of ‘always online’ users. Online services and apps have widened the scope of what users expect to be able to access and action, and when, and how much they are prepared to pay.

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