Asia Pacific has become the world’s largest testing ground for real estate technology with nearly 180 proptech start-ups based in the region. These companies have raised an estimated USD4.8 billion in funding since 2013 and by 2020, funding in the region’s proptech sector will have reached USD4.5 billion a year, according to research from JLL.
Disruptive technologies continue to be in the minds of real estate and construction stakeholders as they need to follow and capture these paradigm shifts. With that in mind, here are a few of the proptech trends they will be on the lookout for next year.
Cryptocurrencies
Bitcoin continues to skyrocket and the performance of these cyber currencies is something developers are taking note of. Property buyers like these because they do away with lawyers, notary requirements, and other middlemen. Another positive about cryptocurrencies is that they are not bound by country-specific interest rates and transaction charges.
“Cryptocurrencies are obviously one of the hottest spaces in real estate right now. We’re watching it very closely,” says Julian Kwan, Founder of InvestaCrowd.
Internet of Things (IoT)
Developers in Asia have begun furnishing properties with smart home appliances and devices, especially those that allow access control. These are popular with users who are tech savvy and like to control things using smartphones or other devices. While this trend is nothing new, it will continue to grow in 2018.
Augmented and virtual reality
Augmented and virtual reality shows the total extent with which technology can execute and broker transactions in global real estate investment. An ever-growing number of VR headsets empower property seekers to be placed in the properties of their dreams. This is especially helpful for those projects which may not exist.
“Imagine a buyer in Hong Kong looking at a London property. Here is what I think is an amazing opportunity for augmented reality to mitigate the risk of that review process and potential purchase online,” says Shailesh Rao, JLL Board Director.
This story appeared on property-report.com
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