Backing the emerging PropTech sector
The global PropTech sector is surging, with Australia expected to play a key role in this burgeoning sector.
Asia Pacific startups have received 60 per cent of over US$7.8 billion invested in PropTech startups worldwide since 2013, and this will continue to grow.
PropTech refers the convergence of real estate (property) and technology, with startups not only driving the expansion of the sector but acting as a central contributor to new innovation.
They’re also attracting increased funding via startup incubators, VC and angel investors, as well as targeted institutional money.
However large established property businesses backed by strong balance sheets and cash reserves are also seeking to capitalise on the marriage of property and technology, investing billions to ensure relevance and keep ahead of the competitive curve.
Although not a new concept, the shift from PropTech 1.0 and 2.0 to PropTech 3.0 is a huge step change. Property listing portals and comparison sites have expanded rapidly under the PropTech ecosystem, however a new generation of PropTech businesses are emerging drawing on latest tech and innovation including augmented reality, blockchain, 3D printing, geospatial, payment systems and AI.
The future certainly looks bright for Australian PropTech businesses to not only evolve domestically but also explode on international stage.
PropTech Pulse is a new dedicated platform to support the growth of Australia’s PropTech sector as it embarks on a period of rapid expansion. PropTech pulse will share daily updates, news, information and market intelligence on the PropTech sector – including Australia’s first dedicated PropTech podcast.
Contributions, article and blog submissions are welcome. Please email [email protected].
The team behind PropTech Pulse
Thom Richards and Nick Bouris are deep-diving into the innovations changing Australia’s most loved and largest asset class – property – through PropTech Pulse.
Passionate entrepreneurs, and the drivers behind one of Australia’s most exciting PropTech startups Managed, Thom and Nick live and breathe PropTech. They’re passionate about the growth of the sector and seek to uncover and promote PropTech businesses that are shaping Australia’s property sector.
Join Thom and Nick on the PropTech Pulse podcast as they chat with the innovators, disruptors, game changers, big thinkers and leaders of Australia’s rapidly growing PropTech sector.
Thom and Nick are also on the lookout for podcast guests with a story to tell. Get in touch on [email protected].