SINGAPORE, 8 November 2017 – Property technology – or proptech – start-ups in Asia Pacific are outpacing their counterparts in Europe and the United States with 179 of them raising around US$4.8 billion in funding since 2013. This represents over 60 percent of proptech investment worldwide, according to new research from JLL.
The real estate consultant today released the findings of its report, Clicks and Mortar: The Growing Influence of Proptech, which analyses the state of proptech and its growth potential in 13 markets across Asia Pacific. Commissioned by JLL and authored by start-up community Tech In Asia, the report also reveals the forecast for proptech growth in the region, predicting that funding will reach US$4.5 billion a year by 2020.
A blend of the words property and technology, proptech refers to the application of technology to solve challenges in the real estate sector.
“Technology and real estate are converging in exciting ways. We’re already seeing the potential of data analytics, artificial intelligence, the Internet of Things, virtual reality and blockchain, to transform how we invest in and occupy real estate in the future,” says Anthony Couse, CEO, JLL Asia Pacific.
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