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Property Technology is the new buzzword in the industry. A massive shift of capital goes into PropTech, which means powering the digital transformation of the real estate industry. As investment in PropTech globally reached 20 billion U.S. dollars during last year, that's a sharp increase of 38 percent year on year.
PropTech is generally divided into three parts: smart real estate, shared economy and real estate FinTech. Insiders expected it to fundamentally reshape the way properties are built, occupied, managed, transferred and recorded.
Anthony Couse, CEO of JLL's Asia Pacific regions, introduced that during 2013 and 2017, there were 7.8 billion U.S. dollars invested in PropTech globally. Asia Pacific took 60 percent of that, which roughly equaled 4.8 billion dollars of investment, and China accounts for 60 percent of the region.
With the government's strong support and huge market potential, China's PropTech development already outpaced its counterparts and is set to be globally leading. Couse said that the strong momentum would continue to be sustained, and the lion's share would flow into China.
He specifically mentioned that China is driving RD development as a whole strategy, which includes various fundamentals like blockchain and artificial intelligence. As a large population of Chinese is gradually becoming adopters of technology, the scale of the potential development is massive. At the end of the day, it's a volume game, so China's market is set to embrace huge growth both for residential and commercial sectors, Couse said.
Apart from assisting property developers, PropTech also provides buyers with better products and nicer purchasing experiences. Julien Zhang, Managing Director of North China of Beijing of JLL, said that PropTech could both help realtors to transact in the most efficient manner, and also facilitate buyers to see through the product and target the product that's suitable for them.
Li Hao, technology director of innovation center of China Academy of Urban Planning and Design, said that a major trend of urban planning currently is the application of big data in property development, like providing more diversified information for site selection for the developer, based on consumer behaviors and logistics. The building of an intelligent park is a good example– it uses technologies like intelligent sensors to adjust the color of the lighting and send alert sounds when passengers walk by, which would bring better interactions between users and the environment.
A consensus that experts reached is that as the increasing amount of capital is optimistic about PropTech start-ups, more investment would flow into this segment in the near future.
(CGTN)
