Proptech firms are consolidated in the Spanish market

September 22, 2019
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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The main concerns of these start ups are collaboration with corporations, international expansion, fundraising and regulation.

Proptech firms are consolidated in the Spanish market. The number of technology companies in the real estate sector has grown by 37% in the last year, to add 330 companies in Spain. The main concerns of these start-ups are collaboration with corporations, international expansion, fundraising and regulation, according to data advanced by the PropTech 2020 Observatory within the framework of the third edition of the Proptech Unconference.

The collaborations between these companies will be predictably consolidated in 2020, since 87% are B2B start-ups, according to data from the PropTech 2020 Observatory prepared by Finnovating. With regard to territorial expansion, "it is necessary to be accompanied to other markets to have access to local authorities and corporations to collaborate with," said Rodrigo García de la Cruz, CEO of Finnovating.

In the last twelve months, start-ups have captured between 1% and 5% of the total budget of each corporation, with investment rounds of between five million and twelve million euros, according to the Digital Transformation and Innovation Barometer in the Real Estate Sector prepared by the consultant.

As for the technologies with more prominence in the sector are the rise of coliving, real estate crowdfunding, big data analysis and home automation, among others. In the real estate sector, the commitment to ConTech predominates, technologies applied to construction capable of reducing 60% of construction deadlines and modernizing construction management.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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