Spanish proptechs are gaining attention from foreign investors

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 real estate sector began to rebuild itself climbing from the lowest point of the crisis. The current architecture reflects an economic segment in contrast, with a large number of small companies that mix the strength of the real estate sector with the benefits of digital transformation.

According to a report by Savills Aguirre Newman, the number of real estate startups that have come to light in the last six years reaches 174. However, according to the report, in the last two years "slowed the appearance of new start-ups".

Despite this, the financing rounds of Spanish companies in this segment amounted to 150 million dollars. In that sense, the consultant indicates that "every time becomes more important foreign capital". In fact, the largest round of funding reached the 40 million, from a venture capital of Silicon Valley.

In this context the companies of the sector rub their hands. "For us it's very good that it is so and the market believes that there is a big business in this segment," says Housfy CEO Albert Bosch to Business Insider.

From his point of view, the interest of foreign investors makes sense: "In Spain we are specialists in brick", reasons Bosch. In addition, it is "a market with many opportunities", which facilitates that the investment funds are "very interested".

In any case, digital real estate are still far from traditional, especially in the whole of Spain. Its market share is somewhat better in the "most important cities in Spain", explains Bosch.

Half the market in ten years

"In Barcelona or Madrid we should be at about 5%", anticipates Bosch. On the contrary, it believes that its growth will be much greater in the short-medium term.

"In about ten years, proptech may have half the real estate market," says Bosch. He is inclined to augur a good future for his sector because "it has been happening in other European countries".

With respect to traditional real estate, he believes that what will distinguish those that survive from which is not specialization. "There will be those who have a specialized and differentiated service," says Bosch. Among them are luxury real estate or those that manage country houses, with a more closed market.

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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