The number of real estate startups in Spain has increased almost 30%

December 11, 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.

In the last 12 months that has gone from the 259 companies in November 2018 to the current 334.

The technological and digital transformation of the real estate sector has a direct effect on the organizations and professionals that form it. In this context, the wave of proptech startups, which began in Spain 4 years ago, has grown exponentially so far. In the last 12 months that growth has been pronounced in a remarkable way when going from the 259 companies in November 2018 to the current 334, an inter-annual increase of 29%, according to Finnovating data.

The startups offer the real estate sector the flexibility of young companies, technologies and specific knowledge, while companies in the sector have the strength, resources, customers, partners and consolidated knowledge of the sector. The new ecosystem that has formed from the sum of all the players in the game is necessary to meet the needs of digital consumers in the era of digital transformation.

The market is currently experiencing a stabilization phase in which it is absorbing and implementing all the solutions at its disposal. In fact, in the last six months, the number of companies has only increased by 3.7% (from 322 to 334).

Real estate agencies use more than 90 technology solutions from the startup market to improve their customers' experience, according to Intech Engineering Proptech and the API collective. Of these solutions, the ones that are most successful among professionals are the marketplaces, where real estate appears in the new ways that the final consumer requires, as an idealist; big data solutions, which offer assessments with layers of data that were previously very difficult to achieve; and client and property management software and virtual reality tools, which allow products to be displayed more realistically than with a simple photo.

Although these solutions are the most used, they are also gaining special importance for professionals the search tools for financing their customers, which also provide information on the ability to pay the potential buyer, thus avoiding past mistakes.

Proptech has agitated the real estate sector to such an extent that it has become an economic jewel when it comes to developing startups and making large investments. In fact, 63% of investors in the real estate sector prioritize proptech. These investments have accelerated in the last 3 years and this trend will continue in the short and medium term. Thus, according to data from Savills Aguirre Newman, this industry already generates around 5,500 jobs, a factor that today places it in the spotlight of the real estate sector.

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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