The digital transformation will change all processes in every industry
First, the retail and media industries felt the impact of the digital transformation. Subsequently, the financial and insurance sectors underwent fundamental change, driven by innovative companies from the FinTech and InsurTech sectors. Today, it is the real estate industry that faces the challenges of innovative and digitized business models.
The fundamental transformation holds enormous optimization potentials for the real estate industry
Real estate is the largest asset class in the world. Accordingly, the real estate industry, previously considered a "sleeping giant", offers unprecedented potential for optimization. With innovation programs, real estate companies themselves must ensure that they are among the winners of the digital transformation and are not left behind by more innovative competitors.
PropTech1 seizes the opportunities which arise from the three forces that are creating a new real estate era
The real estate industry is faced by a combination of external factors generating the perfect storm: The effects of the climate crisis are more present than ever, social friction concerning rental prices is boiling up in many European metropolises, while the Corona virus has made it more apparent than ever how much the industry lacks behind in terms of digitalization. To add oil to the fire, consumer behavior is rapidly changing, demanding a better “user experience” when it comes to renting, buying, living, and working, which traditional players are incapable of providing. Innovation has now become no longer “nice to have”, but is essential for the industry’s survival.