OPINION
Opinion
WHEN IS THE BEST TIME TO INVEST IN TECHNOLOGY ?
Almost everyone in the property sector agrees that technology will , in one way or the other , affect the real estate space . However , resistance to change remains the biggest barrier to proptech adoption , outstripping cost , resources , time or confidence .
Photo by finance . now . com
By Bernie Devine , Regional Director Asia Pacific , Yardi Systems
As the world ’ s largest asset class , real estate was ripe for reinvention , well before Covid-19 upended the world . Property companies were beginning to invest in technology across the entire development lifecycle – from dirt to disposal – to unearth new value and create better experiences for customers .
Today , JLL estimates that nearly 8,000 companies are part of a growing and thriving proptech ecosystem . Meanwhile Metaprop , the world ’ s largest proptech venture capitalist , says 89 % of investors expect proptech adoption to accelerate in the postpandemic world .
As we emerge from the scathing effects of the pandemic , we ask this question : how do we pinpoint the areas of common ground in proptech to drive innovation and impact ?
But since 2020 , the investments have gained pace . Property companies poured billions into digital technology to maintain business continuity in an online environment , to enhance health and safety on sites and in buildings , and to forge new connections with customers .
Yardi and Mingtiandi first teamed up to track changing attitudes to proptech in 2017 . Since then , we ’ ve captured the accelerated adoption of technology to guide data-driven decision-making , transform business processes and enhance the experience for people who live , work and play in buildings .
In our studies in the field , we can see although there is a lot of development , there are still pockets of the real estate industry that remain stubbornly resistant to change . Some leaders
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