Wayne-based Valley Bank and Bank Leumi USA released the first annual Present & Future of Proptech (property-technology) report that explores industry trends and provides a positive outlook for this nascent tech category.
Deal making rebounded sharply in 2021, with a record $5.1 billion in capital invested in venture alone across a record 219 transactions.
“This has been an exciting period for Proptech with the complexities of the current economic recovery from the COVID-19 pandemic representing promising growth and considerable implications for real estate developers and investors,” said Stuart Cook, executive vice president, chief products officer, Valley Bank. “This report affirms that Proptech is positioned to benefit as the real estate industry further digitizes its processes and the future is very bright for companies with the foresight to invest and embrace this fast-evolving industry that is leading sustainability advancements,” he added.
Key highlights from the report:
Methodology behind the research
Estimates of market sizes and private investment activity within the Proptech space differ widely due to a variety of factors, such technology and types of real estate markets. This report views Proptech through a much more rigorous lens, using the Pitchbook platform to construct five distinct segments: asset utilization; finance and investments; construction, maintenance and renovation; property management; and transaction solutions. You can find more information under the introduction page in the report.
Read the full report here.
To access more business news, visit NJB News Now.
Related Articles: