Distribution of PropTech Benefits to Stakeholders of Real Estate Market

Ali Murad Syed ()
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Ali Murad Syed: University of Bahrain

A chapter in Blockchain in Real Estate, 2024, pp 169-178 from Springer

Abstract: Abstract The real estate industry is known for the slow adoption of novel technologies but over the past few years, the real estate industry is experienced a digital transformation that influences its growth. The propTech includes several innovations like home matching tools, video drones, smart cities, data analytics tools, blockchain, smart contracts, artificial intelligence (AI), virtual reality (VR), Augmented reality (AR), and crowdfunding. All these innovations and transformations are a part of the terminology “PropTech”. Is the real estate industry ready for this transformation and what are the major benefits of this transformation? PropTech can affect the real estate market structure, the demand for the industry, and create awareness among the end users. At the same time, Proptech needs new regulations affecting the real estate market. Today’s real estate industry can benefit from the developments in Proptech in several ways. This not only offers a lucrative and profitable path for investors because these innovative tools also help landlords, buyers, and sellers to enhance property journeys. It only means that both users and companies can profit from Proptech. There are certain benefits to the acceptance of technology in the real estate sector, but the important question that arises here is whether these gains are distributed proportionally among all the stakeholders in the market or not. This chapter will focus on the perspective benefits of the adoption of the technology and the distribution of gains to various stakeholders.

Keywords: PropTech; Real Estate Industry; Technology (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/978-981-99-8533-3_9

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