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May 22, 2023

Stay Ahead of the Real Estate Game with PropTech Trends 2023

Real-estate gets a tech upgrade in 2023

Upon hearing “property technology trends”, you are not so far off if you think of the talking teapot and candlestick from Disney’s Beauty and the Beast. Except their voices and characters are operated by artificial intelligence. The real estate industry has long been known as a slow-moving giant, but with the advent of proptech, the industry is getting a much-needed tech upgrade. Join us as we understand the top proptech technology trends in 2023.

An overview

Proptech, or property technology, refers to the series of technological infrastructures used to automate the real estate industry. Proptech is a relatively new industry that has been gaining momentum in recent years. The industry is expected to reach $20 billion by 2023, with a compound annual growth rate of 25.7%. This growth is driven by the need for new and innovative solutions to the problems facing the real estate industry. Proptech is helping companies in the real estate sector to manage their properties more efficiently, develop new business models, and offer better services to tenants and investors.

One of the reasons why proptech is so important for the real estate industry is that it helps to bridge the gap between the physical and digital worlds. For example, these days, who doesn’t consult the internet to arrange viewings? Proptech platforms allow real estate companies to offer virtual tours of properties, manage their properties online, and even use drones to survey their properties. This is helping to make the real estate industry more accessible, transparent, and efficient.

Infographic > Proptech trends in 2023


The dynamic market of property technology is expected to reach a valuation of $86.5 billion around the year 2032: just nine years from now. Glossing over key trends, automation through cloud computing, augmented reality for immersive home experiences, IoT for smart homes, big data for targeted advertising, fractional investing enabled by blockchain, and 3D printing architectural prototypes take the cake.

As the industry continues to grow, we can expect to see even more innovative solutions that will completely alter the way we buy and sell properties. We must recognize the source of technological innovation and proptech trends.

Kriti Swarup
Kriti Swarup
Content Writer at TechNews180
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