PropTech Global Trends 2023
Annual Barometer
The PropTech sector raised $42 billion across 80 countries last year according to the annual barometer released by ESCP Business School and the Principality of Monaco.
The annual PropTech barometer is a collaborative effort between ESCP Business School and the Government of Monaco through the Extended Monaco for Businesses programme. The report is based on research conducted by Jaime Luque, a Professor of Real Estate at ESCP’s Madrid campus who currently holds the Monaco Real Estate Tech Innovation Chair.
PropTech (“property technology”), or technology serving real estate and the quality of life of its inhabitants, is an industry that continues to develop and “is so interwoven with our daily lives that we do not often think about it,” according to the report.
This year’s Barometer features updates on familiar aspects of the industry, such as ‘PropTech in the United States,’ while expanding our coverage into new conceptual and geographical terrains. While these landscapes have proven uncertain at times in the past year, the future of PropTech does indeed remain bright.
Jaime LuqueDirector, ESCP - Monaco Real Estate Tech Innovation programme
This year the barometer underscores the major trends in the sector, including the more than $42 billion investment in PropTech in the last year across 80 countries. It dives deeper into new and innovative technologies in the industry and expands the regional analyses to include new parts of Europe and Asia as well as the United States.
The report also features case studies covering:
- the potential impact of bank failures on the PropTech industry
- trends in Mortgage Tech
- construction technology
- the intersections of PropTech and ClimateTech
In the proptech sector, the predominant focus of investment has been on enhancing transaction and management processes. However, the critical need lies in advancing our approaches to construction and living spaces. The real estate industry faces pivotal economic, environmental, and social challenges that require innovative solutions. Monaco is strategically positioning itself as the epicenter for the future of real estate, aiming to spearhead the integration of cutting-edge designs and sustainable practices.
Frédéric GentaMember of Monaco Government
in charge of attractiveness and digital transition
The full report is available for download below or you may read the digital version.
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