Proptech truly changes your life (2/2)
A little reminder about proptech. For those who have already forgotten or those who missed our last article — It’s terribly bad but it’s OK because you can still read it here and you can still read the definition of it just below:
Proptech — for property technology– revolutionises the real estate industry by focusing on its digitalisation and automation. Proptech is driven by the emergence of new digital- and technology-focused start-ups offering the best solutions for the real estate industry. It uses indeed innovative technologies already successfully implemented in finance and economy today.
Its purpose is to reduce intermediaries as much as possible by using technology to simplify and modernise this dusty industry!
Services in Proptech
1/ Market
A market with strong competition
In the French market, many startups are already present, and it is very likely that not all of them will be able to survive. Only the ones positioned in niche markets, will be able to get through. In addition, almost one new startup emerges per week, so there are many new entrants.
Indeed, in the rest of Europe and particularly in the UK, some companies are already establishing themselves as leaders (Nextdoor, Wework) and are becoming references in this market.
Potential entrants
External factors
- User accustomed to disintermediation (uberisation)
- A new relationship to the property (owner became a consumer)
- Banalization of community living (co-working, co-living)
Actors
Main French startups:
Perspectives: These startups manage to offer relatively different products and thus create a real distinction among themselves. In addition, co-working and co-living are booming. Moreover, this sector will grow with remote work as many people will try to find a place to work that is different from their own home (co-working space or a second home to rent).
Nevertheless, big players such as Wework could dominate the market. Moreover, even if this is unlikely, this trend could be just a fad.
Commercialization service: Use of virtual reality in promotion, commercialization
Mains actors:
Main French startups :
Perspectives : The marketing platforms have a real added value however they are very numerous and they differ few from each other.
Interesting startups:
- Colodge (Innovative French startup that develops real estate from shared flats by intervening in all stages from construction to communication.)
- BuroStation (2015, France) platform of co-working with similar professionals
The property as a service market has far fewer barriers to entry than the construction market and there are therefore many competitors. Still, property as a service is an innovative market that is growing rapidly. Start-ups offering strong and distinctive added value have significant growth potential.
Conclusion
Proptech is therefore an industry in full mutation allowing the emergence of numerous innovations. The construction market is being revolutionized by new technologies. While the property as a service market is experiencing many innovations to refocus property on the needs of customers. These sectors are therefore predisposed to the emergence of startups which will have the capacity to become the future big players if they manage to compete with the large groups already present and installed for many years in real estate. In addition, proptech is also transforming real estate financing by facilitating access to credit.
With Love,
The Daphni Team❤️
A HUGE thanks to Olivia Gangneux & Alma Rathle for their work on this report!
Sources
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