June 21, 2023
Mr Rakesh Reddy, Director , Featured Article on Housing.com
Through cutting-edge technologies like Artificial Intelligence (AI), Virtual Reality (VR), and Blockchain, prop-tech solutions have dramatically changed the real estate sector in recent years and revolutionised how properties are designed, built, researched, purchased, and sold.
Proptech’s emergence in real estate has streamlined intricate, large-scale procedures, improved transparency, improved transaction administration, and increased data accessibility. This has paved the path for expansion by ushering in a new era of professionalism and streamlined procedures.
Proptech has significantly impacted many facets of the industry, including procurement, administration, construction, and customer interactions. Over 50% of purchasers complete their purchases digitally, demonstrating the increased customer acceptance of technology. A startling 95% of home buyers start their property search online.
Proptech is generally classified into two types; residential and commercial. A wide range of digital items is included in residential proptech, simplifying home-buying and rental processes, including platforms for AI-powered real estate searches, tools for sales and financing, software for mortgage lenders, and IoT-powered solutions for property maintenance. Speaking further on the nuances of this advanced technology, our Director, Mr Rakesh Reddy, shared his thoughts in an exclusive published by Housing.com.
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