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KPMG Global PropTech Survey 2019

KPMG Global PropTech Survey 2019

Taking a closer look at digital transformation and innovation in real estate.

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Craig Mennie

National Sector Leader, Real Estate & Private Equity and National Leader, Transaction Services

KPMG Australia

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Escalator going down with red and blue lights

The real estate industry continues to make progress in its digital transformation. Challenges remain however, with full-scale adoption of digital technology still some way off.

In our third annual Global PropTech Survey, we look at the progress made in real estate’s relationship with technology over the past year. We examine the differences between regions, industry subsectors and stages of the property cycle, and we explore the areas in which attitudes and practices may need to change. We also focus on the crucial questions of who has responsibility for advancing the digital agenda and whether firms have the talent in place to deliver the job.

Our 2019 survey provides both a snapshot of today and a blueprint for the future. Its findings offer considerable encouragement, but they also throw down challenges for companies that are not yet prioritising digital engagement. The greatest challenge for real estate firms is to undertake the cultural shift required to attract and retain the tech talent that will allow them to keep their digital transformation on track.

Key findings from the 2019 survey

  • 58 percent of real estate companies have a digital strategy in place, up from 52 percent in both 2018 and 2019.
  • 95 percent of real estate companies have someone responsible for leading digital transformation and innovation. In 62 percent of cases, this is a senior employee, however, in 65 percent of cases, it isn’t a digital or technology specialist.
  • 40 percent of digital leaders come from a real estate, construction or finance background.
  • Only 25 percent of respondents have a well-established data strategy that enables the capture and analysis of the right datasets.
  • 64 percent of real estate companies have some form of Property-as-a-Service across their portfolio with a further 13 percent considering it.

 

For more information, download our report: Is your digital future in the right hands? (PDF 2.3MB)

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