The Real Estate industry recognizes the potential opportunities and challenges PropTech poses but real progress has been slow.
KPMG’s second annual Global PropTech Survey monitors the pace of change in the industry and helps organisations to benchmark progress against their peers, as real estate professionals are upping their technological game in order to adapt to the changing environment.
Juliana Mateeva, KPMG in Bulgaria Partner and Real Estate Lead, comments on the results: “The survey clearly shows that organisations in the industry need to develop a holistic strategic vision informed by a better understanding of their customers. At the same time, they should consider carefully the direct and indirect potential impacts of emerging technologies to be able to react quickly as they disrupt the market.”
The survey at a glance
Technology has risen up the real estate industry’s agenda in recent years, as property organisations seek to understand what the digital age means for them. KPMG’s 2017 Global PropTech survey revealed that whilst the Real Estate sector is aware of the potential changes technology will bring to the industry, very few have taken steps to prepare their businesses for the challenges and opportunities that lie ahead. 76 percent of respondents didn’t have an enterprise-wide digital strategy, demonstrating a clear gap between acceptance and action.
It is evident from the lastest 2018 survey results that the real estate industry has made a start on the road to realising the opportunities that technology and innovation can bring. But there is still some way to go.
To see what steps Real Estate organisations can take to successfully adapt to the digital ecosystem, check out KPMG’s report: The road to opportunity – An annual review of the real estate industry’s journey into the digital age.
About the survey
KPMG’s second Global PropTech Survey, conducted in 2018, involved 270 real estate decision makers from 30 countries across three global regions: EMA (60%), Americas (12%) and Asia Pacific (ASPAC) (28%).
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