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KPMG Global PropTech Survey 2018
KPMG Global PropTech Survey 2018
The Real Estate industry recognizes the potential opportunities and challenges PropTech poses but real progress has been slow. Is it a case of ‘all talk and no action’?
Our second annual Global PropTech Survey monitors the pace of change in the industry and helps organisations to benchmark progress against their peers.
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 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.
Key findings from the report include:
- 97 percent think digital and technology innovation will impact their business.
- 60 percent think this impact will be very significant.
- 73 percent see digital and technology innovation as an opportunity. A further 25 percent see it as both an opportunity and threat.
- 93 percent believe “Traditional real estate organizations need to engage with PropTech companies in order to adapt to the changing global environment”.
- 66 percent do not have a clear enterprise-wide vision and strategy when it comes to digital and technology innovation.
For more information download our report: The road to opportunity – An annual review of the real estate industry’s journey into the digital age.
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