As we explained in our post on digital transformation in the real estate sector, the sector has significantly stepped up the use of technology in recent years.
While up to a few years ago the digitization of the sector was limited to having a website as a showcase and posting real estate listings online, today there are a plethora of innovations used in all areas of the sector, such as, for example, Big Data, the Internet of Things, Blockchain, virtual and augmented reality or the metaverse as a sales channel.
BUT WHERE IS REAL ESTATE DIGITALIZATION AT NOW?
The pandemic marked a turning point for real estate, with Spain becoming the second leading country in the world in terms of PropTech — or property technology — investment, behind only the US, generating 824 million euros between 2020 and 2021 according to data from Deloitte and the organization of Real Estate Agents (API) in Catalonia.
CONSOLIDATION OF DIGITALIZATION. A CHALLENGE FOR THE REAL ESTATE SECTOR
However, the level of digital maturity in the real estate sector continues to fall short according to a report by CBRE and IE Business School entitled “Digital maturity of the real estate sector”.
Even so, the data are positive since progression remained stable in 2022, with a score of 4.6 out of 10 and with a forecast of reaching 6.3 by 2025.
Evolution of the level of digital maturity
In addition, 59% of companies in the sector plan to ramp up their investment in technological and digital development in 2023, considering that digitization offers added benefits such as cost savings and improving the client experience.
This data therefore reveals that the consolidation of digitization remains a challenge for a historically analog sector, but that it is focusing on the use of new technologies to optimize processes and improve business productivity.
At Alting, which turned 45 this year, we continue to work and implement tools that facilitate and streamline both internal and external processes, with the aim of offering a better client experience and continuing to grow as a business.
