PropTech has moved right into the mainstream for consumers and real estate firms alike. Softbank continued to deploy significant capital into PropTech – from co-working, to residential, to construction and hospitality. Interestingly, corporate real estate has also been investing in their customers – a growing trend, as clients appreciate the value their suppliers can bring to the industry. In corporate real estate, CoStar’s strategic acquisition of Realla shows that the incumbent property technology players are determined to stay on top of the latest wave of PropTech – and remain relevant in a fiercely-fought marketplace. 2018 saw innovation within real estate businesses move from a ‘side of the desk activity’ to centre stage, with these roles now reporting into senior leadership and being embedded within the whole organisation. There were no chief innovation officers 18 months ago, yet they are now increasingly common within dynamic organisations. As the industry continues to see innovation as central to corporate strategy, digital transformation pick up pace – demonstrated by our 2018 global PropTech survey.
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