PlaceTech: bringing technology to property

PlaceTech website discovers the most promising startups across the world  who are creating innovations for the Real Estate market

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Founded by architect Nicola Pisani, Coloureeis a web platform that acts as a tool for the real estate market by using geo-referred data and urban spatial analysis to provide a deeper understanding of locations and neighbourhoods. The platform rates built spaces in terms of lifestyle, commutes and business needs which allows users to make more informed decisions. Users can also generate detailed reports of projects that they’re interested in.

Colouree-real estate analytics web tool

The emerge of PropTech

The term of PropTech was created in 2014 In United Kingdom, derived from the merge of property and technology words.

The term PropTech in general refers to all those companies and technologies that allow the creation of digital solutions with a specific focus in the real estate sector.

Every year Real Estate market is constantly growing, new technologies and competitors with innovative ideas, applications are coming into this sector. However, the whole market is wide, according to function it could be divided into different groups:

  • Rental and online purchase of property;
  • Capital raising platforms for real estate investments (real estate crowdfunding);
  • Data analysis and Big Data solutions for the real estate market;
  • Property management software to support real estate management;
  • Application of new technologies such as virtual reality,which allows us to visit the property we are considering to buy or rent even at a distance.

Therefore, the main goal of PropTech is to revolutionize the world of Real Estate in order to fully adapt it to the digital world.

The classic real estate connection with the term of PropTech has a mirror reflection in the field of finances with the term of fintech.

“Proptech is the digital transformation of the real estate sector, which includes both technological and mental change in the real estate industry”  James Dearsley, co-founder of the consulting firm Proptech Consult (UK)

The pioneers of the sector

The pioneers of this emerging sector are already well-known names as AirBnB, Nest, WeWork and Zoopla. Each of these companies are working in a different PropTech sector (short-term rent, research or management of co-working places, commercial research for the properties to be sold or rented for the long-term). In general, we are talking about something what is already working successfully in the market and is accepted by society.

The role of Data Analytics in the real estate sector

The Big and Open Data analysis systems will allow to make predictions of the fundamental results and behaviors in order to succeed in the real estate market. Data analysis show how your programme could be enhance and and real estate property improved.

In addition, the using of large-scale geo-referenced information bases will make the decision-making phases and interaction with the clients easier. Prepared data will show the assessment of the attractiveness of the territory and the definition of pricing, in this way communication with companies or individual customers will become more effective and efficient.

The potential of the predictive models are based on the analysis of Big Data. For this reason the Big Data becomes an increasingly successful driver in the Real Estate sector and has the biggest opportunities for PropTech segment growth.

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