The real estate industry globally has been slower to pick up use of technology than other sectors, but the advent of the COVID-19 pandemic in 2020 helped drive rapid, and what many see as permanent change, particularly in Asia.
A survey of property industry professionals around the region conducted by Mingtiandi found that proptech, or use of technology by real estate businesses, accelerated measurably in 2020 as developers and investors ramped up an already existing trend toward innovation.
The results of that survey, and additional research by Mingtiandi, are detailed in “Tech Adoption in Asian Real Estate: The pandemic drives innovation.”
- 60% of survey respondents said the COVID-19 pandemic has led them to increase or enhance tech system adoption.
- 81% of respondents said they would be investing in new systems.
- 35% of those polled said Asia is trailing the West in adopting real estate technology, compared with 56% who saw Asia trailing the West in similar poll by Mingtiandi in 2017.
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The Tech Adoption in Asian Real Estate report is sponsored by Yardi