“The makings of PropTech began in the mid-1980s, marked by the founding of companies that provided software for the commercial real estate industry. Autodesk and NCREIF in 1982, Yardi in 1984, and CoStar in 1987.
However, PropTech didn’t really spring to life in a big way until the mid-2000s, when cloud computing, broadband connectivity, and mobile devices enabled residential PropTech giants RightMove, Trulia, and Zillow to launch and show investors the value of disrupting real estate through technology.
Since the mid-2000s, more and more PropTech startups have been bringing new technologies to market that address a wide variety of inefficiencies, scoring more attention and capital from technology VCs and growth funds, which legitimizes the real estate technology movement.” – Nathan Dever, Founder, Ten-X
The University of Oxford research distinguishes three PropTech sub-sectors (verticals), and three drivers (horizontals).
Real Estate FinTech – Technology-based platforms that facilitate the trading of real estate asset ownership. The assets can be buildings, shares or funds, debt or equity; ownership can be freehold or leasehold. The platforms may simply provide information for prospective buyers and sellers, or they may more directly facilitate or effect transactions of asset ownership...