PTI: November 14, 2017
Mumbai: With nearly 77 deals worth USD 928 million being reported in the property technology (proptech) space since 2013, India is ahead of other regions in terms of number of transactions, a recent survey said.
The proptech space, a blend of property and technology market, has made it big in India, as there has been a rise in that technology-based listings portals offer since 2007.
According to a report by JLL and Tech in Asia, across the Asia Pacific region, India is one of the most dynamic markets for proptech and has reported the most number of deals since 2013.
While India is ahead of other regions in terms of number of deals with 77 deals, Greater China (Mainland China and Hong Kong) stands second with 34 deals, it said.
However, Greater China's 34 deals have collectively attracted the largest amount of USD 3,025 during the period.
Against this, India stands second with deals amounting to USD 928 followed by South East Asia, North East Asia excluding China and Hong Kong and Australasia.
China alone commands over 60 per cent of the total deal value in the region.
The report further said start-ups in brokerage and leasing have received nearly 90 per cent of total Asia Pacific proptech funding since 2012.
However, in coming years, proptech will have more to offer in India with the regulation and rising transparency.
The report adds that the demand for other verticals and services such as residential home improvement, design, and maintenance will increase in India.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.