PROPTECH Definition & Meaning

proptech

[ prop-tek ]

Phonetic (Standard)IPA

noun

digital technology developed for use in the real estate industry, including property management, construction, and finance and investment software (often used attributively):
proptech startups;
the proptech sector;
sellers utilizing proptech to ascertain their market.
a company that develops technology for the real estate industry or that integrates such technology into its products or services:
Investment in proptechs has slowed.

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�y��vlog History and Origins

Origin of proptech¹

First recorded in 2015–20; prop(erty) ( def ) + tech(nology) ( def )

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Example Sentences

Examples have not been reviewed.

Nicholas Mak, chief research officer at proptech company MOGUL.sg, said there were limitations to the measures if just 10% of purchases were affected.

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This data collection is part of the larger move toward “proptech,” an approach to real estate that allows companies to track how many people are in different parts of a building, which can help save money on heating, cooling and lighting in unused areas.

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Elistratov said his "optimal model, scenario" envisaged changing the perception of his business from a traditional residential property developer to a property technology, or proptech company.

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As awareness of climate-related hazards grows, the companies crunching those hazards into easily understood projections are only going to get more popular, said Zach Aarons, co-founder of MetaProp, a PropTech venture capital firm.

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There are many technology companies, known collectively as “proptech,” short for real estate property technology, angling to help the real estate industry along this path.

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