Key Trends in Proptech to Watch Out for in 2021

Key Trends in Proptech to Watch Out for in 2021

Real estate experts and key industry stakeholders are now making bets on proptech being a major enabler and future growth driver for the real estate sector in 2021 and beyond. Proptech can have a positive and long-term impact at all levels, whether local, national, or international.

Fremont  CA: Since the outbreak of the COVID-19 pandemic, real estate markets in various cities and towns have felt the 'pandemic burden,' and they are facing unprecedented levels of challenges and hardships. On the bright side, proptech has come to its rescue in terms of mitigating these issues.

Real estate experts and key industry stakeholders are now making bets on proptech being a major enabler and future growth driver for the real estate sector in 2021 and beyond. Proptech can have a positive and long-term impact at all levels, whether local, national, or international.

Here are emerging trends in the proptech domain:

Property Search and Transactions to Go Online

While online/digital property search and listing were popular prior to COVID, they have now emerged as a 'necessity' or 'must-do' activity in the absence of alternative options.

According to various industry reports, online property search volumes and queries increased significantly across key real estate markets in India during the previous fiscal year — especially when compared to pre-COVID — and this trend is expected to continue and grow throughout the current fiscal year as well.

Virtual Home Tours

Because COVID-induced mobility restrictions prevent in-person property visits, agents, real estate developers, and residential property owners worldwide are increasingly relying on virtual home tours to display their properties to prospective clients/customers and aspiring homebuyers.

The majority of these virtual home tours are typically facilitated by software or tech platforms that provide enhanced 3D experiences and 360-degree, in-depth property views via VR and other similar technologies. In the post-pandemic era, the real estate sector is expected to maintain a balance between physical property visits and virtual property visits, particularly when it comes to buying and selling ready homes/apartments.

Weekly Brief