Proptech has arrived to Spain: learn about the digital transformation of the real estate sector

The real estate sector in Spain is living a golden age. Gone are those commercial strategies based on paper advertisements, phone and on-site management. Today, new technologies have transformed these old practices to ease users’ lives in an extraordinary way.

The Proptech term (which is an acronym of property and technology) refers to the application of new technologies into the real estate sector, and it takes under its umbrella all those companies that have developed innovative solutions applied to the real estate market.

Proptech companies: what kind of solutions do they offer?

As of today, there are almost 200 Proptech startups that have started their activity in the Spanish market. All have the real state business in common, however, not all of them work from the same perspective nor use the same technology. Anyway: they all complement each other to provide a complete user’s experience.

Real estate companies that have gone digital thanks to the tech revolution can be classified according to its typology and /or the kind of technology that they use; and also, according to their targeted audience.

In general, some of the Proptech services already marketed in Spain are the following:

Real estate buying, selling and letting.

Management of building communities.

Evaluation and valuation of spaces.

Real estate B2B and B2C investment.

Real Estate marketing.

Interior design and decoration.

The technologies used to carry out these services are also varied: from Big Data to Geolocation, including Artificial Intelligence, Virtual and Augmented Reality and more.

Colonial joins Proptech

The Proptech sector in Spain is successfully expanding. Proof of that is the organization of an event such as the Proptech Unconference, a conference to foster networking and to promote synergies among the sector’s companies and their managing staff.

The meeting took place in Madrid on 23 October 2018, and it was attended by Colonial, leading real estate agency in the marketing of sustainable and innovative offices. Colonial has recently closed a collaboration agreement with the multinational company Metaprop, ─worldwide leader in the investment and acceleration of Proptech startups─ that will allow the company to learn first-hand all the news about this trend all over the world to implement them in its office buildings in Spain.

Thus, Colonial makes progress in the digital transformation of its real estate services, which began a few years ago with the implementation of an advanced management software in its office buildings ─the Smart Building System─ and the installation of the smart Citibox mailboxes.

Furthermore, with the acquisition on October 2017 of a majority shareholding of the coworking firm Utopicus, Colonial leaps on the renovation of its core business by adapting to the new trends in the real estate sector.