Tech Comes to Commercial Real Estate

We’ve written before about how proptech — aka real estate-related technology —  is poised to become the next hot, tech-suffixed buzzword. Much of the early days of proptech has been focused on residential real estate, such as with various “smart home” systems or digital platforms that streamline payments between renters and property owners.

Commercial real estate, too, is now slowly but surely adopting tech innovations into its industry. Some examples include builders using drones to inspect properties and utilizing advanced analytics tools for improving land development.  

According to a panel of VCs polled by Forbes, commercial real estate tech, as well as construction tech (or “contech” — there’s another buzzword for ya!) will be significant areas of investment in 2020 and beyond. The consensus of the VCs polled is that “more and more” money will pour into the proptech space overall, and that we will see “the emergence of clear category winners and consolidation in the space as the ecosystem matures.”