Can property technology disrupt the real estate sector in emerging markets?

Los mercados emergenes aprochechan cada vez más los datos y el software para interruptir y optimizar sus mercados real estates and satisfy the needs of young people and companies.

Real estate technology (proptech) consists of a set of technologies that make commercial transactions around residential properties, offices and retailers more equitable and fluid.. Operating at the intersection of financial technology, construction technology (contech), smart real estate and collaborative economics, proptech covers investment platforms to unify retail investors with real estate assets to property administration platforms.

El mes pasado, the Nigerian technology startup Spleet announced that it had received 2.6 million dollars in initial funding, including from the venture capital firm based in Los Angeles MaC Venture Capital, to expand its business.

Ofrece una variatedo de opciones de pago a su principal base de clientes de inquilinos de ingresos medios altos en Lagos, incluido lo que se conoce como “alquile ahora, pague después”, a structure similar to the option “compre ahora, pague después” que está ampliando la inclusion financier en los mercados emergenes.

Spleet has processed more than 3.5 million dollars in rent since its creation in 2018, but it also has more than 68,000 applications without fulfillment, which suggests more space to scale. In July, he became the first emerging African company and joined the real estate technology accelerator MetaProp NYC at the University of Columbia.

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And mercado mundial

En el contexto de los vientos en contra macroeconomicos globales, el aumento de las tasas de interés de EE. UU. and the volatility of global real estate prices, proptech tiene la capacidad de brindar más previsibilidad a los mercados realestates y connectar a propietarios e inquilinos a través de transaciones fluidas.

Si bien Airbnb was one of the pioneers of the proptech industrynow there are more than 9,000 proptech companies in the world that continuously adapt their services and models to address the growing urban populations and the changing demands of the global real estate market.

Se prevé que el mercado americano de proptech crezca un 16% annual hasta alcanzar los 86,500 million de dolares para 2032, según la consultora Future Market Insights Global, que espera una tasa de crecimiento del 23.7% para China y del 26.5% para Japón.

In the first quarter of 2022, la financiación de capital de riesgo para proptech alcanzó un record de 4.400 million de dollars, un aumento del 41% con respecto al cuarto trimestre de 2021 y un aumento del 31% con respecto al primer trimestre de 2021, según un informe del banco de inversión Keefe, Bruyette & Bosque.

Sin embargoel aumento de las tasas de interés está mermando la confianza en las investments en proptech in many developed countries, because the prices of houses and apartments continue to fall from their highest levels after the pandemic in 2021 and the first six months of 2022.

The venture capital firm MetaProp, based in New York, produces mid-year indices that track confidence in investments and new global proptech companies. Its global index in 2021 was 9.3 out of 10, but fell to 5.8 in 2022while their index of emerging companies moderated from 8.3 to 4.2.

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Campo de juego abierto en los mercados emergentes

If this represents a kind of market correction for developed countries that have been implementing proptech for years, the situation in emerging markets is different, largely due to the increase in the number of people moving to cities and the consequent demand for housing.

In 2000, approximately 15% of the world’s population lived in cities, pero this figure increased to 50%, or 4,400 million people, in 2021 and it is expected to increase to 66%, or 7,700 million people, by 2050according to the forecasts of the International Financial Corporation (CFI).

Given that direct governmental housing subsidies are not available in the majority of emergent markets, IFC estimates that up to 1,600 million people will have difficulty finding housing by 2025.

Pakistán se identifica como un espacio próspero para proptech dada su gran población joven, con una edad average de 23 años, que busca mudarse a ciudades superpobladas, lo que hace que la demanda de viviendas supere la oferta.

MyGhar, con sede en Karachi, por ejemplo, ofrece habitaciones privadas y compartidades amuebladas con invoicación con todo incluido, while DAO Proptech está utilizando su plataforma para ofrecer diferentes opciones propiedades y recaudar capital sin interes para los desarrolladores.

Given the potential for growth in markets with similar demographic trends, the new cutting-edge technology companies in emerging markets have seen an important recent investment, sobre todo porque a relatively small amount of initial capital can be very useful for building platforms and using data.

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Risk a la baja y potencial innovator

Al mismo tiempo, sin embargo, los mercados realestates son complecos y normalme se rigen por sus propias idiosyncrasias legales, sin mencionar los diferentes valores culturales de los países. Además, las transaciones inmobiliarias a menudo son privadas y no se informan, lo que limits the potential of any analysis based on data and pushes the market to a more traditional broker model.

El mejor ejemplo de una startup proptech failed en mercados emergentes es Propzy de Vietnam. Having collected 25 million dollars in 2020 with the ambition to expand in Malaysia, the Philippines and Thailand, financial difficulties and the inability to collect more funds, they announced last month that they would close their operations.

Sin embargo la fusión de proptech con contech puede ayudar al segmento a capear los vientos en contra de la economia global.

This approach has been adopted by the fund of capital de riesgo with headquarters in Tel Aviv and New York, Built Up Ventures, whose flagship company My Tower administers more than 250 residential towers in Israel and has also entered the market in Poland.

Las innovations de My Tower en el lado de la tecnologia include el uso de robots autónomos, visión artificial avanzada, laser detectors, geoposicionamiento y sensores de movimiento inertial para reducir los costos operativos hasta en un 50%.

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Nuevo ingreso al mercado y expansión regional

Algunas empresas de proptech are following regional expansion strategies to take advantage of the legal, financial and social frameworks for the real estate sector.

The proptech companies are allowing the real estate boom in Colombia, where the offer is increasing rapidly, but the demand is still low La Haus y Habi, two Colombian companies, recently raised 158 million and 100 million dollarsrespectively.

La Haus has operated in four Mexican cities since 2019 and bought two Mexican real estate properties in January.

Las platforms proptech también están permitiendo a los inversores extranjeros ingresar a nuevos mercados. The cutting-edge technology company Naya Homes, which specializes in the administration of vacation rentals and short-term rentals in Mexico, raised 5 million dollars in funds two weeks ago.

Meanwhile, in the Middle East, Stella Stays is an emerging technology company based in Dubaiannounced last week that it will associate with the real estate company Tameer, with headquarters in El Cairo, to enter the Egyptian market.

Las compañías planean construir nuevas propiedades, comenzando con una comunidad de apartamentos listos para vivir en New Cairo. Stella Stays has operations in the United Arab Emirates, Saudi Arabia, Turkey, Bahrain and Canada.

This article was originally published in Oxford Business Group. Lea el original.

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