Executive Summary

The 2023 PropTech Annual Barometer presents a detail-driven update on the international PropTech industry. Capitalizing on even more complete data, we give an overview of the recent historical developments of the PropTech industry, as well as an update on events that occurred during the 2022 calendar year and 2022-2023 fiscal year.

To elaborate our analysis, we rely on our four key categories, building, managing, living, and investing. However, we also add the industry verticals of Business to Business, Business to Consumers, Information Technology, and Financial Services to our analysis. We have found that the PropTech market did indeed consolidate in 2022 through 2023, as we were predicting toward the end of the past fiscal year. At the same time, the diversity of technologies offered as solutions to complex problems has continued to proliferate. In this year’s Barometer, we seek to call additional attention to new and innovative technologies at every turn. We additionally have expanded our regional analyses of Europe, including France, Spain, and Germany, as well as Asia in our breakdown of the PropTech industry by regions. We have kept our focus on competing industries from last year while refining our methods for such discussions and have included a special focus on predicted M&A deals and predicted IPOs in our Future Projections chapter. Finally, we completed four special case studies to illuminate important stories in the PropTech industry. These case studies were informed by direct conversations with industry leaders and included important insights about quickly changing trends in PropTech.

Our first case study this year focuses on the potential impact of bank failures on the PropTech industry, concluding that these impacts were not as dramatic as they were feared to be. Our second examines trends in Mortgage Tech, especially highlighting a major consolidation of the market. Our third emphasizes the often underreported-on sector of Construction Technology, concluding the future is driving towards intersections with Climate Tech. Thus, our fourth case study dives more deeply into the intersections of PropTech and ClimateTech while emphasizing the necessity of PropTech’s innovations for the future.

Readers of this year’s Barometer will appreciate our combination of consistency and rigor. This year’s Barometer features updates on familiar aspects of the industry, such as “PropTech in the United States,” while expanding our coverage into new conceptual and geographical terrains. While these landscapes have proven uncertain at times in the past year, the future of PropTech does indeed remain bright.

Jaime Luque

Director, ESCP – Monaco
Real Estate Tech Innovation program