New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Despite COVID Headwinds, PropTech Leader Sees Bright Future
Although MetaProp’s Mid-Year 2020 Global PropTech Confidence Index demonstrates a 33% year-over-year decline in confidence, MetaProp co-founder Aaron Block is optimistic about proptech’s future.
“Over the past six months, the proptech ecosystem’s strong tailwinds suddenly turned into gale-force headwinds thanks to a combination of the COVID-19 health crisis and the stress it placed on the world’s supply chain, a broad real estate market downturn and a severe global economic slowdown,” he said.
“Some have coined it ’The Great Disruption’ with longer-term views around proppech adoption and acceleration stronger than ever,” Block continued. “We are still early in the real estate industry’s technology adoption evolution. I’m confident that these unusual and trying times will lead to even more new technologies, new investment successes and new business models for our industry.”
Along with declines in investor and startup confidence, another key takeaway is that the COVID-19 pandemic has accelerated adoption of proptech.
For comments, questions or concerns, please contact Paul Bubny
- ◦Economy
- ◦Financing
