proptech

[ prop-tek ]

noun

1. digital technology developed for use in the real estate industry, including property management, construction, and finance and investment software (often used attributively):

   proptech startups;

   the proptech sector;

   sellers utilizing proptech to ascertain their market.

2. a company that develops technology for the real estate industry or that integrates such technology into its products or services:

   Investment in proptechs has slowed.

Word History and Origins

Origin of proptech¹

First recorded in 2015–20; prop(erty) ( def ) + tech(nology) ( def )

Example Sentences

Nicholas Mak, chief research officer at proptech company MOGUL.sg, said there were limitations to the measures if just 10% of purchases were affected.

From Reuters

This data collection is part of the larger move toward “proptech,” an approach to real estate that allows companies to track how many people are in different parts of a building, which can help save money on heating, cooling and lighting in unused areas.

From Seattle Times

Elistratov said his "optimal model, scenario" envisaged changing the perception of his business from a traditional residential property developer to a property technology, or proptech company.

From Reuters

As awareness of climate-related hazards grows, the companies crunching those hazards into easily understood projections are only going to get more popular, said Zach Aarons, co-founder of MetaProp, a PropTech venture capital firm.

From Seattle Times

There are many technology companies, known collectively as “proptech,” short for real estate property technology, angling to help the real estate industry along this path.

From Washington Post