Supporting the region to step out from "comfort zone", summary on MIPIM
MIPIM is not just a simple exhibition and conference, but an important meeting place where professionals can get to know each other and build the relationships that can be the keys to their business success in the future, which is why it is so important that technology companies also play a role in the exhibition, at the lectures. Last week we were at this show with ProptechZoom and 4 other proptech companies: Beyond Visual, Orthograph, Roominnovation and Sigtree exhibited at one of the biggest real estate events in the world.
MIPIM is not only about the exhibition, it's about exchanging ideas, getting to know each other, I had a lot of conversations with experts, and there were 5 topics that almost always came up when we talked about technology and innovation. In the past few years, digital transformation has made a significant breakthrough in the real estate sector:
1. ESG can clearly be the engine of proptech in the future: it is increasingly important to collect, record and standardize reporting indicators to enable taxation and fines in the long term.
2. The real estate market is constantly changing, which is simultaneously affected by the post-covid situation, the development of changing habits, and the advancement of technology
- The home office and continuous return to the office also turned the real estate market upside down. As a result, occupancy is still very low in many office buildings
- Since the employees of most companies still only returned for 2-3 days, the work area has become a part of the homes, this can sometimes result in the breakthrough of new functional furniture, and may even mean the strengthening of the coliving concept in the long term
- The advance of the logistics market is unbroken, but there are overcommitments (e.g. Amazon) that may affect the market
3. A major trend in the digital real estate sector is the use of data collection, data analysis and artificial intelligence (AI) to improve decision-making. Real estate companies now use data to analyze property values, occupancy rates, and other metrics to make better investment decisions. AI-powered tools are also used to automate processes such as property inspection and maintenance, which can save time and money in the long run.
4. The use of Virtual and Augmented Reality (VR/AR) technologies to enhance the viewing experience of real estate is not new, but what is new is that it has become an essential marketing tool for almost all real estate developments. VR/AR offers a 360-degree view of real estate, which can help buyers and investors visualize the space.
5. Several unfortunate events took place last week: several banks that dealt with the finances of tech companies collapsed. Almost everyone is afraid of the financial vacuum created by the collapse of Silicon Valley banks, which could delay the capitalization of some promising startups for years.
This year, the ProptechZoom team presented and exhibited 4 proptech companies (Beyond Visual, Orthograph, Roominnovation and Sigtree) and each of us had a solution to the trends described above, which was an unexpected success. The key to the success of the stand was that the exhibiting companies cooperated with each other, this cooperation is a working concept that we will continue to apply at our exhibitions in the future, including at the Proptech Hungary conference to be held on May 18, to organize an event that both will result in useful and valuable contacts for the target group.
The conference will focus on change management, digital transformation and ESG (environmental, social and governmental) topics. Speakers come from all over Europe: from England, Belgium, the Netherlands, Norway, Germany, Romania, the Czech Republic, in order to provide the visitors with as wide a range of knowledge as possible. Through the presentations, we show how to manage changes more effectively, how to digitize business processes and how to share our experiences and information.
The Proptech Hungary conference is aimed at real estate professionals who want to keep up with the constantly changing market trends and are curious about new technologies and solutions.
Until the end of March, you can still buy tickets as part of an early bird discount at conference.proptechhungary.hu.