PROPTECH REPORT ON THE CRETECH CONFERENCE
Smart buildings operating with artificial intelligence and knowing everything are still a long way off, based on this week's online Protector event about the present and future of digitalization in the real estate market. Zoltán Kalmár, founder of ProptechZoom, and Tibor Massányi, managing partner of DVM group, evaluated it in connection with a proptech conference in London, mainly with examples focused on office buildings.
However, the concept of proptech (Property Technology) can be found on the internet since 2014, and a few years ago Zoltán Kalmár already organized a conference with HWSW. However, the area still sounds unfamiliar to many people, which is probably also due to the fact that real estate market developers and operators are not yet flocking to digitization. Zoltán Kalmár, founder of ProptechZoom, and Tibor Massányi, managing partner of DVM group, evaluated the reasons for the lag and the opportunities that point to the distance in connection with a proptech conference in London, mainly with examples focused on office buildings.
The reasons for lagging behind digitalization in the real estate market can be traced back to several general problems and specifically Hungarian characteristics. The experts openly stated that the different interests of different participants in the field complicate the situation. In addition, we can talk about a "big mammoth" in every respect that likes proven methods and has difficulty accepting new things. Zoltán Kalmár added that the real estate market does not really like transparency, i.e. if the numbers become demonstrable and comparable. Furthermore, trust problems arise, which could possibly be countered by demonstrating efficiency.
Added to this is an important Hungarian peculiarity in the construction market, according to experts. Because large works are usually carried out by large construction companies, and these are served by competing micro-enterprises. On the other hand, it is difficult for companies with a few employees to renew their technology, because they also have less money. So proptech introductions and related education mainly depend on large companies, which are afraid of developments due to the lack of immediate profit. That is, large contractors see the field as a cost rather than an investment, and they value less the long-term investment aspects inherent in data collection and data use.
The areas of proptech can be divided into five major categories: finance and analysis, design and construction, market and transaction (this includes the well-known ingatlan.com), operation and maintenance, and the area of living and working. The greatest movement can be observed in the operation and maintenance category, as this is where the return on investment can be demonstrated for the first time, more than 35% of proptech companies are located in this segment.