Spain made this multi-million investment in 2020 and 2021. Proptech refers to companies in the real estate sector that are using technology to make their operations more efficient. It has become an essential activity for the buying, selling and leasing of assets, construction operations, financing, design, maintenance, and asset management for commercial and residential construction.
Only America has invested more in proptech than Spain
As mentioned, Spain invested at least 824 million euros in these two years. Only America invested a higher amount (€5889 million) in proptech during this period. These investments are evidenced by a report presented by the Association of Estate Agents (API) in Catalonia and Deloitte Spain. According to the report, investment in this sector has seen “robust and double-digit growth” in recent years.
Spain is the third country in Europe with the most Protech technology companies
Although the UK is the country with the most professional tech companies across Europe – the UK has 709 of 4,100 proptech companies in Europe – the UK invests less (€769 million) than Spain in this sector. Spain has a total of 536 such companies in its country. Some examples of proptech companies in Spain are Fotocasa, Idealista, Housfy and Madiva.
According to API and Deloitte Spain, proptech will continue to grow in 2022, the number of digital in the sector will increase and the demand will increase even more. In Spain, these companies focus on the housing sector and the technologies that can be applied to it. In other European countries, there is a greater focus on the commercial construction sector (offices, etc.)
Expect further growth in proptech investments in Spain
Both parties anticipate further investment in proptech this year in Spain, primarily to improve energy consumption in homes and buildings. They also anticipate taking steps to develop the hypothetical perception of potential buyers and investors for real estate and homes.
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