Ritam Gandhi, director and founder at fintech firm Studio Graphene, gives an insight into how innovation and technology are transforming the property market but proptech has not yet reached anywhere near its full potential.
There’s no denying the transformative role technology is having on the UK property market. With more and more consumers relying on smart devices within their daily lives, the demand for seamless, responsive services and products is rising. This is particularly true when it comes to the buyers, sellers, renters, landlords and agents that make up the real estate sector.
The term proptech is now used to refer to the tech and digital innovations that are developed for, and implemented within, the property industry. These innovations are being driven by the country’s bustling collective of tech startups and scaling SMEs who are taking technologies that already exists and applying them across the various sub-sectors of the property market.