PropTech Boom - has the revolution been called off?
f. l. t. r.: Dirk Dittrich, Allthings GmbH; Marcus Hübner, EBS Real Estate Management Institute; Tim Fischer, FRICS, MOMENI Real Estate Management GmbH; Vanessa Reps, Hinsch & Völckers GmbH & Co. KG; Dr. Thomas Beyerle, Catella Property Valuation GmbH
Photo: Peter Vogel, Hamburg, www.peter-vogel.de
Optimising procedures and processes, as well as developing business ideas with the aid of cutting-edge information and communication technology is presently the number one topic in the real estate sector. PropTech stands for “Property Technology”, the digitalisation of analogue workflows in the real estate business and using technical solutions to increase efficiency. But what’s really behind all this hype? “The revolution is off”, concludes the Süddeutsche Zeitung in an article dated 30 August 2016, after the first companies on the real estate start-up scene had retrenched. What are the problems in its practical implementation? Which products are actually sustainable? And how innovative is the real estate business?
About 50 real estate experts met on the premises of Freshfields Bruckhaus Deringer LLP to find answers to these and other questions. The relaxed get-together was not only an opportunity to talk shop, several presentations gave the guests food for thought. The general consensus was: We’re talking about a “light revolution”. Dr. Thomas Beyerle, Managing Director of Catella Property Valuation GmbH, said that digitalisation is steadily moving forward but it is doubtful whether the present “PropTech Hype” is really the driving force here. “A PropTech boom has indeed developed in Germany - however, more is being said about the chances digitalisation offers than about actual products”, according to the real estate analyst. In his closing speech, Marcus Hübner, Director Business Development at EBS REMI, was pleased that the event was held in this Hanseatic city: “The topic digitisation is more and more an integral part of our further education programmes in real estate. Starting this autumn, we will be offering our new contact study programme Real Estate Economics here in Hamburg”.
The EBS Real Estate Management Institute (REMI) was founded in 2006 and is part of the Department of Finance & Accounting (FACT) at the EBS University. The institute combines all EBS real estate-relevant activities in the four central areas of activity university education, research, scientific consulting and further education. It regularly publishes studies with a strong practical orientation to the real estate sector. At present, innovative strength and innovation activity in the real estate business is the focus of research projects at the institute. The “Innovation Barometer of the Real Estate Sector 2017” shows what’s on the German real estate companies’ minds and how transformation pressure has changed in comparison to 2016.
The event was sponsored by Allthings GmbH, Catella Property Valuation GmbH and Freshfields Bruckhaus Deringer LLP.