R.E. property meets technology: cross-country comparison and general framework

Abstract

PurposeDue to the young age of proptech, little is known about the dynamics of its expansion. In particular, there is limited agreement about a definition of “proptech,” while different categorizations are popping up. A severe lack of information emerges for the proptech scenario in Italy. The goal of this paper is to systematize multiple proptech maps in the attempt to create a framework for comparison of country-specific trends and an overarching definition of proptech. The research examines the evolutionary stage of the Italian digital real estate sector and compares it to the international context.Design/methodology/approachAn in-depth analysis of 12 proptech maps at both national and international level was conducted based on online research. A list of Italian proptech companies was composed through multiple methods. A map was built for a cross-country comparison.FindingsEach country or organization tends to develop its own categorization. This creates a multifaceted context where comparison and analysis are challenging. The Italian proptech sector seems underdeveloped compared to neighboring countries. Big room for improving the proptech business in this country still exists.Practical implicationsThe results are valuable for proptech start-ups, business investors and well-established real estate actors to build on new entrepreneurial initiatives. The opportunity to advance proptech mapping and categorization emerges as a prospect for future research.Originality/valueThis research adds an overview of cross-country proptech categories and proposes the first analysis of Italian proptech. This will contribute to support entrepreneurial opportunities.