“Digitizing a traditional industry where almost all processes used to be manual is surely not easy, but it has become vital.
We see clear signs that commercial real estate is at the beginning of a new era, with new technological advancements entering the market and growing investments in PropTech: 31 billion dollars were invested in real estate tech companies in 2019 and more than 10.4 billion dollars in 2020, according to CREtech.
Furthermore, a January report released by MarketsandMarkets estimated that the 3D digital models market across all property types will grow to almost 36 billion dollars by 2025.
One thing that will change for good is definitely the way office spaces are being showcased, interacted with and leased.
Potential tenants no longer have either time or desire to travel and visit 10 buildings, interacting with various representatives, going through long discussions, emails and unstandardized offers. It is now time to move everything online and facilitate pre-leasing agreements and remote visualization within one-stop shops.“