According to the forecast outlined in the study "Proptech Global Trends" by ESCP Business School, real estate startups in Spain will earn about $900 million during 2023.
Thanks to such results, the country will be among the top five world leaders in the progtech sector, second only to the United States, which is the undisputed leader in this field. For example, most of the patents for AI technologies in real estate are registered in the USA.
The top five are completed by the United Kingdom, India and South Korea — countries that also show growth, but significantly less than Spain.
The growth of real estate startups
In 2022, proptech companies raised about $290 million. Softbank and Capital One were the most successful companies. API research for the same year shows that at the beginning of 2023 there were 514 companies in this sector in the country.
The proptech sector has grown by about 300% in recent years. In the near future, the prospects for the industry are even more interesting. Current products and services in this market are evolving and becoming more complex due to the use of new computing power, AI technologies, virtual and augmented reality.
Among the real estate startups that have established themselves in Spain are the following:
- Housfy
- Badi
- Housers
- Belbex
- Fotocasa
- Idealista