In the first half of 2023, we are witnessing the consolidation of the protech sector in Spain. The industry of technological solutions for real estate was born in 2000 and has not stopped growing since then. Relying on the latest edition of the "Proptech Map" from the Association of Real Estate Agents of Catalonia (AIC), it can be argued that there are currently 553 proptech companies in the country.
"Proptech Map" is a tool designed to search and catalog technology companies in the sector, which will allow market professionals to easily monitor their development and gain access to the growing range of services that such organizations provide. Today, all protech companies' services are divided into three main areas: product-oriented, customer-oriented and business-oriented.
All the companies included in the "P-Map" were categorized according to what needs they can meet for the Spanish real estate business. The first edition of the "Proptech Map" was presented three years ago, in April 2020, and included a total of 151 companies.
Vicens Hernandez, President of AIC, is confident that the development of the protech sector cannot be stopped, the real estate market needs technological solutions, especially in the current economic situation. The ways of consumption and doing business have also changed in recent years — in record time. The market needs to increase the degree of transparency of activities, increase the speed of transactions, the introduction of blockchain technologies and much more.
Global leadership
Today, it can be argued that Spain is firmly entrenched in the international ranking of leaders in the development of the protech sector. According to the study "Proptech Global Trends 2022", the country ranked ninth in the ranking by the number of investors who invested in the technology sector in the period 2021-22. A total of 47 large investors were registered in public transactions. We are talking about deposits through, among other things, investment funds.
The top ten also includes the USA with 1,269 investors, Great Britain (196), India (130), Germany (106), Canada (105), China (96), Singapore (64), France (58). Spain is next, and Brazil and Israel share tenth place with 30 investors in each case.
Spain is also the fifth country in the world in terms of attracted investments. We are talking about 903.5 million euros only for the first four months of 2023. Only the USA (366.6 billion euros), Great Britain (5.3), India (1.7) and South Korea (1.3) are ahead.
