Half of Asia Pacific Property Managers Have Enhanced Tech Systems-Survey

Emerging client demands and the global health crisis place new pressures on developers and fund managers to find systems that can streamline delivery of data in the property scene.

November 4, 2021 – About half of real estate specialists in Asia and Australia said they have enhanced their tech systems and have considered collaborating with tech experts over the last year, as the global health crisis accelerated property technology adoption across the region. 

Two surveys, commissioned by global software firm Yardi Systems, showed that property players actively sought new ways to streamline their operations and gain an edge over their competitors due to Covid-19. Increasingly, that edge is found in property technology, or proptech.

The first survey, in collaboration with Asian real estate news source Mingtiandi, polled 180 real estate specialists across the region in August 2020. The second surveyed 216 members of the Property Council of Australia in November 2020.

Results showed that about 42% of Asian respondents considered new collaboration systems to gain proptech advantage during the pandemic. For Australian respondents, the number was higher at 52%. 

Australian respondents also focused on bolstering their current proptech abilities, with 55% of respondents saying they have enhanced existing tech systems. 20% of respondents, meanwhile, plan to embark on new digitisation projects. 

For Asian respondents, 41% also said they’re focusing on digitising paper-based systems while 39% are investing in tools to simplify reporting under crisis conditions. 

“As proptech moves at lightspeed, property companies are embracing an experimental mindset – trialling, testing and tweaking to stay competitive, and above all, to create a better customer experience,” the report read. 

For the full report on the 2020 Proptech Report, click here.