proptech

American

[prop-tek] / ˈprɒp tɛk /

noun

digital technology developed for use in the real estate industry, including property management, construction, and finance and investment software (often used attributively).

proptech startups;
the proptech sector;
sellers utilizing proptech to ascertain their market.
a company that develops technology for the real estate industry or that integrates such technology into its products or services.

Investment in proptechs has slowed.

Etymology

Origin of proptech

First recorded in 2015–20; prop(erty) ( def. ) + tech(nology) ( def. )

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

Nicholas Mak, chief research officer at proptech company MOGUL.sg, said there were limitations to the measures if just 10% of purchases were affected.

From Reuters • Apr. 27, 2023

The company likely doesn’t need to, said Clelia Warburg Peters, former president of Warburg Realty, who is now what is known as a proptech investor.

From Seattle Times • Dec. 21, 2021

Elistratov said his "optimal model, scenario" envisaged changing the perception of his business from a traditional residential property developer to a property technology, or proptech company.

From Reuters • Nov. 29, 2021

LaSalle, a unit of Jones Lang LaSalle Inc, has tracked about 190 proptech companies launched over the past three to four years.

From Reuters • Jun. 5, 2018

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023