INDUSTRY OUTLOOK
HOW PROPTECH IS KEY TO UNLOCKING THE REAL
ESTATE MARKET
The real estate industry has often been described as ‘ archaic ’ when adopting new technology . Here , Helen Mutucumarana , Partner , Real Estate , HCR Hewitsons , speaks to us about the status of this sector in the UK and how innovation – particularly PropTech – can revolutionise this sector .
Technology continues to revolutionise our day-to-day lives but how much is it transforming the real estate industry and the way property lawyers transact ?
Conservative , archaic and stable investment are all terms still used to describe the UK real estate market . Property professionals often consider these to be positives of the industry but none of them particularly inspire thoughts of innovation and willingness to engage with technology .
The lack of incentive for change when the economy is buoyant and various restrictions on property owners – such as Real Estate Investment Trusts ( REITS ), pension funds and private equity – can hinder the integration and capital spending on technology in the market . www . intelligentfin . tech
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