Emerging Proptech Trends in Real Estate Asia Pacific

Published on: The Silicon Review

Property technology (Proptech) is increasingly moving into a market that is becoming comfortable with conventional real-estate companies, government agencies, and consumers. As per the recent report from Urban Land Institute and PwC Emerging Trends in Real Estate Asia Pacific (APAC) 2020, awareness and investment in proptech strategies are skyrocketing.

Some of the APAC’s popular customer-facing proptech offerings seem to be dressed like classifieds or property listing sites and apps – but they deploy very innovative technologies to entertain customers and help them manage the property buying or leasing cycle with ease. For example, Ohmyhome CEO Rhonda Wong is actively working on a solution that streamlines the property transaction processes into a single trusted platform. In addition to helping buyers sell their homes easily and at the best prices, Wong’s proptech platform has also put together residential transaction products including brokers, mortgage, transportation, and renovation to provide a “one-stop-shop experience.”

With the advent of artificial intelligence (AI) and machine learning, greater emphasis will be put on these new technologies to help buyers and sellers make informed purchase decisions, saving them time, effort and money.

Ohmyhome is designing its JOY chatbot for Singaporean-English or ‘Singlish-trained’ AI. Eventually, the ultimate goal is to develop a ‘virtual agent’ on their journey to assist Do-It-Yourself (DIY) buyers and sellers with their purchases, helping them to complete the entire transaction on their own.