Ryan Mahoney (Dubai, UAE): What’s in Store for Protech in 2022?

Real estate expert Ryan Mahoney (Dubai, UAE) is an appointed member of the Dubai Chamber of Digital Economy’s advisory council. This article will look at the growing proptech sector, exploring current proptech trends.

The pandemic triggered an acceleration in the property technology (proptech) space. Even before COVID-19,  impressive advancements were already being achieved in proptech. However, pandemic-induced changes in consumer behaviors fueled rapid advancements designed to meet these evolving needs. Moving through 2022, the following proptech trends have come to the fore.

Streamlining the Homebuying and Selling Process

At the height of the pandemic, activities people previously took for granted, such as moving home, created a significant health risk. From viewing properties to securing financing and closing the deal, buying property has always been an in-person event. Although many buyers are likely to show a preference for physical contact at certain points in the transaction, proptech has paved the way for the elimination of tasks no one wants to do in person. Experts predict an increase in interfaces designed to integrate the physical and virtual sides of homebuying as seamlessly as possible.

Personalization with Artificial Intelligence (AI)

Today’s realtors can easily obtain relevant data of individuals seeking to buy or sell properties online via social media platforms, tapping into this information to attract more clients and enhance their profit margin. This can be achieved by harnessing the power of AI tools to personalize messaging, enabling relators to cater to the needs of all prospects.

Filling Vacancies

The pandemic has caused consumers to reevaluate how they work and learn, triggering dramatic changes in the way many people live. Some employees have made a permanent shift to remote working, enabling them to relocate. Others anticipate a hybrid situation moving forward, working at home at least some of the time – meaning they will spend much more time at home and will require the space to accommodate that.

To address this need while simultaneously addressing the rising problem of commercial property vacancies, proptech start-up Neighbor has developed a platform to enable commercial landlords to rent out vacant interiors, or even outdoor space, for the storage of everything from cars and RVs to boxes of household items.

Proptech is an amazingly imaginative space, and in the months and years to come real estate investors of all experience levels will want to keep an eye out for new developments that could give them a significant edge.