Initially geared primarily toward luxury homes, proptech now is breaking into multifamily across the board. Technological solutions are expanding into each phase of a building’s life cycle, from planning to management of the completed community. The impact of proptech can be vast, whether it be ease of living or sustainability.
One area where proptech will likely yield immense change is in the affordable sector. Today’s solutions can decrease costs significantly for residents and owners. Proptech is already making a contribution by decreasing costs for residents and owners, yet much potential remains untapped.