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What’s The Difference Between Proptech and Contech?

Sep 16, 2024 | Data Domain

In real estate and construction, proptech and contech have emerged in more recent years with the potential to disrupt and digitise.

These technologies are driving innovation across industries, yet they each serve distinct roles.

We uncover the nuances and distinctions between proptech and contech here.

Defining Proptech and Contech

Proptech

Proptech is the broad umbrella term encompassing all digital innovations that enhance and streamline processes within the real estate industry.

It covers everything from property management and transactions to marketing and customer engagement.

While its reach can extend to the construction phase of property development, proptech’s focus is on optimising the entire lifecycle of real estate—from conception to management.

Here are examples of startups and more established proptech companies making waves in real estate:

Archistar specialises in AI-driven architectural design and property analytics, helping developers and architects assess building potential.
Propic uses AI and machine learning to enhance real estate processes such as sales, property management and customer service automation.
Little Hinges specialises in digital property marketing solutions with virtual property tours, floorplans, virtual staging, global platform and an Insights portal.
Equiem provides tenant engagement technology for commercial real estate, focusing on improving communication and services between landlords and tenants.
CoreLogic, a provider of financial, property, consumer information services known for their comprehensive real estate data services, is also a leading player in AI-powered housing data and analytics.
AirBNB is well known as a short-term rental platform, however, Airbnb’s disruption and influence on the traditional property management and rental markets has defined its role in the proptech sector.
Zillow is a comprehensive platform connecting renters, buyers and sellers to facilitate seamless transitions into their dream homes.

Contech

While proptech may briefly address construction, contech is solely focused on the construction process, providing solutions that improves safety, efficiency and/or precision on the job site. In general, it refers to the technologies that directly impact the planning, design and building of structures.

Here are some notable contech companies making an impact on the construction industry:

Autodesk is known for their Design and Make Platform for planning, design, construction and project operation.
Procore’s cloud-based construction management platform streamlines every process from pre-construction to closeout.
Built Robotics has a mission to build the robots that build the world.
Rhumbix is a software company which consolidates and digitises field reporting workflows into one app.
Matterport is a spatial data company focused on digitising and indexing the built world with their all-in-one 3D data platform.
cmBuilder offers 4D construction site logistics with fast & easy cloud-based workflows, powerful sequencing simulation capabilities, and unparalleled real-time collaboration.

Key Differences Between Proptech and Contech

Scope of Application:

Proptech covers a broad spectrum of digital tools and platforms used across the real estate industry, including everything from smart property management systems to online marketplaces that simplify buying, selling, and renting properties.
Contech is focused on the construction phase of property development. It involves tools and technologies that assist architects, engineers and builders in creating physical structures, from advanced construction materials to innovative design software.

Target Audience:

Proptech primarily targets real estate professionals, including developers, property managers, realtors, investors, and tenants. Its tools are designed to enhance customer experiences, streamline transactions and provide valuable market insights.
Contech caters specifically to construction professionals—architects, contractors, engineers, and construction workers— with a focus on improving the efficiency, safety and/or quality of the construction process.

Technological Impact:

Proptech typically integrates technologies such as Big Data, Artificial Intelligence, Virtual and Augmented Reality, IoT and Blockchain. These innovations have the power to transform traditional real estate practices, offering smarter, more efficient ways to manage properties, conduct transactions and interact with clients.
Contech typically leverages technologies like Building Information Modeling (BIM), prefabrication, robotics, drones or wearable tech. These tools are generally designed to enhance and optimise the construction process, reduce risks and improve productivity on-site.

Proptech and Contech: Better Together

While proptech and contech operate in different domains, their intersection is where the magic happens.

Proptech’s digital solutions often complement contech’s innovations, creating a seamless flow from project planning and construction to property management and sales.

For instance, a real estate developer might use contech to design and build a property, then rely on proptech platforms to market, lease or sell the units.

Proptech and contech both offer powerful tools that drive efficiency, safety and profitability in real estate and construction.

By leveraging these technologies, professionals can navigate industry complexities with greater agility and success.

At The Proptech Cloud, we believe in the game-changing power of both proptech and contech.

Together, they’re reshaping the future of real estate—one innovative solution at a time.

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Useful Websites for Australian Properties, Parcels and Addresses

Researching the existence of a property or verifying data can be challenging, often resulting in conflicting answers. Depending on your definition of a property, it may be necessary to visit various websites to validate property data.

Understanding Housing Affordability: Key Metrics and Statistics

Housing affordability is a significant concern in many parts of the world, affecting the quality of life and economic wellbeing of individuals and families.

To understand the dynamics of housing affordability we need to take a detailed look at a range of different metrics and statistics to gain a full picture.

The Three Primary Methods of Real Estate Data Integration

cLearn the three primary methods of real estate data integration—geospatial relationships, title matches, and address matching—to improve accuracy, insights, and decision-making.

What’s the Difference Between GDA94 and GDA2020?

Geodetic datums, or geodetic systems, are often used by proptechs. Here is a rundown of everything you need to know about the different geodetic datums we use and reference in Australia.

Alternative Data: What Is It, Who Uses It And Why It Matters

Discover the powerful intel alternative data can offer. Learn why businesses and investors are turning to non-traditional data sources for deeper insights and smarter decisions.

The Property Lifecycle

Aug 22, 2024 | Data Domain

Discover the property lifecycle and how it brings together various sectors such as government, legal, construction, finance, and insurance, while connecting a wide range of professionals.

This infographic offers a high-level overview of the key phases and processes.

Useful Websites for Australian Properties, Parcels and Addresses

Understanding Housing Affordability: Key Metrics and Statistics

Housing affordability is a significant concern in many parts of the world, affecting the quality of life and economic wellbeing of individuals and families.

To understand the dynamics of housing affordability we need to take a detailed look at a range of different metrics and statistics to gain a full picture.

The Three Primary Methods of Real Estate Data Integration

cLearn the three primary methods of real estate data integration—geospatial relationships, title matches, and address matching—to improve accuracy, insights, and decision-making.

What’s the Difference Between GDA94 and GDA2020?

Geodetic datums, or geodetic systems, are often used by proptechs. Here is a rundown of everything you need to know about the different geodetic datums we use and reference in Australia.

Alternative Data: What Is It, Who Uses It And Why It Matters

Discover the powerful intel alternative data can offer. Learn why businesses and investors are turning to non-traditional data sources for deeper insights and smarter decisions.

Crafting a Storm Surge and Hurricane Risk Rating for Coastal Properties

Jul 23, 2024 | Inference and Analytics

In an era where climate change is intensifying the frequency and severity of storms and hurricanes, especially in coastal regions, understanding and quantifying the associated risks is critical.

According to the National Geographic Society, a storm surge is a rise in sea level that occurs during tropical cyclones, which are intense storms also known as typhoons or hurricanes.

The storms produce strong winds that push the water into shore which can lead to flooding and pose a real threat in coastal regions.

To help understand these risks, a Storm Surge and Hurricane Risk Rating score can provide property owners, developers, real estate agents, insurers, urban planners, local governments, buyers and investors with a clear picture of a property’s vulnerability to these natural disasters.

These stakeholders will be conducting their own necessary research, and a risk rating system can offer an indicative metric to guide their decisions.

Why is a Storm Surge and Hurricane Risk Rating Important?

Understanding storm surge and hurricane risks is crucial for building a resilient society.

Natural catastrophes pose significant challenges, and quantifying these risks can aid in better preparation and prompt responses.

Strengthening homes and incentivising homeowners to invest in property fortification can reduce potential losses. Accurate risk assessments and reliable data can allow insurers to offer discounts for mitigation actions, enhance home resale values, and reveal the increased costs to mortgage issuers due to natural disasters.

Achieving resilience relies on expert understanding of the real estate ecosystem and the benefits of informed mitigation strategies.

Steps to build a Storm Surge and Hurricane Risk Rating

1. Defining scoring criteria and scale

The foundation of a risk rating system is a clear and understandable scale, such as 1 to 10, with each number representing a different level of risk.

Establishing specific criteria for assessment is also essential for a well-rounded evaluation.

2. Key factors to consider

Several factors contribute significantly to a property’s risk from storm surges and hurricanes:

Proximity to Coastline: The closer a property is to the coastline, the higher the risk of storm surge impacts.
Elevation and Topography: Properties at higher elevations or with certain topographical features may have reduced risk.

Historical Data: Analysing past hurricane and storm surge incidents from historical weather databases and local government records can provide critical insights into potential future risks.
Local Climate Trends: Understanding the local weather patterns can help predict the likelihood of storms.

Flood Zone Designation: Properties in designated flood zones face a heightened risk. Flood risk information is generally available from Local Councils.
Building Design and Materials: Construction that is designed to be resilient against high winds and flooding can mitigate risk.
Infrastructure and Preparedness: Robust local infrastructure and emergency plans can play a vital role in risk reduction.
Natural Barriers: The presence of natural features, such as dunes or wetlands that can absorb storm impacts, reduces risk.
Regional Planning: Effective community and regional planning and zoning can mitigate potential damage. Consult local zoning laws and development plans for more property-specific.

3. Assigning weights to each factor

Assigning appropriate weights to each of the above factors based on its impact on overall risk ensures that the score accurately reflects the property’s vulnerability.

Use expert consultations and statistical analysis to determine appropriate weights, and adjust weights based on real-world data and expert feedback.

4. Data collection and analysis

Gathering and analysing data, including GIS mapping, climate records and historical event data, is crucial to assigning accurate sub-scores for each criterion. Cross-referencing multiple sources will ensure data accuracy and statistical software can be used for thorough analysis.

5. Calculating the overall score

By aggregating these sub-scores, considering their respective weights, we arrive at a comprehensive risk rating for each property. Using a formula or algorithm will ensure consistency in calculations. Further validating the scoring system with sample properties will help improve accuracy.

6. Validation and adjustment

It’s vital to validate and adjust the rating system against historical data and expert analysis to ensure its reliability and accuracy. Regularly review and update the criteria and weights based on new data.

7. Providing risk mitigation recommendations

Along with the risk score, offering advice on how to reduce a property’s vulnerability to storm surges and hurricanes can be highly beneficial. Suggestions such as upgrading building materials, improving drainage systems or investing in flood barriers can form a checklist of actionable steps to reduce a property’s vulnerability.

8. Regular updates and re-evaluations

Continuously updating the risk rating system to reflect environmental changes, infrastructure developments and updated data is crucial. This includes regular reviews, incorporating new data and tech advancements can improve the risk rating system.

Building Resilience with Accurate Risk Ratings

Stakeholders can create a robust and reliable risk rating system that enhances safety and preparedness in coastal areas.

A well-developed Storm Surge and Hurricane Risk Rating can provide essential information for making educated decisions about property development, insurance and risk management.

As the world grapples with the increasing challenges of climate change, these tools become ever more critical in our collective efforts to build resilient communities.

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Useful Websites for Australian Properties, Parcels and Addresses

Understanding Housing Affordability: Key Metrics and Statistics

Housing affordability is a significant concern in many parts of the world, affecting the quality of life and economic wellbeing of individuals and families.

To understand the dynamics of housing affordability we need to take a detailed look at a range of different metrics and statistics to gain a full picture.

The Three Primary Methods of Real Estate Data Integration

cLearn the three primary methods of real estate data integration—geospatial relationships, title matches, and address matching—to improve accuracy, insights, and decision-making.

What’s the Difference Between GDA94 and GDA2020?

Geodetic datums, or geodetic systems, are often used by proptechs. Here is a rundown of everything you need to know about the different geodetic datums we use and reference in Australia.

Alternative Data: What Is It, Who Uses It And Why It Matters

Discover the powerful intel alternative data can offer. Learn why businesses and investors are turning to non-traditional data sources for deeper insights and smarter decisions.

Could a Revamp of Australian Property Planning Rules Solve Some of Australia’s Housing Issues?

Apr 1, 2024 | Inference and Analytics

Rising property prices and high costs of living means the Australian dream of home ownership is slipping further and further away for many. Could an overhaul of Australian property planning rules offer a solution?

In recent discussions during a heated ABC Q+A debate on Homeownership, Homelessness & Housing supply, the Australian dream of homeownership has taken centre stage again, unveiling a crisis that grips not just potential homeowners but extends its grasp towards the homeless and vulnerable communities across the nation.

Even those “fortunate” enough to have purchased property are feeling significant interest rate stress as cost-of-living soars in recent times. Renters are experiencing rent hikes and dealing with historically low vacancy rates.

Australia’s housing issues in the spotlight

“Fundamentally, the problem is that we’re not building enough homes,” Mr Leigh, the Assistant Minister for Competition, Charities and Treasury, told Q+A.

It’s clear that Australia requires millions more homes to meet current demand but also accommodate future population growth.

However, as it stands, governments are finding it challenging to meet their own targets.

The debate, and followed up by The Sydney Morning Herald article Do planning rules really affect house prices? The answer is clear, has cast a spotlight on a host of interconnected factors contributing to this issue.

At the heart of the matter are planning and zoning rules, which, contrary to some beliefs, significantly influence housing prices and supply. This is a contentious point, highlighted by the disagreement between Max Chandler-Mather, Greens Spokesperson on Housing & Homelessness, and Dan McKenna, CEO of Nightingale Housing, pointing to a deeper complexity within the debate.

While Shadow Assistant Minister for Home Ownership, Senator Andrew Bragg’s remarks on construction industry, skills shortage and migration underscores the multifaceted approach needed to address the crisis.

This crisis reflects broader societal issues—including a shortage in construction and trades to debates on policy, immigration, and infrastructure development.

The challenges extend to financial mechanisms of owning a home, with strategies like tapping into superannuation funds or adopting shared equity schemes considered as possible solutions (which have their own implications).

Could a revamp of property planning rules solve Australia's housing issues

As housing prices in some states soar to record levels and impact housing affordability, the dream slips further away for many, with rising homelessness a sign of a deepening emergency.

The conversation also touched on regulatory measures like controlling rent increases and revisiting the impacts of capital gains tax and tax concessions, such as negative gearing, which has been identified as contributing factors in the price hikes over the last few decades.

A possible solution to the housing crisis

Looking beyond our shores for solutions, it’s clear that this is not an issue unique to Australia.

International examples offer alternative paths forward and suggest a re-evaluation of property planning rules.

But first, we need to understand our current property planning rules.

Captured and represented by Archistar, Australian Property Planning Rules for Land Use could provide crucial insights into land use and, potentially, relief to the crisis. The data, available via the Snowflake Marketplace, details current land use zoning applied across the nation with geospatial representation. The use of that data can help us to understand where we currently stand and offer possible solutions when variables are tweaked, such as housing density.

Another challenge in solving the housing affordability problem in Australia, and globally for that matter, is the accessibility of data.

Archistar is helping to break down these barriers by collating national datasets for planning rules that can be easily accessed and analysed using Snowflake’s Data Platform.

The way forward

As we negotiate this national emergency, it becomes increasingly evident that a multifaceted and inclusive approach is essential.

Engaging in open discussions, exploring innovative housing policies, and reconsidering the frameworks which our housing market operates could pave the way towards a more equitable future.

The dream of homeownership, safeguarding against homelessness, and the creation of sustainable communities demand it.

Australian Property Planning Rules for Land Use

Access Archistar’s Australian Property Planning Rules and understand zoning designations and regulations across the nation.

Access data listing

Subscribe to our newsletter

Subscribe to receive the latest blogs and data listings direct to your inbox.

Useful Websites for Australian Properties, Parcels and Addresses

Understanding Housing Affordability: Key Metrics and Statistics

Housing affordability is a significant concern in many parts of the world, affecting the quality of life and economic wellbeing of individuals and families.

To understand the dynamics of housing affordability we need to take a detailed look at a range of different metrics and statistics to gain a full picture.

The Three Primary Methods of Real Estate Data Integration

cLearn the three primary methods of real estate data integration—geospatial relationships, title matches, and address matching—to improve accuracy, insights, and decision-making.

What’s the Difference Between GDA94 and GDA2020?

Geodetic datums, or geodetic systems, are often used by proptechs. Here is a rundown of everything you need to know about the different geodetic datums we use and reference in Australia.

Alternative Data: What Is It, Who Uses It And Why It Matters

Discover the powerful intel alternative data can offer. Learn why businesses and investors are turning to non-traditional data sources for deeper insights and smarter decisions.

Top Real Estate Technology Global Events

Mar 26, 2024 | Events

As the real estate industry continues to evolve at a rapid pace, staying abreast of the latest trends, technologies, and innovations is crucial for professionals seeking to leverage the full potential of real estate technology and proptech.

For anyone in property and real estate, attending global proptech events offers a chance to integrate into the wider real estate technology industry.

Top 3 reasons why these events are valuable

1. Networking, learnings and potential partnerships

A diverse mix of professionals allow for broader networking opportunities than what your local market may offer. Particularly in overseas markets where the proptech industry may be more mature or advanced compared with your local region, these events allow you to connect with leaders, potential customers, and collaborators who might offer valuable learnings, insights to trends and new technology. It could also offer a window into alternative business models or a global perspective into the market and competition. These events may even present a platform for gaining feedback and validation, or to identify and recruit talent.

2. Brand visibility and marketing

Participation at these events may significantly increase a business’ visibility within the global industry; even more so if you attend as a speaker or exhibitor. An effective platform to showcase innovations, solutions, and success stories to a targeted audience, high visibility can enhance brand recognition, attract leads or other marketing opportunities.

3. Investor engagement

Often attended by venture capitalists, angel investors, and other financial backers actively seeking to invest in promising startups, these events can offer potential pitching sessions, one-on-one meetings, and informal networking opportunities.

Global Real Estate Technology and Proptech events

2024 delivers a range of global events dedicated to real estate technology and proptech, offering plenty of opportunities for learning, networking, and growth. Varying from conferences to interactive expos, these events bring together thought leaders, innovators, and practitioners from around the world. Here is our round-up of top global events:

Event	Description	Location	Dates
RETCON 2024	Real Estate’s Leading Technology & Innovation Conference.	New York, USA	1-3 April
PropTech Summit	PropTech Summit is the new trade fair and conference for the PropTech industry.	Hamburg, Germany	10-11 April
CRETech London	The World’s Leading Built World Innovation and Sustainability Conference Series.	London, UK	8-9 May
PropTech Symposium Denmark	Exciting debates, startup showcases, and insights from international thought leaders.	Copenhagen, Denmark	13 May
Future of Construction Summit	The annual gathering for the people and companies redefining Australia’s construction industry.	Brisbane, Australia	14-15 May
Property Technology Confex	A Digital & Sustainable Built Environment – Investing, Selling, Managing and Operating	Dubai, UAE	3-4 June
Proptech Vienna	The networking conference on innovation, technology and sustainability in the international real estate industry, connecting tech and real estate experts with startups, scaleups, investors, business angels, VCs and industry associations.	Vienna, Austria	13 June
Australian Proptech Summit	Proptech solutions for Australia’s new commercial and residential reality.	Sydney, Australia	30 July – 1 August
Inman Connect	Through immersive experiences, innovative formats, and an unparalleled lineup of speakers, this gathering becomes more than a conference — it becomes a collaborative force shaping the future of our industry.	Las Vegas, USA	30 July – 1 August
iOi Summit by NAR	PropTech leaders and futurists, investors, and forward-thinking real estate professionals come together to fuel the future of the industry.	Chicago, USA	28-29 August
PropTech Connect	Europe’s largest proptech event.	London, UK	4-5 September
REAL PropTech Conference	Germany’s most important conference on PropTech, digitalisation and transformation of the construction and real estate industry.	Frankfurt am Main, Germany	4-5 September
Blueprint	The premier event for industry executives, real estate & construction tech startups, and VCs.	Las Vegas, USA	17-19 September
Expo Real 2024	Expo Real is the most important trade fair for the real estate industry and offers a comprehensive overview of developments, topics, innovations and solutions in the real estate industry.	Dubai, UAE	7-9 October
Urban Tech Forward	Urban Tech Forward aims to accelerate the development of net-zero cities. Designed to rethink spaces where people live and work – through the prism of decarbonisation and resilience – it brings together urban tech innovators, VCs, real estate developers, policy-makers and most prominent entrepreneurs to shift the way we build and make real progress on achieving a zero-carbon future.	Warsaw, Poland	25-26 October
The Global Proptech Summit	A Future Vision Built on Local and Global Insights and Statistics	Riyadh, Saudi Arabia	27-28 October
CRETech New York	The World’s Leading Built World Innovation and Sustainability Conference Series.	New York, USA	13-14 November
Proptech Forum 2024	An event to unite proptech founders and teams collaborating on the future of the industry.	Sydney, Australia	14 November
Home apti Award	The apti award recognises the most innovative Tech provider and startups in the international Real Estate sector. Both national and international PropTechs have the opportunity to apply in the categories.	Palais Berg, Austria	14 November

Other Considerations

Other than factoring in the cost and time associated with traveling and attending these global events, consider the relevance and quality, because not all events are created equal.

Check for alignment and relevance with your niche and strategic focus.

And lastly, with the growing range of digital alternatives, consider whether virtual events can offer you similar benefits.

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Next Entries »

Defining Proptech and Contech

Proptech

Contech

Key Differences Between Proptech and Contech

Scope of Application:

Target Audience:

Technological Impact:

Proptech and Contech: Better Together

Subscribe to our newsletter

Read more from The Proptech Cloud

Read more from The Proptech Cloud

Why is a Storm Surge and Hurricane Risk Rating Important?

Steps to build a Storm Surge and Hurricane Risk Rating

1. Defining scoring criteria and scale

2. Key factors to consider

3. Assigning weights to each factor

4. Data collection and analysis

5. Calculating the overall score

6. Validation and adjustment

7. Providing risk mitigation recommendations

8. Regular updates and re-evaluations

Building Resilience with Accurate Risk Ratings

Subscribe to our newsletter

Read more from The Proptech Cloud

Australia’s housing issues in the spotlight

A possible solution to the housing crisis

The way forward

Australian Property Planning Rules for Land Use

Subscribe to our newsletter

Read more from The Proptech Cloud

Top 3 reasons why these events are valuable

1. Networking, learnings and potential partnerships

2. Brand visibility and marketing

3. Investor engagement

Global Real Estate Technology and Proptech events

Event

Description

Location

Dates

Other Considerations

Subscribe to our newsletter

Read more from The Proptech Cloud

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