The HKPTA is proud to support KPMG’s 2022 China Leading PropTech 50 Report. The summary and full report is per below.
Over the past few years, many PropTech start-ups have emerged, growing to more than 9,000 PropTech enterprises worldwide. This shift mainly results from the development of the digital economy and the goals of sustainable development that are changing the requirements of consumers and society. In addition, the rising inflation and capital and material costs, coupled with business model upgrades, are forcing industries to strongly pursue innovation. KPMG International has launched its seventh International Real Estate Innovations Overview (REIO) to provide insights into how technological innovations are reshaping the industries.
In line with the overall challenges in China's real estate sector, China's PropTech industry has faced headwinds to produce breakthrough successes in the past year. In addition to the geopolitical and economic factors mentioned, comprehensive domestic market regulation and the downward economic pressure due to the COVID-19 pandemic subjected the real estate market to dramatic impacts unseen in a century, making some enterprises unable to repay their debts. As a result, technological investments in the industry experienced fluctuations, and so did the technology enterprises along the industry chain. How to maintain stability and high quality development and improve lean operations in the times of uncertainty has become the core concern of the entire industry, and the adoption of technology is an area for enterprises to explore on their road to stability and growth. More and more new technologies are being applied in real estate business scenarios. In addition, the emergence of the metaverse and the diversification of the ecosystem have created new uncharted territory for the real estate industry.
KPMG China has continued its Leading PropTech 50 selection in 2022 had expanded our coverage, aiming to work with all parties in the industry to jointly open up new opportunities in PropTech, with the ultimate aim of helping industry explore new models of real estate development, so as to meet people's growing expectations for a better life.
KPMG's analysis of key trends that are shaping China's PropTech sector in 2023 and beyond
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