The application of proptech is increasingly popular, especially since the COVID-19 pandemic. (Photo: VNA) According to property services company Jones Lang LaSalle (JLL), Vietnam’s realestate industry is seeing an increasing wave in applying technology, mostpopular in residential and commercial sectors.
Proptech proved their advantages and efficiencies in promoting sales andincreasing interactions between buyers and developers in the COVID-19 pandemicwith social distancing measures in place.
JLL said that the Government should raise policies to create favourableconditions for the development of technology start-ups.
JLL pointed out that foreign-invested companies are dominating the proptechstart-up ecosystem in Vietnam, accounting for 80 percent of the total numberof proptech firms.
Many proptech enterprises made their debuts from the beginning of this year.
In early April, an app named Dat Vang Viet Nam (Golden Land Vietnam) developedby Vietnam Golden Land Technology and Real Estate Investment Joint StockCompany debuted with an investment worth 500,000 USD from SGROUP, which aimedto become an online real estate platform in the next three years incorporatingtechnologies like GIS and 360-degree virtual tours.
Other proptech platforms recently launched were ECOE, Propcom, Gaapnow, MeeyCRM and Meey Land.
According to FinREI Investment Joint Stock Company, a real estate technologystart-up, there are more than 50 proptech companies operating in Vietnam, whichare transforming how properties are developed, sold and managed.
Tran Van Hao, technology director of Vietnam Golden Land Technology and RealEstate Investment Joint Stock Company, said the birth of real estate apps wasinevitable and the trend would continue to flourish, powered by a young andtech savvy population.
“I think the race in applying technology in real estate will be really fiercein the near future,” Pham Lam, founder of DKRA Vietnam and Houze ecosystem,said at Houze Day Real Estate Technology Forum 2021 held in mid-December.
Statistics of Fintech Global showed that a sum worth 7.1 billion USD was pouredinto proptech globally as of the third quarter of 2021, 122 percent higher thanthat of the full year of 2020.
According to Savills Vietnam, Vietnam’s real estate market would continue togrow, especially in major cities including Hanoi, HCM City and tourism cities.Savills predicted that there would be more investment flow into proptech tocapture the opportunities as well as promote the market development.
The Vietnam Real Estate Association forecast that Vietnam’s property marketwould reach more than 1.23 trillion USD by 2030, accounting for 22 percent ofthe economy’s total assets./.
VNA
