PropTech, the use of technology in the real estate sector is expanding religiously throughout South East Asia and investors have found a new price target to invest in. PropTech has been created to ameliorate efficiency and actions of living such as smooth transactions, lesser processing timelines, reduction of paperwork and much more. With the property market in bad shape, adding on with the pandemic’s limitations and a poorly handled supply-demand paradigm, lots of new start-ups have been attempting to fix the industry’s multiple pain points by integrating as much technology as possible.
“The demographic in Southeast Asia has favourable elements supporting investment into PropTech. This includes a young and growing tech savvy population, urbanization and a growing real estate footprint fuelled by strong economic growth and higher market transparency. We expect investments to continue in the region and play an increasingly influential role in the way real estate is managed and transacted,” says Chris Fossick, CEO, JLL Southeast Asia.
With Singapore taking the lead of having the most advanced PropTech market, other regions are not far behind to grow and expand due to high demands. The demand for private spaces rather than co-working spaces have also been on the rise due to social distancing becoming part of their daily lives. Indirectly, it has grown to make consumers more comfortable with virtual viewing, creating an opening for PropTech to jump into this opportunity.
Common Ground is Malaysia’s largest and leading co-working space that practices a flexible working environment to create great engagements with the community and having a coruscating ecosystem to boost companies to strive to the next level. Created in 2017, they have expanded to new regions located in Thailand and Philippines.
Their services cater to everyone, from small businesses in need of a private office, to part time freelancers or full time renting hot desks or fixed desks. Apart from the facilities provided, Common Ground goes above and beyond to show that the true reward is the culture that has been created to elevate and bind each of its members. The non-hierarchical surroundings and interactive nature lets people break away from conventional politics and allows people to develop friendships that transcend boundaries.
Founded in 2016, RentGuard offers way more than just selling properties. Add on a mobile booking system and Customer Relationship Management (CRM) for property agents, they aim to bring convenience and freedom to everyone. For landlords that need assurance, they only need to pay on what they agreed upon. From automating rental collection to defending rentals from unpleasant tenants, rental collection systems have been developed to make the process of collecting rent easier.
Arrivo is known to be one of Malaysia’s futuristic companies that works its way to establish License Plate Recognition to replace traditional parking systems. This parking system provides Artificial Intelligence (AI) image recognition, flexible change between Machine Learning (ML) and AI in low cost and efficiency to provide coverage anytime and anywhere.
Arrivo assists in reducing cost for building owners and at the same time creating seamless experience for its users. This tech savvy company aims to develop parking solutions that help increase productivity and efficiency as they are now at 99.89% accuracy rate. They are still gathering data and developing their upcoming model on the go in the Klang Valley and Selangor areas.
Singapore’s leading self-serve property transaction, Ohmyhome, founded by sisters Rhonda Wong (CEO) and Race Wong (CPO) in 2015 has finally opened Singapore’s first PropTech Innovation Centre, which also acts as their regional headquarters, in June 2019. The 11,000 square foot facility advances in innovation and productivity, as they are expanding into other regions. Located in the northern part of the Central Region of Singapore, Ohmyhome provides hot desks and seminar rooms where property programs and discussions will be conducted. There are three main spaces for users to utilize on – Moonshot Room, Grass Room and Happiness Room, each catered for different purposes.
Apart from assisting in the selling of properties, Ohmyhome offers multiple solutions to gather transaction resources such as brokers, mortgages, conveyancing, and renovation to give a “one-stop-shop” experience. With the company having plans to expand across Asia, there will be a boost on headcounts, including user experience designers, technologists and many more.
One of the benefits of buying a house is that you do not have to think about being duped. Greyloft is one of the many licensed real estate companies that uses technology to enhance the leasing and selling of real estate. Greyloft incorporates online decision-making tools with an in-house team of licensed property brokers to assist customers in making better renting and purchasing decisions.
Greyloft seeks to attract agents by having a CRM device that does a few obvious things that real estate professionals cannot get with their current setups. To aim higher, the company is also reinventing the real estate experience by incorporating a combination of online and offline resources to offer a robust customer-centric solution. Customers may use online resources to guide them navigate the entire rental process, from online analysis to paperwork and post-move-in assistance. Customers can take advantage of offline resources such as a dedicated team of licensed in-house property agents that can help them shortlist properties, arrange viewings, negotiate terms, and move in.
Founders Siddhesh Narayanan and Archit Agarwal came up with end-to-end digital experience in the property brokerage and buying space. To make it simpler, all paperwork is handled online, and customers can leave reviews for the agents with whom they dealt. They may also file complaints or questions about the property after they have moved in, and Greyloft will be there to help them fix the issues.
Travelio is an online real estate platform that links prospective tenants with property owners and developers, allowing them to browse and book fully furnished accommodations. Unlike international competitor Airbnb, which mainly focuses on renting out single rooms or whole units listed by individual property owners, the company primarily deals with property developers and their agents. According to its website, Travelio currently has myriad properties ranging from apartments, villas, and houses in 25 different cities across Indonesia
Furthermore, it aims to meet the growing demand for temporary accommodation, urbanization, and affordable living options in Indonesia as the country’s middle-class population rises. Travelio also has its own tricks up its sleeves, there will be an expansion on services such as interior designs, financing and payments, daily necessities, and others to be integrated into the ecosystem. In 2019, they have gained secured funding from Samsung Venture Investment Corporation, thus becoming a globally recognized and reputable firm.
One of Hoozing’s key objectives is to establish a clear real estate market in Vietnam while also facilitating and speeding up transactions through a technology advancement led by a team of top experts. Hoozing has also launched an app which helps landlords and customers find the best offers by using the company’s data bank and agent network. According to a statement, it would put together more than 50,000 properties and 7,000 agents from the Hoozing ecosystem. By having the app in your hands, you are able to browse, make online visits, and get advice from agents and market data analysis. Smart scan, 3D viewing of properties, and smart price comparison has also been included to have greater app experience.
Hoozing is dedicated to delivering knowledge, goods, and services that are reliable, straightforward, effective, and professional. Customers are briefed and served easily, effectively, and with the utmost consideration by enthusiastic sales workers. The aim is for everyone at Hoozing to make the right choices and have a good buying experience.
Zmyhome is a reputable home platform that enables owners to list their property for sale or rent without the need for agents. The key aim is to eliminate real estate market illiquidity and high commissions. They also want to help customers understand the market and reduce their risks when buying and selling homes.
ZmyHome has recently received $1 Million as funding from South Korea VC firm BonAngels Ventures Partners. According to the company, the newly raised capital will be used to develop ZmyHome’s infrastructure, agent service, and user growth functionality. The company also offers consultancy services such as site and project assessment, pricing analysis, legal processes, and loans.
When it comes to premiere, ZipMatch is one of them in educating and empowering buyers. ZipMatch isn’t all about real estate listings. They provide support from the beginning of the home-buying process to the final decision to become a homeowner.
Property scouts, real estate agents, and people who have stayed, visited, or expect to live there may all provide feedback on a property. Being the first PropTech company in South East Asia to have 360-degree Virtual Reality, ZipMatch also provides 3D floor plans, and interactive community and establishment maps to help homebuyers learn more about their prospective new residences.