Real estate tech in France or Proptech as it is currently called is not a new concept. Much like the UK, real estate tech in France has really picked up and new technologies are revolutionizing the way real estate businesses are done. Technology fuelled solutions are quickly solving localized problems intelligently and bringing about a change in the way real estate professionals work, and manage their property.
Real Estate tech in France is a broad term that encompasses different types of innovative startups that are functioning in the #PropTech category from building designs to operations and even sale of a property. The newest and most novels in this category are startups that are modernizing how real estate agents manage their property and are even using technologies like 3D modeling and Internet Of Things (IoT) to make way for smarter sustainable buildings, completely changing the face of real estate tech in France.
French Tech and Startups
France has been able to build a vibrant tech culture over the past decade building on from a network of hardware manufacturers to a cohort of apps, video game developers, and streaming sites today. Innovative hardware manufacturers, cult apps, and startups that provide convenience for the average Frenchmen are on the rise. This growth clubbed with the growth of commercial real estate here, gives way for real estate tech in France.
Real Estate Tech in France is finding innovative solutions to local problems
The real estate tech in France is not just aimed towards buying and selling of property but is also targeted towards building intelligent solutions for large real estate groups. These real estate groups face problems in the financial and administrative management of their assets, sale, and leasing of properties and even management of tenants and payments. Due to low adoption, it was tough for startups to enter this space, but now many companies are building for this solution. The turn-around time for deals and the efficiency of operational processes has increased due to new age solutions in PropTech.
One of the crucial aspects in any real estate deal is visiting the property or premises, and this process definitely needed some reimagination. Building Information Modelling (BIM) comes to the rescue here with giving them a lease of 3D life, real time! The startups solving this problem generally include work in the augmented reality (AR) and virtual reality (VR) space.
The problems and solutions for real estate in France also include thinking about sustainable building, energy efficiency, intelligent city planning, reducing wastage, and even thinking about integrating fintech with Proptech. These overlapping domains and the work of technology to seamlessly integrate both fields is what sets apart the French Proptech work from others.
Real Estate Tech in France
To understand the full movement of real estate tech in France or the Proptech scenario of here, one should see the different verticals that are currently functioning to change the realty space. Technologies in each of these realms are together making a bright future for real estate tech in France.
The top site in France for real estate discovering is MeilleursAgents, which is a platform that allows people who want to sell their property to connect with real estate agencies that best fit their needs and requirements. The website also offers an online tool to estimate property prices and various mapping of rental prices including a map showing the price per square meter. Other than real estate listings that enable discovering, buying and selling of properties, France is moving forward in the real estate tech games by working in different sectors and solving different problems. In France, some startups are working to make the “visit the premises” step easier by using AR and 3D modeling for virtuals tours and experiencing. ThirdStudio offers augmented reality visits for indoor and outdoor architectures. Not just for the consumer side, these technologies are also being used for large scale projects, like by Vectuel for making the Canopée des Halles understandable to everyone using 3D modeling.
The other interesting startups of real estate tech in France offer varied solutions. Meero is a startup that specializes in producing photos, videos and 360° panorama shots for real estate agents. It claims to have claims over 9,000 customers in the less than 18 months since its launch. Air Support by Parrot helps real estate and construction professionals with services related to aerial imagery by drones. FundImmo allows individuals to directly invest in development projects, and give real estate developers an alternative to traditional capital markets for funding.
Not just this, real estate tech in France is also the front runner in some new technologies and some companies are even enabling 3D printing technologies for building constructions! France based Constructions3D is using local materials and limits waste to give a faster, cheaper and greener 3D printed building solution. So are we soon going to see 3D printed buildings? Probably yes.
Real Estate tech in France is steps ahead of its European counterparts as a large number of companies are also working to build greener and more sustainable building solutions. Using technology to make buildings more energy efficient and smarter, keeping in mind environmental issues is sure to change our future. Two very interesting French startups in this space are: Sous les Fraises that works on building greener roofs and urban farming and Smart Impulse that helps tertiary building operators better understand and hence improve their energy efficiency.
Way Ahead for Real Estate Tech in France
Real Estate Tech in France or PropTech is on the verge of becoming a revolution in France as many large corporates and commercial property groups are including it in their work too. Innovation and forward design thinking are promoted and its high adoption is sure a positive sign.
Cannes, France is also been the host for much talked about MIPIM, the world’s leading international real estate exhibition, conference, and networking event. Spread over 5 days, MIPIM hosts more than 23,000 real estate professionals. among whom many are the PropTech innovators of tomorrow including the eight finalists of the 2017 MIPIM Startup Competition. This convention says a lot about the focus that France puts on real estate tech and how it is moving forward.
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Do you want to know what makes a winning PropTech startup, check out these Top 50 Real Estate Tech startups to watch out for in 2018.
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