Real Estate Tech In Spain is on the ascend, there are over 13 million homes with Internet access and 2 out of 3 people use the Internet on a daily basis and 67% search home through real estate sites.
Spain and its story
A country with diverse geography cultures, Spain is made up of 17 autonomous regions and is situated in the Iberian Peninsula. With its vast area, Spain is the largest country in Southern Europe, with a population of over 46.56 million. Though its largest, as well as capital city, is Madrid, Spain’s other cities like Barcelona, Valencia, Seville and Malaga are highly popular too. This developed country is an economy with a globalist mindset. Spanish companies have invested and ventured into foreign lands since 1990’s and this early expansion has helped Spain have a global competitive advantage as compared to its European counterparts.
The climate of Spain, its geographical location, popular coastlines, diverse landscapes, historical legacy, vibrant culture and excellent infrastructure, has made Spain’s international tourism industry among the largest in the world. In the last five decades, international tourism in Spain has grown to become the second largest in the world in terms of spending. All these factors together contribute to the growth and development of real estate tech in Spain, and give chances for PropTech to develop here.
It is also interesting to see entrepreneurship flourish in Spain. There is an increase in venture funding and the new generation of entrepreneurs are not just ones bringing international ideas home, but innovating to create local and global products. As the unemployment rates here continue to remain strong at 18.9%, the youth is turning towards entrepreneurship. Startup incubators, specialist lawyers, and experienced business advisors help ensure that entrepreneurship here is about building sustainable businesses. Funding networks in Spain now include public money, venture capital as well as business angels. Due to its strategic location, Spain’s startup environment enjoys exceptional geographical diversity and open routes to the world. This means, even more, good news for real estate tech in Spain, and creates immense opportunities for PropTech to disrupt the property market.
Real estate tech in Spain
In Spain, there are over 13 million homes with Internet access and 2 out of 3 people use the Internet on a daily basis and 67% search home through real estate sites. This, combined with the fact that the startup ecosystem in Spain is highly conducive, leads to more doors and windows for real estate tech in Spain. Technology here has blurred the lines of traditional business of real estate, though the adoption of new hi-tech tools is still slow in this sector.
The real estate tech in Spain is booming and there are hosts of startups and companies working to bring cutting edge technology to Spain. The PropTech here made up of some specific segments like Peer To Peer lending, marketplaces and portals, Big Data, Crowdfunding, Internet of Things (IoT), Management software, CRM and real estate management. Some interesting companies here are:
Luna and Brusola launched their real estate crowdfunding site Housers with two options for investors to choose from: an apartment in Madrid and a storefront in Valencia. The investment minimum is €500.
EscapadaRural is interesting as it is one of the few (if not only) startups in Spain focussing on the rural properties. It provides the largest search of rural accommodation in Portugal and Spain, with more than 15,800 accommodations.
Hundredrooms is a Spanish company based in Palma de Mallorca dedicated to comparing tourist apartments and holiday homes in Spain online more than five million possibilities and at the best price.
It is a direct property letting platform that provides prospective tenants with HD video tours of properties, as well as high-res photos, floor plans and fully transparent property descriptions, mitigating the risk that a rental property may not be as described by a landlord or lettings agent, particularly for expats who are moving to a new city and may need to rent a property without seeing it in person.
This online platform helps you compare the best tourist apartments, holiday homes, shared transport as well as help you make unique plans and activities.
There is VenuePlaces in Spain to help one utilize their real estate to the maximum by offering them to others for events and exhibitions.
Floorfy shortens the sale cycle of properties through virtual reality. It is a new modality to visit real estate through virtual tours.
One of the oldest platforms in Spain for property listings and it helps users and professionals to sell, rent or search your home.
One of the leading startups for AI in real estate is RestB.ai, it is a machine learning technology that has been specifically engineered to interpret Real Estate images with an expert eye.
There is also CityGrum, PlusVecinos and EasyStayTech in Real Estate Management, Immovable in Real Estate Software, Pricing Tools in Big Data, NUbings in home automation and Creditoh in Mortgage Financing.
It is also interesting to see Spain’s focus and involvement towards creating smart cities, that directly impacts and creates real estate tech in Spain. Valencia, Barcelona and Madrid, in particular, rank among the 50 “smartest cities” in the world. There is no doubt that the emergence of smart cities is having an incredible impact on the real estate sector in Spain, opening up new types of real estate, new forms of commerce and investment and, therefore, new regulations to make correct use of them. The real estate tech in Spain is flourishing and this is a good time for PropTech to change the way real estate is traded.
Way forward for real estate tech in Spain
Real estate tech in Spain is a sector that is experiencing high growth. Rise in entrepreneurship, the good real estate market, as well as foreign interest in this market, is ensuring that the PropTech sector is ripe with innovation and intelligent tools. In the coming few years, we can expect Spain to give competition to global markets, with the right government direction. The strategic geography of Spain opens up doors for the startups of here to cater to international markets easily, and have access to the best of knowledge, funds, and talent.
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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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