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Spain made this multi-million investment in the period 2020 and 2021. Proptech refers to companies in the real estate sector that use technology to make their processes more efficient. It has become an important activity for the buying, selling and leasing of assets, the construction process, financing, design, maintenance and management of commercial assets and residential construction.

Only America invests more in proptech than Spain

As mentioned, Spain invested no less than 824 million euros in these two years. Only Americans invested a higher amount (5,889 million euros) in proptech during this period. This investment can be seen from a report submitted by the Association of Real Estate Agents (API) in Catalonia and Deloitte Spain. According to the report, investment in this segment has had “strong and exponential growth” in recent years.

Spain is the third country in Europe with the most proptech companies

Although the UK is the country with the most proptech companies in all of Europe – the UK owns 709 of the 4,100 proptech firms in Europe – the UK invests a lower amount (769 million euros) than Spain in this sector. Spain has a total of 536 such companies in its own country. Some examples of proptech companies in Spain are Fotocasa, Idealista, Housfy and Madiva.

According to API and Deloitte Spain, proptech will continue to grow in 2022, the sector will be increasingly digitized and demand will continue to grow. In Spain, these companies focus on the housing sector and the technology that can be applied within it. In other European countries the focus is more on the business construction sector (offices, etc.)

More growth expected in proptech investment in Spain

Both sides expect more investment in proptech in Spain this year, especially to optimize energy consumption in homes and buildings. They also hope to take steps to further develop virtual visualizations for potential buyers and investors of properties and homes.