Canada has seen some of the fastest growing sectors for real estate technology & innovation and is becoming more prominent in its use of proptech due to the accelerated adoption of technology in the construction and real estate market’s.
Additionally, Canada’s real estate prices are growing 45% faster than any of the G7, with Real Estate prices increasing 2.93% in Q3 2020, a 8.27% increase versus the previous year. This annual growth is now the biggest of the G7 countries.
Growing almost 3x faster than the second fastest growing G7 country, Germany, the US Federal Reserve data shows real estate prices advanced most in the G7 in Q3 2020 with Canada at the top of the list.
In terms of Proptech in Canada, the fastest growing city in North America and home to America’s largest tech hub is Greater Toronto, with 24,000 companies employing 270,000 workers.
Some of the fastest growing categories within proptech are: rental management; building automation, property data and appraisal and digital construction..
This has prompted investment into Canada’s growing proptech ecosystem to aid growth in the real estate market with investors such as Colliers Proptech Accelerator and Reach Canada, two of the most notable, investing in approximately 10 global startups annually.
These Canadian proptech companies have raised more than $100 million in funding:
– short-term rental platform Sonder has raised $698 million since 2012;
– flex space marketplace Breather has raised $162 million since 2012;
– and residential brokerage and financing platform Properly has raised $118 million since 2018.
For more information into the Canadian Proptech market, see Proptech Collective’s ‘Proptech in Canada 2021 Report’
Second Century Ventures are one of the most active American investors and Property Inspect, owned by software solutions company Radweb Ltd in the United Kingdom, secured funding recently to be confirmed as an inaugural member of the award winning international ‘REACH program; UK Class of 2021’.
So how can Property Inspect help?
Property Inspect is a unique Proptech cloud based system and mobile app for scheduling, producing, managing inspection and property reports. It is relied on by thousands of property managers, service providers and inspection businesses to increase efficiency, reduce risk, save money, increase response times, quickly handle disputes and stay compliant.
Whether you’re a business looking for home inspection software, looking to streamline and improve your property management, or looking at technology to integrate into your company, Property Inspect is the complete end-to-end solution that is packed full of time-saving and revenue-generating features.
Don’t just take our word for it, see a list of some of our clients on the homepage.
Property Inspections and Management made simple!