Survey reveals growing availability and desire for online tools in the region
HONGKONG, July 31, 2018 — In late 2017, Yardi sponsored a survey and report completed by Chinese real estate business intelligence source Mingtiandi on the state of Asia’s real estate industry, which grew by $867 billion in China, Hong Kong and Singapore in 2016 and accounts for about 20% of China’s gross domestic product. The majority of survey respondents work in China, Hong Kong and Singapore.
Key findings from the survey:
- More than 55% of respondents perceive Asia as trailing the West in the adoption of technology within the real estate industry; less than 12% saw Asia as the leader
- Almost 77% regard real estate as trailing other industries in technology adoption; less than 6% regard property companies as leaders
- More than 83% consider access to information a competitive necessity
- More than 42% manage leasing, sales and property management on spreadsheets
- 43% identify internal resistance to change as the single largest barrier to adopting online tools for improving workflows and streamlining operations
Companies and technology providers are moving fast to align Asia’s real estate technology with the rest of the world. Property management technology companies in the Asia Pacific region have received $7.8 billion in investments since 2013, accounting for 60% of global property management technology investments in that time.
For more information on trends in Asia’s real estate technology adoption, download the Mingtiandi report.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in Asia, Australia, the Middle East, Europe and North America. For more information, visit yardi.com/asia/.
Press: Nina Feldman, Yardi Systems Inc., +61 (2) 8227 2267 Nina.Feldman@yardi.com