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Monaco: Future International PropTech Centre

The ambition is there and we will see if the coming years materialise it digital technology is one of
the vectors of development of Mon gas ue real estate, proven by the fact that Monaco has its own
PropTech barometer, developed with ESCP Business School.

It’s one of the hottest acronyms right now: PropTech, short
for «property technology”, refers to software, tools, platforms,
applications, websites and other digital solutions used by real
estate professionals. Also known as Real Estate Tech, ReTech,
EsTech and RealTech, this sector also includes ConTech
(construction technology and CRETech (commercial real
estate and sometimes overlaps with the world of FinTech.
Real estate is indeed a rapidly changing field and today
benefits from a wave of innovations, largely influenced by
the digital revolution.

In 2021, with the support of the Principality, ESCP Business
School published the first annual barometer of the trends
that drive the world of real estate technology: the PropTech
Global Trends 2020. “The Real Estate Tech barometer is at the
intersection of two subjects essential for the Principality: real
estate, which is a crucial and strategic economic sector for
Monaco; and digital technology, which is one of the priority
vectors for present and future development. This barometer
is the first stone laid for Monaco’s ambition to become a
world centre for Real Estate Tech,» explains Frédéric Genta,
Monaco’s Chief Digital Transition Officer.

84.4 billion between 1999 and 2020
For its first edition, PropTech Global Trend 2020 analyses
the evolution of this sector from its emergence in the United
States in 1976 to today, a sector that raised 84.4 billion
between 1999 and 2020. 58% of the start-ups it includes are
American. “The main fundraising activities in the sector are
carried out by American, Chinese and Indian start-ups ...
Connected objects, home services or even long-term rentals
are the ones that are popular with investors today. In total,
this barometer analyses 1,724 companies, divided into 12
categories in 64 countries for 3,118 investors.

According to work carried out under the patronage of Robin
Rivaton, French investor and essayist specialising in the
subjects of smart cities, real estate and new technologies,
there are three key areas: «Access to information thanks, in
particular, to comprehensive data available more easily and at
lower cost; enhanced efficiency of transactions, for example
through platforms or virtual signature tools; and management
and control with laptops, or other increasingly sophisticated
technological devices, which today serve as a dashboard
for real estate management.» It remains to be seen whether
the Monégasque property market will succeed in this. In the
© peshkova meantime, the second PropTech barometer will be presented
in Monaco on 1 December to local property professionals.

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