Digital technology is changing the way we plan, build, maintain and use our social and economic infrastructure. Property technology refers to all aspects of innovation and how it impacts the built environment. This includes software, hardware, materials or manufacturing. 'PropTech' is a general all-encompassing term, but also refers to the small start-ups that are using technology to address market problems.
For example, Building Information Modelling (BIM) allows for more cost effective and efficient processes throughout the duration of a construction project but also promises to transform many sectors across the market; however BIM is just one technology that is set to revolutionise the market and maximise efficiency.