Proptech in France is not a new concept. Much like the UK, proptech in France has really picked up and new technologies are revolutionizing the way real estate businesses are done. Technology fuelled solutions are quickly solving localized problems intelligently and bringing about a change in the way real estate professionals work, and manage their property.
Proptech in France is a broad term that encompasses different types of innovative startups that are functioning in the proptech category from building designs to operations and even sale of a property. The newest and most novels in this category are startups that are modernizing how real estate agents manage their property and are even using technologies like 3D modeling and Internet Of Things (IoT) to make way for smarter sustainable buildings, completely changing the face of proptech in France.
French tech and startups
France has been able to build a vibrant tech culture over the past decade building on from a network of hardware manufacturers to a cohort of apps, video game developers, and streaming sites today. Innovative hardware manufacturers, cult apps, and startups that provide convenience for the average Frenchmen are on the rise. This growth clubbed with the growth of commercial real estate here, gives way for proptech in France. With plans for France to become a world metropolis by 2030 in full force — a vision for Paris to become a bonafide Smart City by 2050 — the ground is just right for proptech. There are 494 PropTech companies in operation across the country, with 216 of those based in Paris as per Unissu. As per 2018 data, 71% of PropTechs are offering solutions for residential sector, followed by 23% for commercial, and 6% for retail.
Proptech in France is finding innovative solutions to local problems. It is not just aimed towards buying and selling property but is also targeted towards building intelligent solutions for large real estate groups. These real estate groups face problems in the financial and administrative management of their assets, sale, and leasing of properties and even management of tenants and payments. Due to low adoption, it was tough for startups to enter this space, but now many companies are building for this solution. The turn-around time for deals and the efficiency of operational processes has increased due to new age solutions in proptech. Contributing to the growth are events like the annual MIPIM PropTech. This is fostering a greater interest and uptake of PropTech solutions by property stalwarts.
One of the crucial aspects in any real estate deal is visiting the property or premises, and this process definitely needed some re-imagination. Building Information Modelling (BIM) comes to the rescue here with giving them a lease of 3D life, real time! The startups solving this problem generally include work in the augmented reality (AR) and virtual reality (VR) space.
The problems and solutions for real estate in France also include thinking about sustainable building, energy efficiency, intelligent city planning, reducing wastage, and even thinking about integrating fintech with proptech. These overlapping domains and the work of technology to seamlessly integrate both fields are what sets apart the French proptech work from others.
To understand the full movement of proptech in France or the proptech scenario of here, one should see the different verticals that are currently functioning to change the realty space. Technologies in each of these realms are together making a bright future for proptech in France.
The top site in France for real estate discovering is MeilleursAgents, which is a platform that allows people who want to sell their property to connect with real estate agencies that best fit their needs and requirements. The website also offers an online tool to estimate property prices and various mapping of rental prices including a map showing the price per square meter. Other than real estate listings that enable discovering, buying and selling of properties, France is moving forward in the proptech games by working in different sectors and solving different problems. In France, some startups are incorporating AR and 3D modeling for virtual tours and experiencing.
ThirdStudio offers augmented reality visits for indoor and outdoor architectures. Not just for the consumer side, Vectuel is also using these technologies for large-scale projects — like for making the Canop’e des Halles understandable to everyone using 3D modeling.
The other interesting startups of proptech in France offer varied solutions. Meero is a startup that specializes in producing photos, videos and 360 panorama shots for real estate agents. It claims to have claims over 9,000 customers in the less than 18 months since its launch. Air Support by Parrot helps real estate and construction professionals with services related to aerial imagery by drones. FundImmo allows individuals to directly invest in development projects, and give real estate developers an alternative to traditional capital markets for funding.
Not just this, proptech in France is also the front-runner in some new technologies and some companies are even enabling 3D printing technologies for building constructions! France based Constructions3D is using local materials and limits waste to give a faster, cheaper and greener 3D printed building solution. So are we soon going to see 3D printed buildings? Probably yes.
Proptech in France is steps ahead of its European counterparts as a large number of companies are also working to build greener and more sustainable building solutions. Using technology to make buildings more energy efficient and smarter, keeping in mind environmental issues is sure to change our future. Some of the interesting startups in this sector are:
ManoMano is more than just a vertical marketplace: it is the website of a community of Home and DIY Lovers, allowing this community to exchange tips and advice on their DIY or gardening projects. In addition to this expert advice, ManoMano puts you in touch with the helping hand who will help you achieve your DIY projects. “SuperMano” is the name of this collaborative website putting you in touch with your local MacGyver.
FINALCAD is a global leader in digital transformation for Building, Infrastructure, and Energy. It offers a flexible software that can be adapted to different clients and industries. One can use it for various projects like buildings, infrastructure, maintenance, etc.
Created in 2016 by the two entrepreneurs Simon Primack and Henri Pagnon, Proprioo upsets the codes of real estate agencies and proposes an innovative approach. By relying on technological and high-performance tools, our consultants are able to dedicate themselves to the accompaniment of their customers thus offering them a quality experience. Thanks to the efficiency of our processes, we also offer a single commission rate of 1.99% to our customers.
Sevenhugs builds solutions that simplify the increasingly complex digital home. Sevenhugs has built a Unified Home Experience Platform that dramatically simplifies the way we interact with our entertainment, smart home and on-demand services. Smart Remote by Sevenhugs makes everything we care about accessible and shareable throughout the household through a single AI powered and intuitive interface—one that leverages display, touch, voice and contextual awareness.
Solairedirect is an integrated solar power provider, present on the photovoltaic value chain from module production to decentralized power network operation. The company develops and operates infrastructures of all sizes (rooftop and ground-mounted) with turnkey service offers (design and engineering, installation and construction, financing, operation and maintenance) as part of carbon footprint community projects.
Way ahead for proptech in France
Real Estate Tech in France or proptech is on the verge of becoming a revolution in France as many large corporates and commercial property groups are including it in their work too. Innovation and forward design thinking are promoted and its high adoption is sure a positive sign.
Cannes, France is also been the host for much talked about MIPIM, the world’s leading international real estate exhibition, conference, and networking event. Spread over 5 days, MIPIM hosts more than 23,000 real estate professionals. among whom many are the proptech innovators of tomorrow including the eight finalists of the 2017 MIPIM Startup Competition. This convention says a lot about the focus that France puts on proptech and how it is moving forward.