What does Asia Pacific’s proptech funding dip mean for real estate?

Proptech funding in the Asia Pacific region declined last year, a sign of general caution among investors toward the tech industry after a years-long boom.  Proptech start-ups raised US$625.9 million in 2019, compared to a record US$1 billion in 2018, according to data from tech media company Tech in Asia. The decline comes as investors take a step back after years of growth in a commercial real estate industry that has come to embrace technologies like artificial intelligence and augmented reality. But the shrinking numbers don’t necessarily give the full picture, says Jordan Kostelac, director of Proptech, Asia Pacific, JLL.