PropTech 3.0: Is it a threat or a promise?


Dr William Cheung
Faculty of Business
Project code: BUS004

"PropTech 3.0" (Baum, 2017) describes a set of cross-industry technologies that have been changing the ways we manage, analyse, search, transact, construct and market properties. Manifestly, the Internet of Things (IoT), big data analytics, machine learning, blockchain contracts, 3D printing, virtual reality and all other technologically innovative products have been gearing up to embrace a new wave of "disruptive innovation". But what exactly is "PropTech"? Why has it been such a trendy buzzword lately? What does "PropTech" mean for property professionals? Who will be affected? And what are the issues at stake? This pilot project will examine the implications of "PropTech" on various property market stakeholders. Specifically, is "PropTech" a threat or a promise to the industry? Does the "technology mudslide hypothesis" (Christensen, 1997) apply to the property industry? This project would suit a business student who is good at writing and interested in the property industry.