1. Size of the market
London is home to more than 500 proptech companies, the highest number of any city in Europe. More than two fifths (42%) of technology experts think London is the leading city for proptech in Europe. London is a leading global real estate market and represents 25% of European proptech industries.
2. A hotbed of talent
From architecture to blockchain, construction and data science, the capital has one of the world’s most diverse talent pools for proptech. London’s universities offer eight master’s degree courses focusing on real estate and 31 master’s degrees teaching urban planning, sustainability and design.
3. Access to capital
London is Europe’s biggest centre for proptech investment, accounting for more than half the number of deals and capital invested, with specialist VC funds including Pi Labs, Fifth Wall, JLL Spark and Round Hill Ventures. Almost $500m of venture capital was invested into the UK’s proptech sector between 2013 to 2019, with UK companies receiving 69% of all European proptech investment in 2018.
London is where it’s at. The real estate companies are here. The tech companies are here. The VC investment is here. The real estate investment is here. The energy is here. The skills are here. The opportunity is here.Alex Edds
Director of Innovation, JLL UK
4. Sustainability and innovation
The UK is a leader in developing and exporting new construction standards, such as the Building Research Establishment Environmental Assessment Method (BREEAM) and Building Information Modelling (BIM).
The Greater London Authority’s (GLA) London Datastore is a free and open data-sharing portal, which provides access to more than 700 datasets. The GLA is also pursuing projects to improve infrastructure planning and promote coordination through better use of data, including the London Infrastructure Map (IMA), London’s Underground Asset Register (LUAR) and the automation of the London Development Database.
5. A strong community
London’s proptech ecosystem is growing rapidly, from specialist incubators and accelerators such as Geovation and HubHub, to leading industry events and associations including the UK PropTech Association. The city is the main client base for proptech companies – the real estate community. Major landlords and investors are based in London with many having their European head office in in the capital.