The majority of European PropTechs decide on which market to enter based on 3 majour reasons: firstly, 23.3 % point out the size of the market; secondly, 20 % of PropTechs expand following their customer; and third,13.3 % cite market maturity and openness to tech innovation.

When talking about obstacles for successful market expansion, European PropTechs underline 2 majour bottlenecks. One being the different country legislation (66.95 %), and the second one being the issue of scaling the processes (46.95 %).

When we look at the development stage of all European PropTechs, it is evident that the most saturated life cycle stages are ‘Manage & Operate’ and ‘Market & Transact’. We also see that the PropTech companies there are the most mature in terms of their development stage.

The authors of the eBook observe, ‘Last year, we were estimating that the consolidation of the Proptech space – the moment where the construction & real estate sector are completely digitized, or modernized, and when there is not much space left for new solutions – would happen in the next 5 years, but this could now happen in the next 2 years, due to the COVID-19 effect. We set a growing number of M&A’s, and we are getting closer to this consolidation.’

There is no formal research in the CEE countries on how countries perform in PropTech. Only Bulgaria is an exception. PropTech Bulgaria annually publishes BULGARIA: PropTech Mapping Reports. See the 2nd edition issued in 2020 here. See also the Report on the impact of Covid-19 on PropTech in Bulgaria released by PropTech Bulgaria in 04/2020 here. Based on data provided by national associations, up to now the number of PropTech solutions in each of four EE countries is as follows:
Bulgaria – 106
Romania – 100
Slovakia – 112
Czechia – 50