All analytical calculations in the Report are as per 01.02.2024. Release date of the Report – 01.03.2024.

The reason to undertake releasing this thourough research is to see clearly with a plain eye how zooming-out, Europe stands out on the global PropTech map as a continent, and zooming-in what the PropTech profile of 35 European countries is.

The ‘2024 Report on European PropTech: 35 Countries in Numbers’ you hold in your hands or read on your electronic device, is based on ca. 5,000 European PropTechs, or 94.84% of the overall number of PropTech companies in Europe, which by 01.02.2024 is ca. 5,200.

This 2024 edition of the only pan-European propTech Report –  ‘2024 European PropTech Report: 35 Countries in Numbers’ should stand as a reference point of a highly-validated market information for anyone who is interested in European PropTech. See the previous two annual editions – 2022 | 2023 – of the Report here.

Above all, this is the FIRST EVER REPORT on European PropTech which features all 35 European countries in detail. There is no equivalent.

2024 edition of the EUROPEAN PropTech Report: 35 Countries in Numbers is based on the largest existing database of European-origin PropTechs which has been built and owned by PropTech Bulgaria. 2024 EUROPEAN PropTech Report: 35 Countries in Numbers, 3^rd annual edition, records on 3 more European countries, as some of our 50+ sources recount all three of them already have one PropTech solution registered and operating. The three new entries are: Belarus, Bosnia & Herzegovina, Malta.

The calculations in the first edition of the Report, released in 2022, are based on 86.93% of all European PropTech companies. This indicator for the second edition in 2023 raises up to 92.22% of all existing European-origin PropTechs. This current edition – the 2024 one, our database includes 94.84% of all European-origin PropTechs.

We have reviewed over 9 500 companies which have somehow been classified as ‘PropTech’, coming from our continual review of 55+ sources. However, we have checked each and every company as per 30 criteria in order to categorise it in our PropTech database. Hence, up to now, 2024, 1 March, our core database comprises of ca. 5,000 European PropTech companies from 35 European countries, and all these companies meet this set of 30 criteria. As marked above, this number of European PropTechs equals to 94.84% of all PropTech companies originating in Europe. Our extended database amounts to ca. 6,500 companies which are PropTech or related to PropTech in Europe.

JLL in their report released in Aug. 2021 state that the Global number of PropTechs nears 8 000, which is no surprise, having in mind that based on the presented figures on our map, the cummulative number exceeds their estimations and reaches up to 10,173 (See in the Report all 102 countries which are considered in this cummulative calculation.)

There are 9,090 PropTechs globally according to Unissu by 01.01.2024. According to our database there are 10,173 PropTechs worldwide.

Each year, our team processes several thousand companies and selects those that meet the criteria to be classified as PropTech. Annually we examine 50+ sources of information in order to add the new PropTech entries per country. Additionally, we check each PropTech if it still operates in a number of countries with high PropTech death rate, such as Switzerland.

The Report contains a PropTech profile per each of the 35 European countries arranged in an alphabetical order. The profile format is unified, thus making it easy for anyone to get an idea about a country and compare countries, as well as the 6 European geographic regions (CSEE, DACH, Nordics, South Europe, BeNeLux & France, UK & Ireland).

 This Report is build on the understanding that each country has its own specific PropTech profile, thus making it strong in some areas; depicting the free market niches; showcasing the outstanding PropTech solution types one can find in this country.

We believe that such information will facilitates tremendously the crossborder Business Development opportunities for PropTechs in Europe.

The country profile information contains:

• Number of all PropTechs in the country
• Number of PropTechs analysed in this Report
• PropTech categorisation by the 5 life-cycle stages of PropTech, namely, (1) Invest & Finance; (2) Design & Build; (3) Market & Transact; (4) Manage & Operate; (6) Live & Work
• PropTech categorisation per asset type: Residential, Commercial, Industrial, Infrastructure, mixed. We have also depicted the number of City-level PropTechs which facilitate the Smart City development.
• PropTech categorisation per business model customers: B2B, B2C, mixed.
• Outstanding types of PropTech solutions in the country.
• Some outstanding specifics of the country, e.g. if it is the generator of Energy Tech solutions, or crowdfunding, or all-round services for Residential.

There is an evident decrease in ‘Invest & Finance’ PropTechs: 6.76% in our 2023 Report vs 6.44% in 2024 Report. We detected the bankruptcy in 2023 of a considerable number of such solutions in Switzerland. Hence, such a change is of no surprise.

There is a big increase in the ‘Live & Work’ life-cycle stage. It held 17.59% in our 2023 Report. Now it holds 18.87 % share.

The differences in the other life-cycle stages are minor.

The most PropTech solutions serve the Residential asset class. This is particularly true in countries where housing affordability is very low due to high prices per sqm of space, and high demand for properties in these countries. 

At the same time, post 2020, we see a noticeable growth in PropTech solutions which serve mixed asset class – Residential & Commercial. You can see our observations for 2023 in the following article Commercial Real Estate: Trends to Watch from 2020 to 2023 and Beyond.

AUSTRIA [DACH Region]

BELARUS [CSEE Region]

BELGIUM [BeNeLux Region]

BOSNIA/HERCEGOVINA [CSEE Region]

BULGARIA [CSEE Region]

CROATIA [CSEE Region]

CZECH REPUBLIC [CSEE Region]

DENMARK [NORDICS Region]

ESTONIA [NORDICS Region]

FINLAND [NORDICS Region]

FRANCE [BeNeLux & France Region]

GERMANY [DACH Region]

HUNGARY [CSEE Region]

ICELAND [NORDICS Region]

IRELAND [UK & Ireland Region]

ITALY [SOUTH EUROPEAN Region]

LATVIA [NORDICS Region]

ENERGY TECH

WATER MNGT PROPTECHS

ESG PROPTECHS

AECO PROPTECHS [FOR ARCHITECTS, CIVIL ENGINEERS]

LITHUANIA [NORDICS Region]

LUXEMBURG [BeNeLux Region]

MALTA [SOUTH EUROPEAN Region]

NETHERLANDS [BeNeLux Region]

NORWAY [NORDICS Region]

POLAND [CSEE Region]

PORTUGAL [SOUTH EUROPEAN Region]

ROMANIA [CSEE Region]

RUSSIA [CSEE Region]

SERBIA [CSEE Region]

SLOVAKIA [CSEE Region]

SLOVENIA [CSEE Region]

SPAIN [SOUTH EUROPEAN Region]

SWEDEN [NORDICS Region]

SWITZERLAND [DACH Region]

UK [UK & Ireland Region]

UKRAINE [CSEE Region]

VISUALISATION PROPTECHS

PROPTECHS FOR THE REAL ESTATE AGENCIES

RETAIL TECH [FOR THE RETAIL ASSET CLASS]

PROPTECHS FOR THE INDUSTRIAL ASSET CLASS

Europe is the most tech developed continent in the world, and this holds also true in PropTech. It is the origin continent for 50,49 % of global PropTechs. Second comes North America with 25.98%, and third is Asia & Middle East & Asia Pacific with 12.44 % of all PropTechs worldwide. The Report also sets it very clear how all continents stand in terms of PropTech.

The percentage share of Central-Southeast Europe grows. This is the region in Europe that  records the highest growth rate in newly established PropTech solutions. In 2022, CSEE percentage share was 15.70% and this year it has already reached up at 17.48% share, ranking as the second region with the most PropTech solutions, following DACH Region.

The marked bottlenecks in the Western VC funding model that PropTech companies in Western Europe and the US have encountered in 2020 and 2023 lead straight to high mortality among technology solutions, on one side, and a lower rate of new establishments, on the other. The positive side is this is a trend typical for the Western world. In Central-Southeast Europe, PropTech companies are resilient, being much more resistant to such a trend, because they depend for their existence on their own revenues rather than external funding.