Shockingly, almost 40% of companies of the companies saw their revenue drop by 40% or more, and only about 12% are experiencing significant growth. The impact is uneven between different sectors and regions, as we show below.’
They further list the drop per tech sectors, and specify a decrease of -34% change in revenue for Property & Construction Technologies. For more information, see Figure ‘Change in Revenue since the Beginning of the Crisis by Subsector’ in the Appendix.
Among Bulgarian PropTechs 61.5 % experienced a decline in revenue, and 38.5 % reported no change or an increase in demand. Bulgarian PropTech companies which were hit the hardest are those on the overlap of Tourism Tech and ConTech. The former has still not recovered, while the latter recovered by the end of 2020.
► According to an online poll conducted by Nordic PropTech Initiative during their webinar on 06.04.2020 г., 70 % of PropTechs state that the demand for their service has either not changed, or has increased; some even hardly meet the need for their services.
► According to the results of a second poll completed by PropTech Lab (Belgium) as part of their webinar on 09.04.2020 г. 80.85 % of PropTechs declare the same.
► 38.5 % are the Bulgarian PropTechs that assert the same. 53.8 % specify that there is a decrease in the demand for their services as a result of the corona crisis.
Many analysts apply the model ‘The Hammer & the Dance’ to scheme the development of the C-crisis. The lockdowns exert the hammer effect on business, followed by wavering recovery processes (the Dance) after each lockdown…