Around 83% of buyers worldwide look for homes online, according to a recent HSBC study. In the UK alone this figure rises to 93%, showing how our national property market is changing – and how we're happy to go with it. With so many proptech innovations hitting the market, it's time to look to the future and wonder: what will the world of property look like in five years time?
The rise of AI ‘chatbots’ has already given us algorithm-driven advisers. These can search databases and find property matches using the criteria provided in web chats. What’s more, online PAs like x.ai already schedule meetings and manage calendars for busy execs.
Over the next five years, we're likely to see these developments built into tech like Siri and Alexa to create multifaceted and voice-activated AI advisers. They’ll be your point of contact from the moment you decide to sell, to the day you pick up your new keys.
Not only will your new assistant be able to help you with mortgage arrangements and to book viewings, they could also organise bring your documents and new house keys to you. Delivery drones are already being tested by big players like Amazon’s Prime Air and Switzerland’s medical delivery drones. So expect smart property companies to jump in and use them to ferry keys from A to B.
Of course, with all these important documents and items flying through the air, it's important that future proptech addresses security issues. Facial recognition is being built into home security systems and used by some landlords to identify tenants. Using smartphone or laptop cameras to verify who people are is a small step for proptech, but with big future implications.
New tools like EYESPY Live now let groups attend virtual tours and ask questions via a chat window. In the future, we expect to see this process enhanced with virtual reality (VR) and augmented reality (AR).
You’ll be able to explore the space with the latest 3D, 360-degree images from your home. Software will detect what you're looking at and display helpful information about repairs, item itineraries and more. You’ll also be able to overlay your own design ideas and furnishings onto the images. That means no more return visits for measuring and planning!