Digitization is progressing at different rates among institutional real estate investors in Europe, with the sector currently divided into two camps, reported Union Investment.
The larger group, comprising 63 percent of companies, already have made significant advances in this area, while players in the smaller group (36 percent) are still working on initial concepts or have not even begun to incorporate digitization into their business strategies. Those are the findings of a survey of 150 property investors in Germany, France and the United Kingdom.
The digital elite is small
As the survey shows, the group of innovation leaders in the real estate sector is comparatively small. Only around a fifth of companies have implemented a substantial part of their digitization strategy. Most of the respondents (41 percent) see themselves at an intermediate stage — initial concepts and prototypes have been implemented, but there is still a long way to go
