Drooms survey reveals need for increasing digitization across European property markets

Six months on from the lockdown instigated in March 2020 due to the onset of COVID-19, Drooms has surveyed approximately 540 institutional real estate investors in Europe to examine how the pandemic affected the adoption of digitization within the European property market.

At 41 percent, the most common response was that the European property market had not been significantly influenced by digitization over the past six months, while only 24 percent believe digitization has had a major impact on the sector.

Alexandre Grellier, CEO of Drooms, explained, “The coronavirus pandemic has had an impact on the digitization of the commercial property market, albeit not to the expected extent, given that the industry is still performing well, despite the challenging environment. Our study highlights the need for executives to drive forward the implementation of digital solutions to achieve greater efficiencies, lower costs and higher productivity. We would recommend firms to