Investor confidence continues to ride high behind robust deal flow, increasing M&A expectations and strong portfolio performance, according to the Global PropTech Confidence Index from MetaProp, a proptech venture firm. The fallout from the failed WeWork Cos IPO, as well as the move into an election year, brings some uncertainty to the space, which may explain the drop from six months ago.

As the space begins to mature, proptech startups are hiring more employees and hitting elevated yearly revenue numbers. With startups continuing to flood the market, consolidation will remain high. An increasing sentiment in the ability to raise capital is met with concerns of bloated valuations from around the space.

“The Global PropTech Confidence Index shows continued strong investor interest in proptech,” says Christopher Beach, REBNY’s chief technology officer. “This report demonstrates that New York City remains a global hub for technology development and innovation