What is Real Estate Technology?

Legal Definition
Real Estate Technology or Property Technology, often referred to as ("RE Tech") or ("Proptech"), is an economic industry composed of companies which use technology to make real estate transactions more efficient. Real estate technology is a sub-category under financial technology as real estate is an asset class which represents a significant investment. Besides for own stay, there are investors who generate income and capital gains by investing in different categories of Real Estate properties over time - They are broadly residential, commercial and industrial. Historically used as a more tactical investment or for providing portfolio alpha, real estate has been used as part of a long-term core strategy due to increased market efficiency and increasing concerns about the future long-term variability of stock and bond returns. In fact, real estate is known for its ability to serve as a portfolio diversifier and inflation hedge.

Real Estate Technology generally refers to a group of startups trying to target every segment of the property chain, attempting to disrupt and improve how the current market players (developers, buyers, sellers, rentors, investors, and real estate professionals) design, construct, market, discover, transact and operate real estate.

In 2015, real estate tech reached record funding and deals levels, with more than $1.7 Billion deployed globally across more than 190 deals. This represents a 50% increase year-over-year and a whopping 821% increase in funding compared to 2011′s total. Deal activity also soared, growing 378% with respect to 2011′s total, and 12% year-over-year.
-- Wikipedia