Perspective of the stakeholders on proptech adoption in the Malaysian real estate industry

The advancement of technologies in the real estate industry also known as PropTech (Property Technology) has been building its momentum through several revolutions started from the middle 80’s which was identify as PropTech 1.0, PropTech 2.0, PropTech 3.0 and currently PropTech 4.0 which aligns with the Industry Revolution 4.0 (4IR) policy. PropTech 4.0 offers technological advancement for the real estate professionals including valuers, property managers, real estate agents, developers, property buyers and sellers by providing cutting edge software for day to day real estate operations. The rapid advancement of PropTech has the potential to revolutionize the real estate sector in Malaysia by improving operational efficiency, enhancing transparency, and providing better user- experiences for the stakeholders. Therefore, employers and stakeholders play an important roles in ensuring efficient and effective adoption of Proptech towards leveraging the real estate industry portfolio in Malaysia. This research aims to explore the industry player perspective on the PropTech potential and advancement in the Malaysia real estate industry. The objective of this research are i) To identify existing PropTech innovations in the real estate industry in Malaysia; ii) To assess the perceptions of the real estate industry stakeholders on the benefits and challenges of PropTech adoption; iii) To explore the future potential and collaboration of PropTech in reshaping the real estate industry in Malaysia. This research shall adopt a qualitative method approach by conducting an interview with the stakeholders. The expected outcome of this study will provide a thorough understanding on the current adoption of PropTech in the Malaysia real estate industry and its future potential that could leverage the real estate industry which aligns with the National Fourth Industrial Revolution (4IR) Policy set by the Malaysia government in 2021.