Singapore’s property technology (proptech) segment is reshaping the real estate market with technological advancements and innovations. It is helping fulfil the digital transformation goal adopted in Southeast Asia during the pandemic, which sought to incorporate vital digital solutions into every industry. The segment is helping agents, stakeholders, and consumers to buy, sell, or rent property seamlessly.

According to Statista Research, the real estate market in Singapore is on course to reach USD 2.04 trillion by 2024. Proptech startups deliver benefits like access to real-time data, transparent and secure transactions, and convenient and efficient solutions, such as virtual home viewing. Furthermore, it is democratising access for people in rural or underdeveloped areas.

Here are 6 must-have proptech apps for owners and homebuyers in Southeast Asia

With sustainability being a key issue in the region, tech in real estate can create user- and eco-friendly solutions like smart lighting to address environmental challenges. Homeowners can use these technologies to reduce wastage and manage properties, reducing their carbon footprint.

Below is a closer look at five top startups making their mark in Singapore:

Kucing

Real estate app Kucing enables Singaporeans to connect with homeowners and buyers, avoiding the need for an agent to help with buying, renting, or selling. Mathieu Goarant and Guillaume Garagnon, who have decade-long experience in the property industry, founded the company. In August 2023, the company launched its no-agent, peer-to-peer (P2P) dedicated residential property platform.

The Kucing app is available on the Google Play and Apple stores and offers a secure platform with free listings, in-app messaging, 3D map searches, and vetted lawyers to finalise transactions. Other uses include scheduling home visits, reaching a vast network of potential buyers and sellers, exploring past transactions, and bidding for property in real time through the app. 

Overall, Kucing aims to simplify housing searches, make the industry accessible, and empower users to meet their real estate goals.

Ohmyhome

Proptech startup Ohmyhome is a one-stop platform founded in 2016 by sisters Rhonda and Race Wong, the former of whom is the CEO. The company operates in Singapore, Malaysia, and the Philippines and helps simplify housing transactions, making them more efficient and cost-friendly. It values giving everyone equal access to real estate services and finding safe spaces for families to flourish.

Since its launch, Ohmyhome has handled over 13,000 properties and saved its customers USD 45 million in commissions. Recently, the company acquired a real estate management platform, Simply Sakal PTE Ltd., and renamed it Ohmyhome Property Management. It was also able to complete a post-IPO equity funding of USD 4.8 million. 

Propseller

Property agent service Propseller was founded in 2018 by Adrien Jorge. It provides a team of specialists in real estate, marketing, analysis, and photography, among other valuable services, to help clients buy, sell, or rent. It ensures its service is efficient, high-quality and at a lower cost than its rivals—charging a 1% commission compared to the traditional 2% fee. 

Propseller is transparent in its pricing, has no hidden fees, and only works with top-notch real estate agents. Moreover, it analyses 20+ data points to recommend the right agent for the client. In August 2022, it raised USD 12 million from Vertex Ventures, Iterative and Rapzo Capital, Jani Rautiainen, Marta Higuera, and others.

Hometrust

Review and interior design website Hometrust has a trusted community that provides first-hand, authentic, unbiased, family-friendly, and relevant homeownership reviews. It was founded in 2017 and provides advice and feedback based on customer information. Some of its content includes ideas for lighting, flooring, living room, bedroom, interior design styles, and more. 

Customers can access reviewed company listings to find an ideal interior designer to renovate their homes. Hometrust does not have listed funding rounds.

REALly

Business-to-business (B2B) marketplace REALly is an integrated and data-driven platform that enables automated sourcing and procurement for real estate professionals. It was founded in 2019 by Joerg Zeugner and offers Software-as-a-Service (SaaS) solutions to segments like residential, retail, food and beverage (F&B), and others. Additionally, it has more than 6,000 trusted vendors across different industries.

In 2019, it raised USD 360,000 in Seed Funding from Huntington Partners to enhance its application and expand into markets in Indonesia and Malaysia. 

Even though proptech has many benefits, it also has several challenges, such as customers having to share their data when signing up to their platforms. Unfortunately, due to multiple cybersecurity risks plaguing Southeast Asia, providing personal and financial details is not advisable because they may be open to exploitation.

Other issues, such as the infrastructure being less developed in some areas and the cost of adopting technology being prohibitive unless there are alternative solutions, also inhibit the growth of the sector.

Regardless, proptech startups are likely to do well in years to come because of the young, tech-savvy generation growing in Singapore. Overall, if the industry can maintain a steady supply of funding, it may be able to accomplish a lot in real estate.