Venture capital investment in proptech surged to an all-time high of $15.1 billion in 2024, representing a notable 32.5% year-over-year increase, according to The Center for Real Estate Technology & Innovation (CRETI)’s “2024 Proptech Venture Capital Report.” The document explores the year’s evolving investment trends, market dynamics and the sector’s future trajectory, underlining a phase of strategic realignment and resilience in the property technology (proptech) landscape.
Fueled by significant investments in the construction, multifamily and residential sectors, the figure reflects growing investor confidence in the sector’s ability to address critical challenges across real estate verticals and tech categories, signaling a paradigm shift from experimentation to adoption, CRETI said.
“The surge in proptech investment in 2024 reflects the industry’s readiness to embrace innovation at an unprecedented scale,” said Ashkan Zandieh, managing director at CRETI. “Technologies like artificial intelligence, automation and alternative finance are no longer peripheral; they’re central to solving real estate’s most pressing challenges.”
The construction tech category led with $4.5 billion as developers embraced tools for efficiency, sustainability and safety. Meanwhile, multifamily and residential tech collectively captured over $7.6 billion, reflecting a focus on enhancing tenant experiences and operational scalability.
“Proptech is no longer just about the future; it’s about the now,” said Ajey Kaushal, principal at JLL Spark. Investors and operators are seeing clear value in leveraging technology to drive efficiency, sustainability and improved tenant experiences.”
Several transformative themes defined 2024. Artificial intelligence and automation emerged as dominant forces, with companies leveraging machine learning to deliver predictive maintenance, optimize workflows and improve decision-making. Sustainability also attracted significant attention, as investors backed innovations in green building practices and energy efficiency to meet environmental and regulatory demands.
