In April 2023, Global X Research surveyed 1,079 individuals in the United States regarding their priorities and views on the housing sector and how digitization plays a role in it. Topics ranged from thoughts on real estate market prices and its implications for younger generations, to importance of technological supplements throughout the process of buy/renting a home and views on short-term rentals.
Key Takeaways
- Nearly 90% of respondents believe that average U.S. home prices increased at least 10% between 2019-2022.
- Around 50% of respondents believe they increased more than 30% between 2019-2022.
- Over 60% of surveyed individuals believe young consumers will absolutely have to rent longer due to high housing prices.
- Although 32% of homeowners/renters still opt for real estate agents, 28% look to the internet/apps.
- The next most popular streams are other methods (14%) and word-of-mouth (13%).
- For three-fifths of survey respondents, technologically equipped homes are at least somewhat important.
- Nearly half of respondents believe technology could replace agents in buying and selling properties.
- Of those who responded yes, 16% said it will take place in the near future and 32% said it will happen eventually.
- About one-fifth of respondents would be comfortable with buying/renting a home completely digitally. Over one-fourth of respondents would consider it.
- 59% of homeowners/renters rank security-related property technology solutions as top priority, followed by 13% selecting increased energy efficiency.
- Over one-third of surveyed individuals rented a short-term vacation property in the last 24 months.
- Respondents are not opinionated on whether they stay in a hotel or short-term rental, but marginally prefer hotels.
- The primary reason consumers would choose a short-term rental property over hotels is pricing (62%), followed by flexibility with amenities (44%) and accommodations for larger groups (40%).
Click here to download the Global X ETFs April 2023 Consumer Pulse Survey: The State of PropTech Adoption.
Originally Posted April 26th, 2023, GlobalX
PHOTO CREDIT:https://www.shutterstock.com/g/k_nopparat
Via SHUTTERSTOCK
Disclosure
Risk Information
Investing involves risk, including the possible loss of principal. PropTech companies are primarily exposed to the risks specific to the technology and real estate markets. Narrowly focused investments will be more susceptible to factors affecting that sector and subject to more volatility. Technology companies may be subject to rapid changes in technology, intense competition, rapid obsolescence of products and services, loss of intellectual property protections, evolving industry standards and frequent new product productions, and changes in business cycles and government regulation. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. PTEC is non-diversified.
Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Fund’s summary or full prospectus, which may be obtained by calling 1.888.493.8631, or by visiting globalxetfs.com. Please read the prospectus carefully before investing.
Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments.
The information contained in this material is for general informational purposes only and is not intended to be individualized or personalized investment advice. Please consult a financial advisor or tax professional for more information regarding your investment and/or tax situation.
No content contained in these materials or any part thereof (“Content”) may be modified, reverse engineered, reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of Global X. The Content shall not be used for any unlawful or unauthorized purposes. Global X does not guarantee the accuracy, completeness, timeliness or availability of the Content and is not responsible for any errors or omissions, regardless of the cause, for the results obtained from the use of the Content.
THE CONTENT IS PROVIDED ON AN “AS IS” BASIS. GLOBAL X AND ITS AFFILIATES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OF THE CONTENT.
In no event shall Global X or its affiliates be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the Content even if advised of the possibility of such damages.”
