The Real estate industry that is built on tangibility and steadiness is being disrupted by technology and is set to continue at a rapidly increasing pace. Property technology combines technology advances in construction technology, sharing economy, smart homes and Financial technology. Megatrends like smart cities and globalisation are opening new opportunities and challenges for real estate incumbents. The vast amount of PropTech companies are bringing ready to implement solutions in the are of smart cities. Winners will be real estate incumbents that embrace an open innovation strategy and collaborate with Proptech companies to speed up the adoption of new technological solutions.