NEW YORK CITY—The Q4 2017 Global PropTech Confidence Index, presented by MetaProp NYC in partnership with the Real Estate Board of New York and RICS, charts an environment of increasing growth and participation, with survey participation up 175% from six months ago, and at the same displays the markers of an increasingly crowded field. Eighty-six percent of PropTech startups surveyed expect their space to be more competitive in 2018, compared to 2017, up from 76% in the second quarter of this year and 63% a year ago.

Along the same lines, 76% of investors are expecting to see more pitches from PropTech companies next year than they saw this year, up from 62% in Q2. And while 49% of investors expect to make more PropTech investments in the coming year, compared to just 12% that plan on making fewer such investments, signs point to them becoming more selective.

“I will be more cautious about whether any new investment opportunities are really game changers or just good ideas,” says an investor quoted in the report. A PropTech CEO expands on this viewpoint: “2017 saw the PropTech space come into its own as a space to be reckoned with and invested in. The space is suddenly overflowing with disruptive startups competing for attention.