Integrating Emerging Technologies in Real Property Management Practice in Osogbo, Nigeria

Abstract

As a critical component of the national economies, the need for an efficient and effective
property management cannot be overemphasized. The real estate sector which property
management is part of, has significantly contributed and still contributing to the national growth
in terms of employment, economic growth and investment development. The current global
transformational changes in the sector due to the evolving technologies has further exposes the
need for the integration and the likely potentials of the emerging technologies to revolutionizes
the country’s real estate sub-sector that could engender transparency, and operational efficiency
leading to customer satisfaction and national growth. Hence, this study investigates the
perceptions of property managers on the readiness of the sub-sector to embrace PropTech and
propose strategies for its successful integration in Osogbo property market, Osun state, Nigeria.
As a perceptional study, inferences were drawn from both the existing literatures and the
perceptions of the respondents. It highlights the transformative impact of PropTech on property
management practices and its applicability in the state. Findings revealed its nascent adoption in
the state with significant challenges around lack of expertise, infrastructural deficits, high
implementation costs among others. The research concluded that despite these barriers,
opportunities exist in the form of government initiatives, and the unabated national urbanization
rate. It underscores the need for collaborative efforts among stakeholders to foster a technology-
driven real estate sector that enhances service delivery and promotes sustainable growth.