Analysis Of Proptech Development Policies In The United Kingdom And The Potential For Application In The Vietnam Real Estate Market

Abstract

In the context of technology reshaping the global real estate market, this paper focuses on analyzing PropTech development policies in the United Kingdom, one of the pioneering countries in building a real estate technology ecosystem, in order to draw relevant lessons for application in Vietnam. With over 800 PropTech companies, a total investment exceeding £1.65 billion in 2022, and a coherent policy framework, the UK has established a solid foundation based on four key pillars: (1) Open data, (2) Legal sandbox, (3) R&D funding, and (4) Triple Helix collaboration mechanisms. Through comparative analysis, the paper highlights that Vietnam possesses favorable conditions such as rapid urbanization, increasing demand for market modernization, and a strong national agenda for digital transformation. However, challenges remain in terms of the absence of a flexible legal framework and standardized real estate data. Therefore, the study proposes a localized, sector-prioritized pilot policy model as a foundational approach to develop PropTech in Vietnam in a systematic, transparent, and sustainable manner.