Property Technology, or "PropTech", is a term that encompasses the application of information technology and platform economics to real estate markets. PropTech has proliferated over the last 35 years initially due to the development of mainframe and personal computers, tools such as Lotus and Excel, more comprehensive software solutions for architecting, engineering and construction, and finally the Internet era and online marketplaces. Recent breakthroughs in technologies spanning cloud computing, machine learning, smartphones, and improved connectivity capabilities are spurring further activity in the PropTech space. Aims of PropTech can include reducing overhead, improving transactions, and optimising property management activities. Such technologies relate to digital dashboards, smart home technology, tech-enabled brokerages, residential and commercial lending, virtual viewing for online portals, and analysing and extracting data from documentation and/or imagery.