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Built World Trends New York City’s Startup Leaders Predict Will Define 2023

When people talk about the rise of interest rates, one industry is always included in the conversation: real estate.

The combination of rising interest rates, climate change, construction labor shortages, housing shortages, a paradigm shift in office use, and so many other factors has set the stage for what is likely to be a pivotal year in the real estate sector…and an interesting time for tech companies targeting it.

At Primary we’ve been investing in companies targeting the built world dating back to 2015 and have been thinking a lot about things that sit at the intersection of proptech, construction, fintech, and climate. With a deep focus on those spaces, we reached out to a number of close investor, founder, and operator friends to get their takes on what is to come in 2023. (Considering our willingness to wish Happy New Year late into January, we thought it would be appropriate to share out 2023 predictions at the deadline.)

Spoiler alert: OpCo/PropCo models are exciting, the housing shortage will open opportunities many investors are long on, the office is back, automation is inevitable, sub-verticals will finally get better SaaS solutions, and new technology will help drive a more equitable and sustainable built world.

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