Do keywords matter? Analyzing innovation in the real estate industry through bibliometrics

Purpose This paper contributes to the debate on innovation in real estate markets through a detailed analysis of the academic literature in the field. Design/methodology/approach Using bibliometric analysis of publications indexed in Scopus and Web of Science, this study examines the evolution of real estate innovation research, identifying key themes, active countries, leading institutions and top journals, providing a comprehensive overview of the field. Findings The study highlights the depth and diversity of innovations transforming the real estate market, from early digital tools such as Lotus to the rise of blockchain and cryptocurrencies. By framing this evolution within the PropTech paradigm, the paper traces the shift from PropTech 1.0 to PropTech 4.0. Research limitations/implications The paper provides empirical support for Shaw’s (2020) intuition regarding the inadequacy of the PropTech terminology in describing and studying the dynamics of innovation in the real estate industry. Originality/value This research empirically challenges the adequacy of the PropTech framework in capturing the complex and evolving nature of innovation in real estate, offering new insights into how the industry is being reshaped.