From housekeeping to AI: Hong Kong start-up Butler turns profit with tech pivot

Butler’s revenue tripled in 2024, and the company achieved profitability in the fourth quarter, co-founder Angues Chan said in a recent interview. The AI platform, which handles tasks including managing tenant and resident inquiries and processing updates from maintenance workers, was used in over 65 housing estates last year, he said.

The number of property estates served by Butler is expected to triple this year, rising from fewer than 10 in 2022, when the platform was launched, according to Chan.

AI-enabled solutions for real estate operations help Hong Kong’s property managers reduce costs amid a prolonged market downturn, according to the founders.

Hong Kong’s lived-in home prices fell over 7 per cent last year, following a 15 per cent drop in 2023 and a 7 per cent loss in 2022, according to the latest data from the Rating and Valuation Department. The cumulative drop of 27 per cent marked the second-longest property slump since official records began in 1993.

“The real estate industry in Hong Kong has been entitled for so long; now that things are finally not as well, it has to change,” Chan said.