Big Data + AI applied to Real Estate valuations
Reporte Inmobiliario has responded in the past two months to over 68,000 queries related to the residential market through its geolocation tool, market analytics, and housing valuation engine, for up to date Market Valuations.
The tools are available online on the Reporte Inmobiliario website free to individuals and provide useful information needed when selling, buying, renting or investing in a home.
“These tools were launched a little less than a year ago, using the AI technology available today they have been increasingly strengthened over time. They provide information that to date was extremely expensive to obtain and is now available to anyone on the Reporte Inmobiliario website “, explains his CTO Andres Avila.
On the one hand, Market analytics is the first geolocation tool in Argentina that offers statistical data about the residential properties market. Supported by the Big Data real estate, it combines its own data and different sources to locate information of interest on a digital map.
The tool offers average price m2 data both for properties on sale or for rent, value square meter, the number of properties on offer for each residential typology, socio-demographic characteristics of the environment, as well as information of the stock and lots with permits of works in the region, among other parameters.
The information is available at the census radio level allowing to identify small sectors or micro markets within the neighbourhoods. In this way, any citizen will be able to solve questions such as which zones can be rented or bought according to their income, if it is a good time to invest or the typology of the households in a specific zone, among other aspects.
In this first phase, it presents information from Buenos Aires, Gran Buenos Aires, Mar del Plata, La Plata, Córdoba and Rosario which will be extended to other locations in the coming months.
Reporte Inmobiliario also has a free property valuation engine for private users, Market Valuation. Based on big data real estate and algorithms of machine learning, intelligently learns about the evolution of the market and establishes the price of any house, through its direction.
It is a tool of valuation referent in precision, that improves other similar applications since it also provides sociodemographic information, of a typology for households and data on the stock of houses for sale in the zone.
“All information is available via APIs to integrate it into other systems and expand its reach. 90% of our customers use it on a regular basis and began to become an essential tool for their daily work, “ explains Avila.
Source: Reporte Inmobiliario
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