The new digital application will capture with the help of artificial intelligence the actual market value or rental value
Another digital application has been made by the citizens in March, with the help of artificial intelligence, which will be for the purchase of real estate, reflecting their true value, and will also extend to rents.
This is the “Price Map”, which will record and analyze real estate prices, with the ultimate goal of correcting distortions and highlighting the actual market image, according to ERT reporter Costas Tsavalos. The new platform will derive data from transfer contracts, sales and rental ads, as well as from tax returns and the Land Registry.
Although the owners’ personal information will not appear, the system will record key features of the property (type, surface, age, area and price of sale or rental), offering for the first time a reliable and transparent picture of market prices throughout the country. In this way, citizens will gain access to updated data on the real values of real estate in each area of the country.
The information, depending on the access level, will be available to buyers, sellers and tenants, enabling them to compare the recorded prices of contracts, with those displayed in ads and real estate agencies. The platform will allow prices comparing by region, and specially designed software will facilitate the search for real real estate transaction prices throughout the country.
According to the design, platform access levels will be divided into three categories:
Free access: For citizens who wish to see the estimated value of their property, with the possibility of promoting current and timeless value.
Feasible: For users who want detailed information about specific areas, ideal for those planning purchases or sales.
Professional access: For big investors, banks and real estate agencies, providing detailed data and strategic decision -making information.
And on the rents
Reportedly, “Price Map” will also extend to rents in the second phase. With the extension of the application, citizens will be able to be informed of the rents in each area. At the same time, the new platform is not excluded from being a tool for taxing real estate, as the average sale price per municipal district could replace fair values.
