Real estate and AI

By: Bank Of Baroda
Thu Nov 12, 2020
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The real estate market in India is currently witnessing a steady rise in integration of technology and tech-enabled innovations that are further contributing to its growth. One of the most prominent developments is that of home automation, the perfect mix of technology and real estate. The real estate sector is leveraging IoT and AI to cater to the niche segment of smart homes given the appreciation and better resale value of such properties.

New York based Skyline AI, collects data points from a variety of sources and analyzes past transactions to help you get a sense of which neighborhoods are up-and-coming and which are heading for a potential downturn. By analyzing property owner behavior, this tool can also help commercial real estate investors find distressed properties, off-market deals and opportunities for value creation.

Similarly, Proportunity offers a similar service for those in the residential real estate industry. Operating in 50 markets, this tool gathers property value data, crime rates, transportation data, and school district ratings to fuel its automated valuation model and predict which properties and neighborhoods will give you the highest returns.

Enodo uses machine learning capabilities which can help you calculate market rents, find comparable properties and identify lucrative investment opportunities. For those considering renovations, it can also help you estimate the future value of any added amenities.

Meanwhile, those in the vacation rental industry may benefit from using Beyond Pricing. This tool compares data from a variety of sources, including Airbnb and VRBO, to help you find the best pricing for your vacation rental.

Like Proportunity, Lofty AI claims to help you identify the best investment opportunities in 40-plus markets. This tool is geared towards out-of-state investors and uses deep learning as well as alternative data points to predict early signs of gentrification.

As the aforementioned growth projections and trends suggest, the future of Indian real estate not only looks bright, but also stands to benefit from technological innovation within this space, especially during unpredictable times.

Credits : Akhil Handa

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