Disrupting the real estate field, the French Ministry of Economy and Finance has just published the database of all real estate sales in the past five years in France. Publishing raw data from millions of transactions is one thing, but successfully extracting trends and information with high added value for real estate professionals is another.
PriceHubble therefore wanted to illustrate in a mesmerizing video how this raw data combined with cutting-edge technology sheds new light on the evolution of real estate prices.
The traditional actors' estimation method often consists of calculating the average of nearby transactions and then adjusting them up or down, depending on the specific characteristics of the property in question. However this approach has limits: the impact on the price of a balcony will be very different whether we are considering a building from the 1980s in Levallois or a Haussmann building in the 16th arrondissement of Paris.
Artificial intelligence makes it possible to analyze millions of data to find in all offers and past transactions the impact of each characteristic of a property for a specific address. With this new available data, PriceHubble's data scientists updated its artificial intelligence algorithms to offer a dynamic illustration of the evolution of real estate prices between 2014 and 2018 in Paris, Bordeaux, Rennes and Nantes.
Go watch our interactive video here.
For more information, do not hesitate to contact our Communication team here !
Last but not least, do not hesitate to also watch our price map for Zurich here.