Property portal Bayut said it has launched TruValue, the first fully automated price valuation tool in UAE, in bid to provide easily accessible estimated value of residential properties across the emirates.
Available on both desktop and mobile versions of Bayut, TruValue uses advanced machine learning algorithms to calculate the fair market value of all residential properties for rent or sale in the UAE, said the Emirati property portal in a statement.
To understand the TruValue of a property on Bayut, users simply have to enter the necessary details such as the location, number of bedrooms and bathrooms, and average size to find out whether the advertised property offers Great, Good or Fair Value and which properties may be considered as Overvalued or Highly Overvalued.
With the help of this information, buyers and tenants can learn the fair market value of their desired property, helping them determine if they’re getting the best value for money for the units they’re interested in. TruValue’s ratings can also help property seekers negotiate a better deal for their next property purchase or rental home, it stated.
Sellers and landlords can also use Bayut’s property valuation calculator to get an initial idea of their home’s worth in the current market. This can help them to set the right asking price and sell or lease their property in a faster, more efficient manner.
Over the last few years Bayut has launched a series of advanced products and solutions to help property seekers address the various issues they encounter. This includes the region’s only property authentication solution TruCheck and standardised Floor Plans of over 45,000 units in 2D, 3D and 3D Live formats.
On the new launch, CEO Haider Ali Khan said: "Our main focus has always been to create a simple and comprehensive user journey for all our clients and users. We understand that in such a rapidly changing market, it’s important to rely on data-backed information when making a decision about the properties you want to buy, rent, sell or lease out."
"By launching TruValue, we hope property seekers across the UAE can benefit from a more informed browsing experience and really take charge of the decision making process," he added.-TradeArabia News Service