Planning to buy or sell your property? This website claims it can accurately predict how much a home will fetch in the market if it was sold today.
Created by a team of data scientists in Singapore with backgrounds from Stanford University, UC Berkeley and Singapore Management University, UrbanZoom makes use of artificial intelligence algorithms to analyze millions of data points in real-time to derive the price results.
UrbanZoom doesn’t just sound good on paper – they actually have an impressive track record already, producing accurate residential price predictions with an overall median error of less than 3%.
There are, however, limitations to the prediction system. UrbanZoom cannot predict the prices of new homes for obvious reasons and is currently limited to HDB and condominium properties.
For buyers/owners or property agents researching on a property, UrbanZoom might be a promising new tool to look out for when it comes to pricing and valuations.Learn more from UrbanZoom