Value of Space, Fully Automated Real Estate Price Analysis Service Launched

Value of Space mobile screen

[Asia Economy Reporter Donghyun Choi] A real estate price analysis platform that allows users to check land, office, commercial, and residential real estate prices with a single click has been launched.

According to industry sources on the 5th, Gongganui Gachi, a PropTech company combining real estate and technology, has developed a cloud-based real estate price analysis platform called 'Gongganui Gachi.' It began a beta service containing real estate price information for Gangnam-gu, Seoul, starting the day before.

Gongganui Gachi provides a service that, based on a vast database and a fully automated algorithm, allows users to understand the current estimated price, past transaction prices, and status of the property with just one click. It offers access to information that is usually difficult to obtain, such as the building's market capitalization, floor-by-floor and unit-by-unit usage area, and similar transaction cases. It also analyzes and provides the 'highest and best use' of the property, showing what facilities can be developed and how to utilize the asset to maximize its value.

Since it provides information to optimally utilize land and buildings along with the current estimated price, it is useful for the general public when purchasing real estate. Additionally, it offers advanced analytical information to help real estate professionals such as licensed real estate agents, appraisers, and banks easily grasp market prices, aiding in transactions, loans, and appraisal tasks.

Moreover, using a proprietary big data-based algorithm, it calculates and displays prices for all types of real estate including land, offices, commercial properties, and residences. It derives prices by analyzing various information from multiple perspectives such as similar transaction cases, location conditions, and usage purposes for a single property.

Gongganui Gachi plans to provide estimated prices, rental yields, and price increase forecasts for all real estate including land, offices, commercial properties, and apartments in Seoul and the metropolitan area until 2021, and officially launch nationwide services in 2022.

Meanwhile, its affiliate Prime Appraisal Corporation plans to digitalize appraisal services based on the data from this service.

This content was produced with the assistance of AI translation services.