UAE

Dubai Real Estate: Bayut Announces AI Property Valuation Service

Dubai real estate investors will be able to get accurate and instant property valuations with a new AI-powered service from Bayut.

Following the signing of a Memorandum of Understanding (MoU) between Bayut and the Dubai Land Department (DLD), Bayut has taken significant strides in enhancing user and client experiences by developing the groundbreaking AI tool.

This new service, branded as “TruEstimate”, offers a smart property valuation solution by integrating Bayut’s extensive data with DLD’s robust property databases.

As well as delivering reports on property valuation in Dubai, the service will provide information on rental yields, property history, and comparisons with similar properties.

This AI-powered tool provides accurate property valuations and equips users with data-driven insights into the real estate market.

TruEstimate aims to revolutionise how homeowners, property sellers, buyers, and agents engage with the dynamic UAE real estate landscape.

This partnership also supports Dubai’s “Services 360” policy, aiming to streamline service delivery by integrating data systems across government entities, reducing customer data requirements, and facilitating seamless access to services.

TruEstimate delivers an objective estimate of a property’s current market value, considering recent sales of similar properties, current market trends, and property characteristics.

The reports are further enriched with market trend visualisations and comparable property analysis, allowing users to understand historical fluctuations, benchmark asking prices, and evaluate potential purchases with confidence.

By providing this comprehensive data picture, TruEstimate equips users to make informed decisions in the evolving local real estate landscape, backed by data sourced directly from the Dubai Land Department.

To learn about the estimated property value, rental yield, property history, and comparisons with similar properties, users can simply input their property details (such as Title Deed, Oqood Contract, Unit Number, or DEWA Number) into the platform, which will then generate a detailed report.

TruEstimate brings significant value to various stakeholders in the real estate market. For property sellers, it provides a clear understanding of their property’s market value, enabling them to set competitive prices.

Homeowners benefit from the ability to monitor their property value over time, informing any decisions towards potential sales or improvements.

Property buyers gain a reliable estimation of property values for both ready and off-plan properties, as well as a detailed breakdown of all associated buying costs, helping them make better purchase decisions.

Real estate professionals can gain access to accurate property estimates based on advertised prices and data from the Dubai Land Department, build trust with clients through valuable market insights, and stay ahead of the competition with up-to-date property information.

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Arabian Business

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