New predictive tool for existing residential real estate prices

Rudolphe ABENRudolphe ABEN - NEXTIMMO.LU

Rudolphe ABEN

New predictive tool for existing residential real estate prices

Nextimmo introduces its brand new predictive tool for assessing future prices of existing residential real estate, named "Trends 2024". As a pioneering player in the real estate sector, the Nextimmo team is committed to leveraging cutting-edge technologies to enhance market transparency. This innovative tool is designed to forecast price trends for the upcoming quarters.

Founded in response to a sectoral crisis, this hybrid real estate agency has developed a platform dedicated to promoting mandate properties as well as offerings from its partner agencies. This user-centric platform provides significant advantages to potential buyers by offering crucial information for informed purchasing decisions in the Luxembourg residential real estate market.

Their team of real estate data experts has developed an analysis tool for current price trends, enabling short- and medium-term projections of prices per square meter and per commune. This tool, a first in Luxembourg, offers an accurate comparison of property positioning on the platform compared to other similar listings, thereby helping future buyers assess property attractiveness.

The Luxembourg real estate market, often criticized for its lack of transparency, has seen prices soar after the pandemic, contributing to a recent sharp correction in prices. In response, Nextimmo has leveraged publicly available data since 2016 to create detailed graphs depicting the evolution of real estate prices in Luxembourg. These graphs illustrate price increases before their recent adjustment. Additionally, they have developed an algorithm to forecast prices per square meter per commune for 2024, where data is sufficient to establish future trends. Nextimmo will continue to gather data to refine the accuracy of their predictions and consider integrating artificial intelligence into their future models.

This new tool is now available for existing properties in communes where there are enough listings to provide a reliable projection, accessible through sales listings on the platform.

To access these indicators, simply visit the Sales section of Nextimmo and scroll down to the bottom of the listing of your choice. Currently in beta phase, this tool aims to predict listed and recorded prices over a one-year period.