New Price Prediction Tool for Existing Residential Real Estate
Nextimmo presents its brand-new predictive tool for evaluating the future prices of existing residential real estate, dubbed "Tendances 2024". As a pioneering player in the real estate sector, the Nextimmo team is committed to using cutting-edge technologies to strengthen market transparency. This innovative tool is designed to forecast price trends for the upcoming quarters.
Founded in response to a sector crisis, this hybrid real estate agency has developed a platform dedicated to promoting properties under mandate as well as offers from its partner agencies. This user-centric platform offers significant advantages to potential buyers by providing crucial information for informed purchasing decisions on the Luxembourg residential real estate market.
Their team of real estate data experts has developed a tool for analyzing current price trends, enabling short- and medium-term projections of prices per square meter and by municipality. This tool, a first in Luxembourg, offers a precise comparison of the positioning of properties on the platform relative to other similar listings, thereby helping future buyers evaluate the attractiveness of the properties.
The Luxembourg real estate market, often criticized for its lack of transparency, saw prices skyrocket after the pandemic, contributing to a recent drastic price correction. In response, Nextimmo has leveraged public data available since 2016 to create graphs detailing the evolution of real estate prices in Luxembourg. These graphs illustrate the rise in prices before their recent adjustment. Furthermore, they have developed an algorithm to forecast prices per square meter by municipality for 2024, where data is sufficient to establish future trends. Nextimmo will continue to collect data to refine the accuracy of its predictions and will consider integrating artificial intelligence into its future models.
This new tool is now available for existing properties in municipalities where there are enough listings to provide a reliable projection, accessible via the properties for sale on the www.nextimmo.lu platform.
To consult these indicators, simply go to the Sales section of Nextimmo and scroll down to the bottom of the listing page of your choice. Currently in its beta phase, this tool aims to predict listed and recorded prices over a one-year period.