The real estate market in the UAE is constantly evolving, making it challenging to navigate. Bayut, a leading property portal, has partnered with the Dubai Land Department (DLD) to introduce a groundbreaking Artificial intelligence (AI) tool called TruEstimate. TruEstimate aims to transform the way homeowners, sellers, buyers, and agents interact with the dynamic UAE real estate market, providing them with accurate valuations and valuable data-driven insights.
TruEstimate uses advanced AI and analyses extensive data from the DLD and property listings, empowering investors with insights for informed decisions. 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.
His Excellency Marwan bin Ghalita, Acting Director General of the Dubai Land Department said, “At Dubai Land Department, we highly prioritise improving real estate sector data by working closely with our partners from the private sector. Our approach uses artificial intelligence and the latest technologies, focusing on customer needs. Today, the launch of the smart valuation service TruEstimate by our partner, Bayut, is a key step in providing accurate property values. This helps stakeholders make confident, informed decisions and enables optimal investment strategies."
How Does TruEstimate Work
Objective Property Valuation: TruEstimate provides an unbiased estimate of a property's current market value. It considers recent sales of similar properties, current market trends, and specific property details.
Comprehensive Reports: Users receive detailed reports enriched with visualisations of market trends and comparisons with similar properties. This helps them understand historical price fluctuations and benchmark asking prices.
Easy Access: Users input property details like Title Deed or DEWA Number into the platform to generate a comprehensive report. This includes estimated property value, rental yield, property history, and comparisons with similar properties.
Benefits Of TruEstimate
Benefits for Sellers: Property sellers can accurately price their properties competitively, based on current market values.
Benefits for Homeowners: Homeowners can track their property's value over time, aiding decisions related to potential sales or property improvements.
Benefits for Buyers: Prospective buyers get reliable estimates for both ready and off-plan properties. They also receive insights into associated buying costs, helping them make informed purchase decisions.
Benefits for Real Estate Professionals: Professionals gain access to accurate property estimates and market insights. This allows them to build trust with clients and stay ahead in the competitive real estate market.
How to Access: To experience TruEstimate, users can download the Bayut app or visit the website to unlock valuable market insights and make smarter real estate decisions.