As investor confidence in Dubai’s real estate market remains high, a new player is overturning the market by using artificial intelligence (AI) to match homebuyers with their ideal properties.
Realiste, a Dubai-based property technology company, not only enables customers to acquire the best off-plan alternatives straight from developers with a single click, but it also estimates the future value of their property.
Alex Galstev, the platform’s CEO and founder from Russia, said they want to make home purchases as simple as booking hotel rooms while also projecting future rent and sale costs and analyzing current market trends to help users make better selections.
“Our AI-powered marketplace analyses the real estate market 1,000 times faster and more accurately than a traditional agent. Unlike a human broker, Realiste never sleeps. It works round the clock as it aggregates real estate data from multiple sources to determine the value of a property in real-time,” said Galstev.
“What an investor will find out after weeks of research, our platform’s self-learning engine will do in a matter of seconds. It can even predict resale and rental price fluctuations in three, 12 and even 36 months based on data from more than 200 parameters.”
The Realiste has opened offices in close to 20 cities since its 2021 launch, including New York, Moscow, London, Bangkok, Bali, and Jakarta, but according to Galstev, Dubai is their main market.
That would likely explain why, after arriving here in February 2022, he decided to make the city the company’s headquarters.
According to realiste data, Dubai’s real estate market is predicted to expand by 46% this year.
“There is an insatiable demand for properties in Dubai but the real estate market still remains underestimated compared to financial hubs like London or New York,” said Galstev.
“Our AI-powered technology could go a long way in overcoming factors like lack of transparency, mispricing, and misselling to boost the market growth and help investors win from every deal.”
According to Galtsev, he aims to digitalize the real estate market in each major city so that customers may receive accurate property values and individualized advice at no cost.
‘It’s also a handy tool for real estate agents to find out precise property matches for their clients.”
Online booking was just added by Realiste to the platform. According to Galstev, it might be a game-changer because it will accelerate real estate agreements, which will boost the local housing market’s growth.