Integration of AI in Real Estate Development

AI in real estate price and trend prediction

Analysis of market trends and demographic developments confirms the current potential for converting office spaces into residential units. This is driven by the persistent home office culture resulting from the COVID-19 pandemic and the increasing demand for housing in urban areas. In Munich, for instance, there is currently a deficit of approximately 80,000 affordable housing units…

‍

‍

In the realization of these much-discussed conversion projects, appropriate AI tools can play a crucial role.

To optimally leverage AI-based tools, users must thoroughly understand their functionality and develop a profound grasp of their complexity. Many fail to unlock the full potential of AI technologies due to an incomplete understanding of their operational mechanisms.

PROBIS, a software solution that also integrates AI technologies, stands out for its user-friendliness and ease of application. Its intuitive user interface and clear structure enable users to leverage the benefits of AI technology and manage their projects efficiently and effectively, even without extensive technical expertise.

‍

PROBIS utilizes benchmarks and AI to instantly present clients with the most profitable development or calculation variant.

‍

‍

With the help of KPIs, asset classes and repurposing possibilities are automatically analyzed to present the best possible development scenario. AI-based precision in converting office spaces into residential units.

‍

‍

PROBIS' AI utilizes third-party data to accurately assess the potential for converting office spaces into residential units. This encompasses evaluating conversion feasibility, providing insights into specific office building characteristics, and employing Big Data Analytics to determine the economic viability of such projects. Potential risks are identified proactively.

A potential risk in converting office spaces to residential units is the unsuitability of the existing spatial structure for residential purposes. Office buildings frequently feature open-plan layouts or are segmented into numerous small rooms, which may not align with modern residential requirements. AI analyzes the building structure to evaluate if and how it can be adapted for residential use.

The analysis can encompass aspects such as room layout, the positioning of windows and doors, and the availability of plumbing and kitchen connections. PROBIS thus prevents costly planning errors.

‍

Efficiency and Control

Following the planning phase, PROBIS supports the entire conversion process through intelligent AI-based project controlling.

‍

‍

The system dynamically adapts to current project progress and supports project execution through automated data transfer and comprehensive KPI determination. During the transformation, PROBIS's Workflow Engine enables efficient control of all steps: from automatic task assignment to responsible parties to accelerating critical processes such as change approvals and invoice verification. This leads to a significant acceleration and transparency in the construction project.

Precise target/actual comparisons and analyses ensure that the project complies with the planned specifications and quality standards.

‍