00:00:06.370
Hello everyone, my name is Yuri Veremeyenko, and I work at a company called HomeDay, which is focused on real estate. During my work, I became aware of a significant issue: the lack of transparency in the market. How many of you are currently renting apartments? Yes, and how many of you have sold or bought property? Great, so how do you feel about the prices you pay? Are they adequate? Do you think they are reasonable? We have been thinking about how to address this and make pricing more reasonable and transparent.
00:00:25.750
Our focus has been on the entire market in Germany. Quickly, I want to touch on something—if you have a property, let’s say an apartment, and you want to find out how much similar properties cost in the area, it’s essential to understand that location is key. Every real estate agent will emphasize that it always comes down to location. To determine the market price for your property, you need to be able to geocode the address and display this information meaningfully. Additionally, you will need estimates of the prices based on relevant data and some kind of algorithm to output a price based on these input parameters.
00:01:10.030
We have developed a tool called Price Atlas. This tool focuses on geolocation, where it deals with addresses. In the end, what truly matters are the geographic coordinates: latitude and longitude—not just the address itself. The tool uses various models and a caching layer for price estimation, along with machine learning algorithms that, although heavy and slow, produce reliable results. Let me show you how it works. Can you see it? Let's take a look at rental prices, as I've worked more with rentals.
00:01:49.840
This is the area we are currently examining, which is a non-residential zone. The current rental price for this area is around 1,150 euros, though I’m not familiar with Hamburg pricing, so feel free to correct me if I'm wrong. The graph shows how prices have developed over the past year, indicating a general upward trend. The gray line represents the overall trend for Hamburg, while the orange line specifically reflects the prices in your immediate residential area.
00:02:30.120
You can view the average rental prices and switch to buying options as well. The tool allows you to click around and use color coding to indicate the overall quality of living in each location. Although I don’t know Hamburg extensively, I’ve heard that areas near the lake tend to be quite attractive and desirable places to live.
00:02:45.360
As I zoom out, you can see that some areas are definitely less expensive to rent. Overall, we’ve created a tool that works throughout Germany, built using Ruby, Python, JavaScript, and a touch of love. I encourage you to try it out and feel free to approach me if you have any questions.
00:03:02.900
I appreciate your attention. Thank you very much for listening.