Innovative (local) technical solutions: real estate prices as a model

Innovative (local) technical solutions: real estate prices as a model

Whether you are interested or not, you must hear from time to time the issue of real estate, its high and low prices, and this topic has been confined for a long time behind the bars of what people and real estate brokers in their councils and in social networks and communication programs, but there has been no development in this aspect that would He unveils the actual real estate prices until a real estate application came and published a price indicator in each neighborhood based on the data of the lands offered through the platform only. Although this was a good indicator, it cannot be described as “accurate” because the prices are not final and do not reflect the reality of real buying and selling. But it was a little rough and good.

Real estate developers coexisted with this reality for a long time, but in the event that you (as an ordinary consumer) decided to search for a land to build a lifetime house, you will find that this problem is an actual barrier to making your decision to buy in one neighborhood from another, and to evaluate the price of the presented land meter for the scarcity of the data used for comparison, but I can say Currently this problem is gone forever (largely), and what is distinctive about the solution that we will review here is that it was built on the basis of very accurate information provided free of charge by the Ministry of Justice in Saudi Arabia, the authority responsible for documenting buying and selling deals, and this data is provided in raw form on its website under The name “open data” is data that government agencies publish according to certain mechanisms for the public to use in making personal and business decisions.

The Solomon Suwailem established site “real estate prices Site – Twitter ” is a search engine based on published transactions from the Ministry of Justice (for some cities so far) from which you can see all deals, sorted by date, space and price per square meter and the total price and number of planned and part number style It is very easy to give you a “real” impression of the price index in a particular neighborhood and city. This is an example of the latest deals in the Al-Yasmine neighborhood in Riyadh:

In conclusion, my talk today about this site is for two main reasons that we lack technical solutions:

  • The solution came to a real problem facing many for a long time, and it is a local problem par excellence, meaning that an international player in the field of technology cannot come up with a solution to this problem. Rather, solutions must emanate from the local community and from people who know the roots of the problem historically accurately, you can get Prices are similar to many cities around the world, Miami is a model .
  • And it is the most important thing in my opinion, that Solomon in the presented solution relied on open and published data and widespread use, and what he did, although it seemed simple to establish an interface to display the results, deals and information needed to make a decision, but the effect is very large and I think it will make a big difference in the real estate market, the idea of ​​relying on Local, open-source data can generate tens or hundreds of creative ideas that disrupt the current technology solutions landscape in Saudi Arabia.

Thank you, Sulaiman Al-Swailem, and thank you in advance to all entrepreneurs who provide local solutions based on local government or private data. The market is hungry for such projects and so on.

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