Artificial intelligence technologies are about to reshape the Philippine real estate sector, potentially helping realtors, property managers and other practitioners improve efficiency and productivity, a new article from diversified professional services and investment management company Colliers said.
In the article titled “AI revolution: How this groundbreaking technology is changing real estate,” author Joenes Jemola, market analyst at Colliers’ office services—landlord representation, underscored how artificial intelligence could help provide property developers with actionable insights, better manage their developments and facilities, improve project planning and enhance product valuation.
He wrote that through predictive analytics, AI could quickly recognize fluctuations in property prices, identify areas ripe for growth and determine the optimal timing for property launches, making it easier for property developers to respond to market development and achieve success.
Jemola said there are also available AI technologies that could assist urban planners create more intelligent, efficient, and sustainable cities. He said an example of this is Urban Insights, a tool for rapid urban prototyping developed by Singapore-based technology firm Digital Blue Foam. The technology assimilates data from various open sources, enabling project teams to generate urban scenarios and compare the quality of different locations, he added
“This novel technology is now finding its way into the many facets of real estate under a wide range of applications: from searching, analyzing, and valuing properties, monitoring markets, forecasting trends, and using virtual property tour technology, to enhancing construction processes, managing buildings, and facilitating home sales,” he added.
