AgenciesGlobal luxury real estate consultancy firm India Sotheby’s International Realty (ISIR) has acquired a minority stake in CRE Matrix, a data analytics platform for residential and commercial real estate, as demand for luxury properties increased many fold post Covid.
CRE Matrix will collect data on buying, selling and leasing trends in a specific area, traffic, demographic information, consumer survey results and will help ISIR to offer better insights on pricing, home-value trends, and potential value in certain high value neighborhoods across the metro cities and holiday destinations.
“CRE Matrix will enhance our ability to bring new products to the market using big data, deep learning and natural language processing (NLP) technologies to store, retrieve and analyze billions of data points across millions of Pan-India real estate transactions,” said Ashwin Chadha, president, India Sotheby's International Realty.
The current investment will enable the company to draw on superior analytics of CRE Matrix in residential and commercial real estate, with a view to undertake more analytics-based transactions and advisory services, with offer data backed pricing to its domestic and international clients.
For CRE Matrix, ISIR will provide valuable inputs and insights on product development, with its vast domestic and international client interface experience.
"Sotheby's International picking up an equity stake in CRE Matrix will help the two brands to create many new systems, products, services for each and all stakeholder within the Proptech ecosystem including the Indian buyer," said Abhishek Kiran Gupta, CEO and Co-Founder, CRE Matrix.
The current investment adds a valuable layer to ISIR existing digital, and tech led offering to its clientele. Prop-tech is changing the way we buy, sell, lease, and interact with our properties, the real estate consultancy firm said while announcing the investment in CRE Matrix.
"Globally real estate investment decisions are backed by substantial transaction analytics which lend transparency and professionalism to the sale process for both the buyer and seller,” Chadha said.
With CRE Matrix going deeper into AI and machine learning, it will become possible for ISIR to recommend properties based on preferences and personality traits in the near future.
The SIR network is present in 79 countries and territories with 1,000 offices and 25,000 sales associates and has achieved a record real estate global sales volume of $204 Billion in the year 2021.
The brand established its presence in India by setting up its first office in New Delhi in July 2014. It now has offices in Delhi, Mumbai, Kolkata, Bangalore, Goa, Colombo, and the mandate for the Maldives.
India SIR sold 182 luxury properties worth USD 280 million during 2021 as against 102 properties valued at USD 190 million in the previous year. The growth in sale of properties in value terms stood at 47 per cent while in volume it was 78 per cent.
CRE Matrix will collect data on buying, selling and leasing trends in a specific area, traffic, demographic information, consumer survey results and will help ISIR to offer better insights on pricing, home-value trends, and potential value in certain high value neighborhoods across the metro cities and holiday destinations.
“CRE Matrix will enhance our ability to bring new products to the market using big data, deep learning and natural language processing (NLP) technologies to store, retrieve and analyze billions of data points across millions of Pan-India real estate transactions,” said Ashwin Chadha, president, India Sotheby's International Realty.
The current investment will enable the company to draw on superior analytics of CRE Matrix in residential and commercial real estate, with a view to undertake more analytics-based transactions and advisory services, with offer data backed pricing to its domestic and international clients.
For CRE Matrix, ISIR will provide valuable inputs and insights on product development, with its vast domestic and international client interface experience.
"Sotheby's International picking up an equity stake in CRE Matrix will help the two brands to create many new systems, products, services for each and all stakeholder within the Proptech ecosystem including the Indian buyer," said Abhishek Kiran Gupta, CEO and Co-Founder, CRE Matrix.
The current investment adds a valuable layer to ISIR existing digital, and tech led offering to its clientele. Prop-tech is changing the way we buy, sell, lease, and interact with our properties, the real estate consultancy firm said while announcing the investment in CRE Matrix.
"Globally real estate investment decisions are backed by substantial transaction analytics which lend transparency and professionalism to the sale process for both the buyer and seller,” Chadha said.
With CRE Matrix going deeper into AI and machine learning, it will become possible for ISIR to recommend properties based on preferences and personality traits in the near future.
The SIR network is present in 79 countries and territories with 1,000 offices and 25,000 sales associates and has achieved a record real estate global sales volume of $204 Billion in the year 2021.
The brand established its presence in India by setting up its first office in New Delhi in July 2014. It now has offices in Delhi, Mumbai, Kolkata, Bangalore, Goa, Colombo, and the mandate for the Maldives.
India SIR sold 182 luxury properties worth USD 280 million during 2021 as against 102 properties valued at USD 190 million in the previous year. The growth in sale of properties in value terms stood at 47 per cent while in volume it was 78 per cent.
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