Data Analytics
Spacious Pro Data Analytics is a leading data analytics platform for the real estate market. Real estate market stakeholders rely on data and analytics to help them understand and react to changes in the markets. Spacious Pro products include data and analytics tools for search trend data, transaction data, property valuation and rental yields.
These data sets and analytics tools help market participants identify previously impossible to spot trends and anomalies in the real estate market. This insight can then be used to identify opportunities or to hedge against potential risks.
There are a number of highly active market participants that are already benefiting from using our data.
Journalists
Spacious Pro helps journalists to identify highly newsworthy trends in the market and can reinforce their insights with data, rather than relying on anecdotal opinions which can easily be misleading as they are often formed using tiny datasets. Spacious search data has been used regularly by The South China Morning Post to identify shifting property search trends and potential opportunities for property investors.
Real Estate Developers
Spacious works with real estate developers by giving them access to aggregated search data, helping them to better understand demand trends for specific geographies and various apartment types. Spacious Pro tools enable developers to identify the optimal building and floor plan designs as well as customised sales strategies for given project locations.
Real Estate Agents
Spacious helps generate high-quality leads for real estate agents. Agents respond to enquiries and communicate with searchers directly within Spacious, providing Spacious with real-time, proprietary insight. With thousands of active agent users, Spacious is able to gather additional market color via real time transaction records created by agents and conducting regular agent surveys regarding market sentiment. Agents can also use data from transactions, listings, searches, and demographics to better price listings, advise clients, negotiate with counterparties, and close deals.
Financial Institutions
Many financial institutions have significant exposure to the real estate market. In the case of banks specifically, mortgage loans can make up a significant portion of their assets. Fluctuations in the housing market can have material implications for the health of banks and a banking system. Due to delays in the reporting and processing of new data, current market conditions can take months to appear in a bank's results and reporting. Spacious Pro provides real-time data and early warning tools to financial institutions, allowing them to respond faster to reduce risks and increase the effectiveness of bank managers. Many investment fund managers spend a huge amount of time and money trying to identify trends and ‘leading indicators’, Spacious Pro has the tools to allow for easy quant analysis of millions of recent data points.
Market Data Providers
Spacious publishes proprietary data sets on various market data networks. These networks multiply the reach of Spacious Pro products for consumer and professional applications. With more active users, Spacious can better refine existing products, identify new products for development, and gain access to even more market data and information from market participants and experts.
Spacious API
On a request basis, Spacious can grant access to the Spacious Pro API to help software developers build complementary products and unique third party applications.
Spacious is aggregating vast amounts of data related to all aspects of the property markets in Greater China. Regardless of your connection to property, Spacious can drive increased value to your business with larger and better data and cutting edge analytics tools.
Augmented Reality
Spacious has created one of the first commercially scalable Augmented Reality (AR) applications. Spacious AR enables users to search for nearby real estate in a 360-degree, three-dimensional, live environment using an AR interface on their smart phone or tablet. Spacious AR allows users to see the real world, three-dimensional location of real estate listings as a user walks, drives or commutes around a city.
1. Access from AR button on the map
2. Experience AR right on your device
This functionality was built by our cutting edge in-house development team. Using the same expertise we are working with partners to create applications for various commercial use cases.
Block Chain and
Smart Contracts
The real estate industry is a multi-trillion dollar industry across Asia which is of huge importance to consumers, governments, financial institutions and most other participants in society.
With this in mind, it can also be said that the real estate industry has remained largely unchanged in the way it operates despite huge changes in other industries and once-in-a-generation technological innovations around the world.
Most transactions are still managed through mountains of paperwork and on-demand structured information is not possible without making written requests and waiting weeks to receive information.
The process of buying or renting property involves several steps including:
Verifying titles
Conducting surveys
Ensuring Tax payments are made to the government
For the most part, this is all done manually with clerks running between filing cabinets containing millions of documents, which creates fundamental issues and inefficiencies:
External interference - a paper based process is vulnerable to the influence of powerful interests and external influences.
Expensive - Mountains of paperwork increases the cost of doing business.
Errors - Paperwork leads to mistakes and is inexact.
Hard to Analyse Data - Difficult to analyse data that is not stored in a structured and queryable format.
Some of these issues can be solved by simply storing every file/contract on a traditional computer system, which mirrors the filing cabinets system but is in the virtual world. This is however not ideal as you need large, expensive technology teams and hardware to help maintain the system. The data management is still being done manually, the only thing that changes is how the data is stored.
How can we make this whole process work more like a computer?
Using Block Chain and Smart Contracts technology the entire process of buying or renting property can be completely automated
Leading to significant cost savings, better government tax collection, efficiency, data accuracy and a transparent market.
By creating a self-managed data application to manage residential sales and rental transactions, we can:
Remove external interference by removing humans from the process, the possibility of interference is removed.
Reduce costs by reducing paperwork and the need for manual work.
Manage information in a more timely manner.
Reduce mistakes by avoiding human errors.
Handing over a Smart Contract to another person does not require the need to also send the key which significantly reduces the possibility of fraud.
Using the Block Chain to store the Smart Contracts means anyone avoiding government taxes or trying to manipulate transaction history can easily be found out.
Spacious is working with the best agents and developers in the market to help utilise Smart Contract and Block Chain Technology for improving efficiency in the Asian real estate market. Starting in Hong Kong, we are working to store transaction information using Smart Contracts and Block Chain technology.
