June 11, 2021
How Artificial Intelligence (AI) can Reshape the Future of Property Valuation
Introduction Pakistan’s real estate market can be a challenging place to navigate due to a lack of regulation and adoption of best practices. Those looking to buy or sell real property in Pakistan must rely on valuations given by real estate agents or brokers, with no way of verifying how that rate was derived. A property’s value can depend on many factors ranging from location, property condition, local infrastructure, environment, supply, and demand (PR, 2021). Besides these factors, many other things come into consideration that make a property valuable. Pakistan lacks a proper system of property valuation which gives rise to speculation and fraud in real estate. Therefore, a...
