Informed Real-Estate Services: Leveraging Web 2.0

Project Overview

The value of an apartment, building, or land in a urban area is not represented exclusively by the intrinsic characteristics of the property, such as the quality, location and size of its construction, but is also and even primarily determined by externalities – both negative externalities, such as air and noise pollution, traffic congestion, high criminality rates; and positive externalities, such as proximity to playgrounds, schools, stimulating social interactions. Unfortunately, existing Real Estate (RE) electronic services (e-services) and applications are targeting purchasing or rental advertisement of properties based exclusively on their intrinsic characteristics, without offering any assistance to professional and individual retailers in assessing the positive or negative externalities related to a particular property.

Project Aims

The RealEstate2.0 project aims to bridge this gap, which presently appears to be even more crucial, in order to open the Greek real estate market worldwide, in the following ways :

  • • by providing a generic infrastructure for harvesting, extracting, aggregating and curating contextual information related to RE properties from administrative and social media sites (e.g. social networking sites, multimedia sharing sites), which allows us to reduce the cost of acquiring and maintaining high quality location data over time;
  • • by elaborating advanced business models for real-estate agencies to manage their portfolio based on past property value evolution and location-related indices, as well as for individuals to explore spatio-temporal trajectories of the areas surrounding the properties or points of interest, in order to assert positive and negative externalities of properties.

OPCE II: Operational Programme 'Competitiveness & Entrepreneurship'

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Co-financed by Greece and the European Union

Contact OPCE ΙΙ:

Tel: 801 11 36 300,
Fax: 210 74 50 883,