Houza adds 'gamechanger' yield calculator feature to portal
DUBAI
SHARE
UAE property portal houza.com has introduced a yield calculator feature to its search function, making it easier than ever for prospective investors to spot an opportunity.
The first-of-its-kind, consumer-facing tool allows landlords and investors to see what their potential yearly net return will be on a residential property, accounting for service charges, without even leaving the page, said a statement from Houza.
After launching its trends and transactions feature last month, this addition rounds off a hat-trick of firsts for the industry, from being the only portal to let consumers book a valuation with a property agent directly on the platform, to unlocking genuine transaction-level data.
On the new tool, Chief Operating Officer Sebastian Ritter said: "We rolled out trends and transactions data on houza in January, which has been incredibly well-received by both agents and consumers, so we’re expecting the yield calculator to be just as popular. It adds another string to our bow in achieving complete market transparency."
"In itself, displaying service charges to buyers is exclusive to houza in the region, but combining that with net return or ‘yield’ data is a new level of insight for investors," he stated.
Indeed, the new tool comes at a prime-time for the investor market, he said.
"The timing couldn’t be any better. Having both the transaction prices and yield calculator in place allows us to give enhanced insights to end-consumers and investors alike," he stated.
Powering the figures is Reidin Data Analytics, Houza’s selected data partner. Using REIDIN’s expertise of carefully curated service charges and long-term visibility on rental price averages, the yield calculator processes the sale asking price with the annual rental price and the annual service charge, according to average service charge per sq ft for the location.
For apartments, Houza said one of the highest yields is in Green Community West where net return exceeds 7%. This property for instance will earn its buyer 7.31% return (as of February 17).
Meanwhile for villas, Al Reef in Abu Dhabi boasts properties where the net return is almost 7%, like this Arabian Village property at 6.9%.
Aston Pearl Real Estate General Manager Safura Abasniya said: "The introduction of the yield calculator is truly a game-changer for the investor and landlord circle."
"Never before in the region has this information been as readily accessible as it is on Houza so we’re excited to be able to showcase this tool to our clients," she added.-TradeArabia News Service
