Product updates #2
may 7, 2020
During April, our team focused on improving the NOVA Realty expert system
An audit of the information management system linked to the geo-location was carried out.
The classification system for real estate objects has been supplemented, in particular, the use of mixed functions of the use has been added.
Approach to the analysis of public spaces has been updated.
Basic object analysis algorithm has been updated using the Highest and best Use (HBU) method
The requirements and types of the following groups of real estate data have been clarified:
– general information;
– data on local agglomeration;
– data on land and facilities (if there are any).
- Updated requirements for modeling tools for the use of real estate, such as:
– great work for all functions of use (site preparation, space-planning solution, improvement, etc.);
– business characteristics for all functions of use (methods of generating income, competition, operation, etc.);
– external influencing factors (geopolitical and macroeconomic factors affecting the country and location, and others).
- Optimized approach to the calculation of financial models for all functions of the use of the property:
– added additional revenue and expense items;
– added new methods for modeling the sensitivity of parameters;
– general view is given to IFRS.