HEROX Disrupts The Melbourne Property Market
HEROX, seeks to chart a new course in the Melbourne market leveraging VR, data and property tokenisation
HEROX is becoming increasingly popular as the Melbourne-based company stays true to their goal of accelerating the adoption of data science models in asset selection. The fast-growing tech developer of residential and industrial real estate is disrupting the Australian property market, enabling investors to achieve optimal returns and own their dream homes using the latest technologies, including machine learning, virtual reality, and property tokenisation.
The Australian real estate market has evolved over the years, growing to become a multi-billion-dollar industry. While the Covid-19 pandemic affected the market negatively, Australian housing values have increased in recent times, reaching a 32-year record high in April, with CoreLogic’s national home value index stating that the market rose by 1.8%. Despite the amazing figures coming out of the industry, different stakeholders, especially homebuyers and investors, are yet to fully harness the potentials of the market. However, HEROX is looking to change this narrative by bridging the gap between technology and property development.
“In our use of machine learning, we still recognise that property decisions are deeply personal for most people, but the size of the debts people are now carrying, and the risk that comes with it, means people should rely on more objective data. I believe the days of pure gut feel are gone. I much prefer to rely on what statistics tell me about an area than an agent or a developer (and I am one). That is why we developed a machine learning approach to property identification, and our algorithm shows us areas that have latent rapid growth potential,” said Dan Lazar, founder of HEROX.
The tech-driven solutions offered by Herox are designed for all categories of stakeholders in the Australian real estate market, allowing landowners to earn as much as 50% of developers' profit through a joint venture while property development investors generate returns as high as 20%.
The range of innovative solutions from Herox includes Property Data to ease the process of identifying profitable development opportunities, VR Tech for 3D Virtual Tour of properties, and Property Tokenization to bring more investors into the fray.