In Belarus, you can get a free apartment valuation through an online service
In Belarus, you can assess the market value of an apartment online for free. This was reported by the State Property Committee.
For this, the online calculator of the National Cadastral Agency is used. It calculates the approximate market value of apartments in Minsk and regional centers in a few seconds. To get an assessment, you need to enter the address of the dwelling, the number of rooms, the area, and the type of finish.
When calculating, the service uses data from over 175 thousand real estate transactions with apartments, collected in the price register since 2018. The model takes into account more than 15 factors, including the location of the apartment, floor, wall material, year the building was put into operation, availability of public transport and metro, micro-district, and other characteristics.
According to the State Property Committee, the error of the automatic valuation is about 5-7%. The average absolute percentage error reaches 5.59% for Minsk and 6.53% for regional centers. The model is trained on real transaction data and tested in accordance with international valuation standards.
To get the most accurate result possible, it is necessary to specify the actual characteristics of the apartment. The service allows up to 10 requests per day.
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