BetaTracker and the Luxembourg Institute of Socio-Economic Research (Liser) are working on a way to more accurately track house prices in Luxembourg
The process of valuing properties in Luxembourg could soon become more accurate thanks to the merger of the two biggest players in Luxembourg real estate valuation.
Startups Houser and BetaTracker announced the news on Tuesday, saying that along with a capital investment into Houser, BetaTracker brings to the merger a project with the Luxembourg Institute of Socio-Economic Research (Liser) offering a more accurate way of tracking house prices based on the real sale prices.
Currently, notaries are not obliged to publish the actual sale prices of real estate and so real estate value data tends to be based on prices advertised on estate agents’ websites.
“Liser allows us to develop the most accurate valuation model in Luxembourg based on the real price of properties. Combining the scientific rigour of Liser’s research with Houser’s real-time market data and operational expertise ensures we can address the needs of banks to manage their portfolio risk and fulfill their regulatory requirements,” BetaTracker's Dan Haag said in a press statement.
BetaTracker started out as a service offering professional real estate services to banks and financial institutions. Houser, meanwhile, has built tools for property buyers and renters with houser.lu and for estate agents with HouserLOOP.com.