PAP.fr launches a new free real estate valuation tool that aims to be the most reliable on the French market

It allows to know the prices of the real estate updated monthly, for an address, a city, a district, a department and a region using tables, a dynamic cartography (going up to the satellite view) with examples of sales made in the last three years. It is complemented by a personalized valuation tool for apartments and houses.

It is based on millions of data from the DVF database of the Ministry of Finance which are reprocessed using artificial intelligence and algorithms that required nearly two years of development and the recruitment of a data-scientist.

The reprocessing of the data makes it possible to integrate all of the data from PAP.fr thanks to the content of the 180.000 sales announcements published annually. At the same time, data from buyers' research (email alerts, searches, contact requests) make it possible to analyze market dynamics and to update the price level monthly to reflect reality.

A new service, simple to use, extremely complete and… transparent!

The new online real estate valuation tool, accessible free of charge, via the "Price immo" tab on the PAP.fr website, provides monthly updated real estate prices for all types of property everywhere in France (except in the departments of Alsace and Moselle), including in Corsica and in the Dom-Tom.

The data is accessible in several forms (dynamic mapping and tables) and covers all types of housing. The geographical perimeters range from the district, according to the INSEE IRIS standard, to the region, passing of course by the municipality and the department.

For each municipality, the prices can also be consulted by type of property with the average surfaces and the respective weight of each type in the total.

Particularity of the service offered by PAP, transparency, since it is possible to consult, at a given address, actual sales made, in the last three years, nearby, with the following characteristics: exact address, date of the transaction, type of property, area and price.

Each blue dot on the map represents an actual sale. The red dots identify advertisements published on PAP.fr.

Finally, a personalized valuation tool accessible in one click makes it possible to know the value of a property by integrating its characteristics.

Additional data is also available to shed light on the housing structure of a municipality or district: number of dwellings, rate of owners and tenants, share of social housing.

The tool also makes it possible to follow the evolution of prices over 5 years for each French municipality (excluding the departments of Alsace and Moselle) with intermediate indicators at 1 month, 3 months, 6 months, 1 year and 2 years.

DVF: an exhaustive database, but the use of which does not provide reliable and up-to-date data

The data published by PAP.fr uses, after a powerful algorithmic reprocessing, the raw data contained in the DVF database of the Ministry of Finance. This database, available in open data, is distinguished by its completeness since it lists all real estate transactions recorded on national territory (with the notable exception of the two Alsatian departments and Moselle), i.e. several million transactions.

But its raw exploitation is tricky due to several pitfalls:

• The data available is quite summary and does not allow, for example, to know the state of a property.
• The data suffers from a time lag of 6 to 9 months, due to the fact that they are published twice each year and that they are based on authentic deeds of sale, which occur on average three months after the sales agreement . However, it is in the sales agreement that the parties agree on the thing and the price.
• The data does not take into account, when this is the case, movable items which could be transferred (equipped kitchens, etc.) and which do not come under the base of registration fees.

For all of these reasons, this excellent base, due to its completeness, needs to be reprocessed and supplemented with rigor to stick more closely to reality.

Adding Precision to Completeness: The Art of PAP Data Reprocessing

Publishing an average of 180.000 sales announcements per year, PAP also has a database. Unlike the DVF database, this one is not exhaustive but has a lot of information from the content of advertisements, price changes made by individual sellers, online publication times, descriptive text of goods and photos. which embellish them. All these variables make it possible to have information of a precision that the DVF base does not have.

Thanks to an algorithm allowing precision cross-checking, all advertisements published on PAP.fr are reidentified a posteriori within the DVF database which is thus enriched with data from PAP, such as:

• The condition of the property, its energy label and many other variables (even condominium fees). But also the presence of equipment that can be transferred excluding registration fees (equipped kitchen, etc.) thanks in particular to the content of the advertisements.
• The average publication times of the advertisements as well as the price variations during the publication.

All of these restatements ultimately provide a basis combining completeness and precision. It also allows, on the redundancies of characteristics by type of property and/or by geographical area, to extrapolate missing data in the DVF database for properties that would not have passed through the PAP.fr platform.

Buyers set prices...

The DVF database, enriched with data from PAP and algorithmic restatements, despite its precision, suffers from a time lag since it is based on data that is between 6 and 9 months old. It is therefore extremely reliable, but at a time T which is not the present time.

It is therefore necessary to update all these data taking into account the market dynamics instilled by buyers. To do this, PAP.fr, which records between 8 and 9 million visits each month, uses data relating to candidates for purchase from email alerts, visits to the site, but also contacts generated by each advertisement on the site.

For each type and characteristic of property, but also each territory, by compiling data from the appetite of buyers, it is possible to establish market dynamics that allow prices to be updated according to demand over the last month. elapsed. This updated data, which takes into account the current state of the market, is available:

• In the updated database that allows you to obtain the personalized valuation of a property.
• In the form of price tables by municipality and by district.
• In the form of dynamic maps on a national or departmental scale.