Tokyo (SCCIJ) – PriceHubble AG, a startup company based in Zurich, Switzerland, specializing in digital products for the real estate market, has concluded a cooperation agreement with Wealthpark Co Ltd. from Tokyo. The Japanese property technology enterprise will integrate PriceHubble’s digital rental price estimation into their nationwide distributed portfolio software.
Local subsidiary established
The young Swiss company, founded in 2016 and already active in four markets outside Switzerland, began its expansion into Japan about one year ago. In the meantime, the digital solutions for real estate valuations, developed in Zurich, became available in Japanese. A local team has been established and is active from Shin-Marunouchi Building next to Tokyo station, working on expanding and maintaining its current client base.
The cooperation between the two property technology companies Wealthpark and PriceHubble represents another important growth step for the Swiss young enterprise. Wealthpark, with offices in Tokyo, Shanghai, Taipei, and New York, is integrating the PriceHubble solution, which is based on machine learning and big data analytics, into its software used for asset management and portfolio optimization in the real estate industry.
"Single click transactions"
WealthPark and PriceHubble will collaborate to provide services to various companies such as real estate companies, financial institutions, and investment corporations in Japan. With a single click, managers and owners can make decisions on buying, selling, and leasing real estate. “Through this key partnership, we are accelerating our internationalization and further growth in Japan, one of the top three real estate markets worldwide,” emphasized Stefan Heitmann, Chairman of the Board of Directors of PriceHubble.
“Wealthpark clients now have access to PriceHubble’s data-driven rental estimates and innovative property insights,” Heitmann supplemented his judgement. In addition to the cooperation with Wealthpark, the current participation in the “Plug and Play Accelerator Program Japan” increases the awareness of PriceHubble in the local real estate landscape.
Award milestones for Swiss
PriceHubble AG is an attractive partner for the Japanese side. The Swiss startup won several awards for young companies. The startup achieved third place at the Real Estate Forum contest in Frankfurt at the Euro Finance Week 2018. It also reached the final round with only three candidates in the category “Services” at the Swiss Economic Forum 2019 in Interlaken.
At the international Real Estate Innovation Contest 2018 at Exporeal 2018, PriceHubble won the top award in the “Invest” category, achieving a decisive step within the company’s ambitious expansion plans. Initially, the forum’s jury selected 1,600 startups for this competition and received 450 applications by invitation.
Artificial intelligence as tool
The story of this young Swiss enterprise began at the end of 2015. The three male founders set out to pursue their passion for turning large data sets into accessible and lucid insights to help people successfully navigate the real estate market. Their products draw from deep experience in data, machine learning, real estate, and in turning startups into sturdy companies. The company has more than 20 data scientists in-house and collaborates with the Swiss Federal Technology Institute in Zurich (ETH), which is renowned in the field of computer science, to realize solutions using the latest AI technology.
In addition to evaluating and predicting the value of the real estate itself, it provides a comprehensive assessment service that includes the surrounding areas and visualization of the ease of living. Besides its headquarters in Zurich, PriceHubble has an office in Paris’ bustling and futurist Station F, surrounded by hundreds of startups.
Text: SCCIJ with material of PriceHubble and WealthPark