Luke Brucato at Re Italy Convention Days 2018 - interview

Jun 06 2018

“Viewed from above, property values in the Italian peninsula seem to be stationary, but when you get down to territorial level you find a varied situation with areas of excellence as well as non-evident risks,” said Luke Brucato, Head of Business Development at Prelios Valuations, on the margins of RE Italy Convention Days 2018. “You have to look beyond a static snapshot of a building’s value and appeal and monitor the entire portfolio (of property guarantees or investments) with respect to the risk associated with the value; and have access to a reliable forecast of how this value may change over the short and medium term. Today, the use of big data, concrete measurable information that anticipates future market developments, is more important than ever in the valuation business. This is why, working together with Brave, a spin-off of the Politecnico di Milano, Microsoft, Agic and Consodata, with support from Deloitte, we've created Premium, a brand new property risk analysis platform combining the experience of Prelios Valuations in statistical property revaluation with socio-economic big data. The forecasting potential of big data in determining property values was emphasized recently by the Bank of Italy in its discussion paper released in May 2018. For twenty years we have been collecting and using property data from a variety of sources in our valuation and revaluation processes. Now we have significantly enhanced this data and used it as the basis for innovative forecasting algorithms, which, with Premium, determine fluctuations and risks on the Italian real estate market.”