Thanks to the multi-disciplinary expertise of the Prelios Group and its own presence as an established player in the real estate sector for more than 20 years, Prelios Valuations has the largest real estate database in Italy. It guarantees full diversity of sources to ensure complete coverage and reliable results for its clients. Through its highly innovative strategic and technological vision, Prelios Valuations has developed IT platforms to enable clients to take full advantage of its knowledge base – unrivalled in size, sources and applications – in their own processes.
Proprietary IT platforms
For over 15 years, the VT platform has been the management tool used by Prelios Valuations to coordinate all valuation activities, from registration of clients to management of the network of experts, right up to quality control and management of individual property data. The platform software, based on the experience accrued by Prelios Valuations since the early 2000s, is regularly updated in accordance with the valuation criteria imposed by regulatory and technological developments.
The Mass Appraisals services and the Study Centre use Magister (Master Assessment Geo-referenced Isometric and Territorial), is an application developed by Prelios Valuations for the statistical revaluation of broad property portfolios, and the drafting of market research, reports and portfolio analyses. MAGISTER is also a searchable database, with 3D renderings of properties and a representation of current market value. With over ten years of excellent performance, data from 6 information sources updated every six months, and historical property series starting in 1996, MAGISTER is Italy’s primary statistical analysis tool.
MAGISTER satisfies the credit risk mitigation needs of banks by enabling frequent revaluation of the property guarantees underpinning mortgage loan stock, in accordance with the international Basel regulations.
Today, technology makes it possible to combine property-related big data with the requirements of banks to meet commercial needs, map the territory and monitor real estate collateral continuously for the entire duration of loans, with self-evident advantages in terms of risk management and costs.
Premium is the innovative property risk analysis platform launched by Prelios Valuations in response to this new strategic direction and to satisfy the new European and Italian regulations, including IFRS 9, Bank of Italy Circular 285 and the ECB guidelines on NPL.
For each property, Premium provides:
- the Risk Index to calculate the probability of loss of value over the short term;
- the Mortgage Lending Value for calculation of the future prudential value of the property over the course of the loan;
- the Predictive Market Value for calculation of the future market value over the short and medium term (to determine the IFRS 9 lifetime expected loss);
- the Judicial Value to calculate the most likely award price in an auction (to determine the Market Value using the assumptions in the 2018 ABI guidelines on NPL).
Premium was developed by Prelios Valuations in collaboration with BRaVE m&t (a spin-off of the Politecnico di Milano), Microsoft, Consodata and Agic Technology.