Digitizing the real estate industry with Nomoko Platform
Through Digital Twins, Nomoko Platform is redefining how developers and investors operate in the real estate market. Here’s what it can do.
Built by Nomoko, Nomoko Platform is a web app that harnesses the power of Digital Twins to help developers and investors find, analyze and contextualize new real estate projects quickly, easily and cost effectively.
Nomoko Platform is the next step in the digitalization of the real estate industry and a giant leap in the application of technology to drive better user experiences. It uses Digital Twins to create unrivalled market insight, inform data-driven decision making, speed up and refine property search and streamline investor and developer workflows.
What problems does Nomoko Platform solve?
Nomoko Platform is designed to serve professionals across the real estate industry. In its first phase it focuses on those working primarily at the investment stage of the real estate lifecycle – investors, developers, acquisition managers and brokers. As the Nomoko ecosystem grows with new features and functions it becomes more relevant to the plan, build and manage lifecycle stages – everyone from architects and real estate agents to data providers, logistics companies, property managers and more.
“Think of it like a search engine for real estate.”
Searching for properties that match specific project criteria is time consuming and tedious, especially when working at an urban scale. Factoring in development and investment parameters while understanding context both of the physical environment and the investment opportunity are challenges every real estate project faces.
Nomoko Platform brings together a set of tools and data sources and integrates them with high resolution interactive maps to create Digital Twins of entire cities that are searchable at large scale. Filters help refine results to keep them relevant and every property is defined with unique data sets that contextualize investment potential with numerous data points, allowing for large scale analyses to find the right opportunities. And all of it presented in a visually rich and detailed interface that’s easy to navigate and use.
“Nomoko Platform leverages and simplifies real-time Big Data into filtered data sets you can refine to make better, data-led decisions.”
What are the current capabilities of Nomoko Platform?
Search lets you explore the entire canton of Zürich for specific types of property
Search for properties in seconds by postcode, address and district. Individual property results will appear on the map as icons so you can see them in the context of their surroundings and explore them visually.
Filters let you refine your search to meet your project criteria
Filters make it easy to find the properties that best match your project parameters, saving you time and effort. Nomoko platform allows you to filter properties based on Added floor potential (to search for properties that could be developed and extended with added floors), Building use, Year of construction, Price per square meter and many other variables.
Property twins give you all the data you need to analyze a property
Each searchable real world property in the canton of Zürich has a twin in Nomoko Platform that’s loaded with relevant data covering a growing range of topics. The core plot and building snapshot includes the Building use, Property Price, Main legal zone and the year the property was first built.
The detailed property analysis is presented in four separate data sections arranged under Spatial, Legal, Location and Market tabs.
- Spatial data tells you about the property and plot. It includes the Total plot area, the Utilization ratio – referred to in German as the Ausnützungsziffer, it describes the usable space as a ratio of the entire plot – the Total number of floors, the number of Floors with living space and the Price per square meter for the overall plot among other data points.
- Legal data describes the laws and regulations in place as well the property’s status and is a category you’re going to see grow exponentially over coming releases. As each property has so much legal information attached, rather than represent it all within Nomoko Platform you have the option to download an easy-to-read Legal report as a PDF with all the information you might need, from property details to land registry zoning.
- Location data provides information on the property’s neighborhood and data-fed ratings covering different aspects of the property’s location, including accessibility to Amenities, Public transport, Noise levels, Views, Orientation, Tax levels, Social demographics, and Residential and Retail rental prices.
- Market data shows the Gross and Net rental values for the property.
Data layers contextualize a property in its static and dynamic environments
Selecting a data layer in the menu will add it to the entire map. You can explore different data sets across the city or use them to better understand a specific neighbourhood – great for getting to know a property in the context of its surroundings. Data layers include:
- Legal layers, separated into two:
- The Zoning layer shows which areas of the city sit in which official land use planning zones, labelled and colour coded with a simple index so they’re easy to see on the map. This helps developers understand what construction laws will be in place and whether an area is suitable for development.
- The Cadastral layer shows information about land ownership and use with buildings and land parcels clearly outlined, labelled and colour coded with a simple index so they’re easy to identify on the map.
- Points of interest, including Groceries, Restaurants and Education data layers. Select one or all and you’ll see icons pop up on the map showing you where they’re located and what they’re called.
- Transport, covering public transport networks and commute times.
How did user feedback help develop and refine Nomoko Platform to make it ready for market?
With a data-focused solution like Nomoko Platform, the devil really is in the details.
“With Nomoko Platform, we’ve always strived to serve customer needs with a relentless focus on the smallest details,” says product manager, Vaibhav Sawhney. To this end, as soon as possible the team put Nomoko Platform in its earliest form in the hands of the people who it targeted – real estate professionals. “By selecting people in the real estate market as beta testers, we got real insight into their daily workflows and could take their feedback on board,” adds Vaibhav.
“Knowing what works and what needs to improve as fast as possible helped define priorities. For example, we had to find the right balance between the high value data sets we could deliver internally at Nomoko and identifying key strategic data partners who could provide other vital data sets.”
“We went back to the drawing board repeatedly, improving our learning through interviews with industry experts across different parts of the real estate value chain. Working in this way we achieved a cadence of two-to-four-week development cycles followed by two weeks of feedback and testing.
“We’re adding new features, functionalities and data points all the time and have some exciting additions for our next release, including more granularity in our spatial data and new data layers for transport hubs and lines and commute times.”
Our vision is to take what is currently a very fragmented market and provide a better holistic infrastructure that unifies it for everyone.
In the future Nomoko Platform will grow into an ecosystem that democratizes the real estate industry where businesses of any size can access and provide solutions and data to help drive growth and prosperity across every sector.