Two Romanian entrepreneurs, Andrei Diaconu and Matei Malos, have developed a new digital product for the Romanian real estate market, which helps buyers analyze housing in new residential complexes. ImoDoc.ro is the first professional property review platform dedicated to Romanian clients, offering complete analysis by real estate consultants, structural and installation engineers, architects and lawyers specializing in real estate.
Buyers or investors interested in buying a home in a new residential complex now have a digital tool that offers them a complete analysis of all aspects of the property they want to buy.
The ImoDoc.ro platform includes detailed reports about the property, including information about the investment, infrastructure and facilities, construction quality, architectural comfort, finishes, the financial situation of the development company, as well as legal advice on risk identification in the procurement process.
As the market offer is increasingly varied, the platform comes to support customers and help them make informed decisions about buying a property. Between 2019 and 2020, it is estimated that the number of new dwellings built in the Bucharest-Ilfov region will double compared to the last two years, reaching approximately 40,000 units.
At the same time, the need for quality housing is high, especially as low-cost housing has been built over the last ten years, and the bureaucracy of permits has considerably delayed many large-scale real estate projects. Moreover, in the context of increased demand and limited supply, there has been an accelerated rise in house prices of up to 15-20 percent in 2017, and now there is a downward pressure.
Supply is higher than demand, which causes developers to structure competitive offers, both qualitatively and financially.
”Through the product that we are introducing to the market, we are trying to test a number of assumptions that will help us build a digital real estate agent. The idea was outlined when we started the process of buying an apartment and realized how difficult it was for the buyer, but also how much space for innovation there is,” says Andrei Diaconu, co-founder of ImoDoc.ro.
Reviews are made with the help of a team of residential experts, including real estate consultants, structural engineers and installers, architects and lawyers specializing in real estate.
”Fortunately for consumers, we are seeing increasing competitiveness in the supply of new housing, and the quality of the environment in which we live influences the economic and social development of the communities. For 90 percent of buyers, real estate is the primary form of saving, including when buying the first home. However, the acquisition decision is extremely important, especially since it often comes from a 20 or 30-year credit and involves living in that medium- or long-term real estate,” said Matei Malos, co-founder of ImoDoc.com.
The platform currently contains reports for some new residential complexes in Bucharest, but the service will be available nationwide, and other reviews can be developed at the request of customers. The service also includes a counseling session with a real estate consultant specializing in representing the buyer.
ImoDoc.ro is developed by Andrei Diaconu, an entrepreneur with broad experience working on mainly international digital platforms, in partnership with Matei Malos, an entrepreneur with solid experience in proptech, through the previous development of local projects in real estate such as HomeFinders.ro or Directimo.ro.