Home » News » CBRE told ads for off-plan property investment units with ‘estimated ROI’ must be proven previous nextRegulation & LawCBRE told ads for off-plan property investment units with ‘estimated ROI’ must be provenComplaint against property consultancy is upheld by advertising watchdog over estimated ROI of up to 4.9% quoted in online brochure.Nigel Lewis10th October 201802,790 Views Leading property consultancy CBRE has been told not to advertise off-plan investment properties using estimated rental values and gross returns unless they can substantiate their claims, and that the figures used to do so must be clear in the ads.This judgement throws a considerable spanner into the property investment sector which until now has been able to make largely unsubstantiated claims about return on investment.The Advertising Standards Authority (ASA) received a complaint about an advert CBRE had published online for a newbuild tower it was marketing in The City called One Crown Place, EC2., which is being built by Malaysian firm AlloyMtd.In a section marked ‘key facts and services’ a link loaded an online brochure that made claims for estimated gross yields at the development of up to 4.9% depending on the property size.Property investmentThe complainant said they did not believe these yield figures were representative of the market in the area, and said the way they had been calculated had not been made clear.CBRE then made detailed representations to the ASA saying it was confident of the figures and that they had been based on 11 recent tenancies at a nearby and comparable development called The Heron using data from Lonres and Rightmove.“The CAP Code requires that the basis used to calculate any rate of interest, forecast or projection must be apparent immediately,” the ASA says.But the ASA has upheld the complaint, saying CBRE had not explore the criteria on which it had picked properties in The Heron to compare its developments with, that the prices within the Rightmove data were asking not sale prices. It also said the CBRE had not provided evidence of how it calculated the estimated rental value or gross returns.“We told CBRE to ensure that similar ads in the future did not quote estimated rental values and average gross yields from letting properties, unless they held adequate evidence to substantiate the claims.“We also told CBRE to ensure that the basis used to calculate the estimated rental values and average gross yields were made clear in the ads.”Read more about recent ASA judgements.One cRown place advertising standards authority ASA CBRE October 10, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021
according to foreign media news, the United States to buy the ticket tool FLYR was $8 million A round of financing, leading investors from Peter Thiel fund. According to relevant information, FLYR previously received a $3 million 700 thousand seed financing Streamlined Ventures and Montage Ventures lead investment. Flyr branch in Europe has been the world’s largest insurance company Axa $500 thousand equity investment. So far, the company was founded less than two years has been more than 13 million U.S. dollars of financing.
FLYR is an artificial intelligence technology for the user to predict ticket prices. And by the insured, with the lowest price of the ticket purchase options for the user. Artificial intelligence, which is based on self built ticket price database and open industry data obtained. Of course, the company also through the establishment of a proprietary airline ticket price change model over the past year, to more accurately estimate the price of air tickets.
this practice is not new, the test is the ability to predict technology. First of all, users need to book a ticket in advance, and pay a deposit of $20 in a week, as long as the price is not more than 20 U.S. dollars, the user can directly mention the cheapest ticket purchase. When the price is reduced by more than 20 U.S. dollars, the system will automatically buy the lowest ticket for the user.
this is actually equivalent to the theory of air tickets in the insurance, but the difference is that the user is always the lowest price compensation.
in OTA under the premise of the "flow of monopoly, price difference to return" approach to a certain extent, eating some users and cash flow, similar to the company as well as Hopper and Options Away. Hopper completed $61 million 200 thousand C round of financing in December, known as the search accuracy reached 95%. Options Away and by airlines and travel agencies and other cooperation, using B2B2C approach, to provide services for users ticket price.
in response to competition, co-founder and CEO Jean Tripier said the new financing will be the main user to develop new products. Including business travel booking service, ticket booking solution, to expand the company’s product line. In order to compete with the two companies, the company said it would also predict the price and demand from the user to measure the intended behavior, in order to provide more intelligent ticket booking services.
is currently the company’s main business in North America and europe. Jean Tripier said that in order to expand the market, the company will expand its business to other countries in Asia and other countries.
of course, and the ticket price forecast in the same track in the same track search engine. For example, 36 krypton reported Skyscanner day last month by Ctrip acquired the domestic tour, there are similar travel iGola, riding a goose fly with me.