Frankfurter Allgemeine Zeitung 19 October 2013 page 5
mapolis – How Ideas and Boldness change Society
M u n i c h - an online platform has managed to change the importance of the real estate industry within our society.
Just a few years ago the world was in a global, severe economic crisis. Loss of trust and reputation, criticism of exaggerated risky deals and manager salaries, non-transparent economic networks and investment products as well as the discussion about measures and consequences dominated public discourse.
This also had an impact on the real estate industry. Twelve real estate funds were closed down as a result of the crisis between October 2008 and October 2010, blocking nearly 40% of the approx. 80 billion Euros of investment money. The reason for closing them: the funds’ liquidity issues. German real estate funds lost returns: In 2007, an average of 5.7% was made, in 2008 only 4.7%, and just about 2% in 2009. Equity ratio went down, execution sales and devaluations were the result.
During that time, the open online platform for the real estate industry mapolis was founded.
Transparency and credibility were the seed a change of values was to grow from in the building and real estate industry.
A community evolved, the so-called mapolists, the idea of which was to use their knowledge to contribute to transparency and professionalism within the industry.
Basically, anyone can participate in mapolis. With a free membership, you can upload the profiles of buildings, companies and people and to connect them with each other. More and more people made use of the cleverly designed structure of the platform to get information required for their everyday business, investment or for their search for a place of their own to live in.
More and more high-quality information was uploaded to mapolis, and new functionalities kept being added. The information network is becoming denser and denser and has turned into a full documentation of existing real estate properties.
Through content which has been created and completed by users, mapolis virtually sells itself by now and keeps spreading rapidly: On an international level as well as on the private sector, mapolis is now the dominating “platform for real estate property”.