Cyprus real estate analytics company Ask Wire won two gold and platinum awards at the recently held AI and Data Awards 2026 in Athens for its practical application of artificial intelligence and data analysis.
According to the announcement, the company received Gold awards in the categories of “Best Use of AI/Data for Business Transformation” and “Best Use of Data Analytics.”
In the latter category, the company also achieved platinum certification based on its performance compared to other award-winning companies.
This difference relates to real-world applications of AI and data in the real estate sector. In the real estate sector, until recently, even large institutional investors often had to make decisions based on limited or delayed information.
As such, Ask Wire stood out in its automated integration and enrichment of real estate data extracted from tens of thousands of real-world transactions.
At the same time, it continuously monitors all new construction projects in Cyprus and Greece and also produces automatic valuation and evaluation reports for use by market experts.
The evaluation committee reviewed submissions from Greek and international companies operating across sectors such as healthcare, industry and financial services. Entries were evaluated not only on theoretical innovation, but also on measurable criteria such as accuracy, usefulness, and everyday productive use.
Beyond the award itself, this honor draws attention to the structural weaknesses, lack of transparency and timely and reliable information affecting both the Cypriot and Greek real estate markets.
In reality, real estate advertisements often include multiple listings for the same property, although actual transaction data is available with a lag of several months.
As a result, the picture of available supply is often distorted and, in turn, prices do not necessarily reflect real demand.
Our analysis shows that in a given region, the actual value of properties with similar characteristics can show a difference of 15-20% due only to incomplete or fragmented information.
This affects not only individual buyers, but also banks, investment funds and public institutions, which are often required to make decisions with significant financial impact with limited visibility.
At the same time, systematic data utilization has made it possible to analyze tens of thousands of real transactions, remove hundreds of thousands of duplicate advertisements, and extract structured information from descriptions, technical brochures, and urban planning documents.
“Continuous information on construction phases and absorption can also be used to plan new developments at national level,” explains Ask Wire CEO Pavlos Loizou.
However, he added, “Technology alone is not enough. The lack of a single central transaction register, delays in publishing official data, and lack of standardization of advertising continue to make comparative analysis difficult.”
Furthermore, Loizou points out that transparency does not automatically lead to lower prices or a reduction in demand-supply imbalances.
“But blind decisions can be reduced,” Loizou said, concluding that “information accuracy and transparency constitute a fundamental and increasingly necessary change in markets that directly impact households, businesses and financial stability.”
