Construction of real estate models for feasibility analysis using regression and fuzzy rules
The feasibility study for launching a new property development is often carried out using simplified or subjective techniques. Careful market analysis should be an essential part of this process, in order to reduce part of the risk involved. More precise price estimations may be obtained using hedo...
Bewaard in:
| Hoofdauteurs: | , |
|---|---|
| Formaat: | Online |
| Taal: | por |
| Gepubliceerd in: |
ANTAC - Associação Nacional de Tecnologia do Ambiente Construído
2008
|
| Online toegang: | https://seer.ufrgs.br/ambienteconstruido/article/view/3718 |
| Tags: |
Voeg label toe
Geen labels, Wees de eerste die dit record labelt!
|
| Samenvatting: | The feasibility study for launching a new property development is often carried out using simplified or subjective techniques. Careful market analysis should be an essential part of this process, in order to reduce part of the risk involved. More precise price estimations may be obtained using hedonic price models, based on sales market data. However, estimating the market value of real estate through this process has also some drawbacks, such as imprecision of the boundaries between different sub-markets. Fuzzy rules may be used for dealing with this type of imprecision, making it possible to improve the precision of market appraisal models. This paper presents an application of fuzzy rule-based systems, which have been adjusted by genetic algorithms. Two fuzzy systems were developed. The first one was based on the property area, and the second one was based on its location. Both were compared to a traditional hedonic regression model. The results have indicated that fuzzy rules may improve the quality of real state market analysis. |
|---|