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...

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Main Authors:	González, Marco Aurélio Stumpf, Formoso, Carlos Torres
Format:	Online
Language:	por
Published:	ANTAC - Associação Nacional de Tecnologia do Ambiente Construído 2008
Online Access:	https://seer.ufrgs.br/ambienteconstruido/article/view/3718
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id	ojs-article-3718
record_format	ojs
spelling	ojs-article-37182008-11-21T23:29:31Z Construction of real estate models for feasibility analysis using regression and fuzzy rules Construção de modelos do mercado imobiliário para análise de viabilidade com regressão e sistemas de regras difusas González, Marco Aurélio Stumpf Formoso, Carlos Torres Análise de viabilidade; Regras difusas; Avaliação em massa; Mercado imobiliário; Algoritmos genéticos; Segmentação de mercado 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. O estudo de viabilidade para o lançamento de um novo empreendimento muitas vezes é realizado com base em critérios simplificados ou subjetivos. A análise cuidadosa do mercado é uma atividade essencial nesse processo, sendo importante para reduzir parte do risco. Podem-se obter estimativas mais precisas das receitas mediante a construção de modelos hedônicos com dados coletados no mercado. Entretanto, a avaliação do valor de mercado dos imóveis por esse processo também enfrenta dificuldades, tais como imprecisões nas transições entre diferentes submercados. As regras difusas constituem uma forma de consideração dessas imprecisões e permitem incrementar a precisão dos modelos de avaliação. Neste trabalho apresenta-se uma aplicação de sistemas baseados na técnica de regras difusas com ajustamento através de algoritmos genéticos. Foram desenvolvidos dois sistemas de regras difusas, sendo o primeiro baseado na área total dos imóveis e o segundo baseado na sua localização. Esses modelos foram comparados com o tradicional modelo hedônico de regressão. Os resultados indicam que essa técnica pode contribuir para melhorar a qualidade das avaliações no mercado de imóveis. ANTAC - Associação Nacional de Tecnologia do Ambiente Construído 2008-04-25 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://seer.ufrgs.br/ambienteconstruido/article/view/3718 Ambiente Construído; v. 6, n. 4 (2006); 19-31 Ambiente Construído; v. 6, n. 4 (2006); 19-31 Ambiente Construído; v. 6, n. 4 (2006); 19-31 1678-8621 1415-8876 por https://seer.ufrgs.br/ambienteconstruido/article/view/3718/2064 Direitos autorais 2016 Ambiente Construído https://creativecommons.org/licenses/by/4.0
institution	Universidade Federal do Rio Grande do Sul
collection	OJS
language	por
format	Online
author	González, Marco Aurélio Stumpf Formoso, Carlos Torres
spellingShingle	González, Marco Aurélio Stumpf Formoso, Carlos Torres Construction of real estate models for feasibility analysis using regression and fuzzy rules
author_facet	González, Marco Aurélio Stumpf Formoso, Carlos Torres
author_sort	González, Marco Aurélio Stumpf
title	Construction of real estate models for feasibility analysis using regression and fuzzy rules
title_short	Construction of real estate models for feasibility analysis using regression and fuzzy rules
title_full	Construction of real estate models for feasibility analysis using regression and fuzzy rules
title_fullStr	Construction of real estate models for feasibility analysis using regression and fuzzy rules
title_full_unstemmed	Construction of real estate models for feasibility analysis using regression and fuzzy rules
title_sort	construction of real estate models for feasibility analysis using regression and fuzzy rules
description	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.
publisher	ANTAC - Associação Nacional de Tecnologia do Ambiente Construído
publishDate	2008
url	https://seer.ufrgs.br/ambienteconstruido/article/view/3718
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Construction of real estate models for feasibility analysis using regression and fuzzy rules

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