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A Method for Merging Similar Zones to Improve Intelligent Models for Real Estate Appraisal

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Intelligent Information and Database Systems (ACIIDS 2015)

Part of the book series: Lecture Notes in Computer Science ((LNAI,volume 9011))

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Abstract

A method for property valuation based on the concept of merging different areas of the city into uniform zones reflecting the characteristics of the real estate market was worked out. The foundations of the method were verified by experimental testing the accuracy of the models devised for the prediction of real estate prices built over the merged zones. The experiments were conducted using real-world data of sales transactions of residential premises completed in a Polish urban municipality. Two machine learning techniques implemented in the WEKA environment were employed to generate property valuation models. The comparative analysis of the methods was made with the nonparametric Friedman and Wilcoxon statistical tests. The study proved the usefulness of merging of similar areas which resulted in better reliability and accuracy of predicted prices.

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Author information

Authors and Affiliations

  1. Department of Spatial Management, Wrocław University of Environmental and Life Sciences, ul. Norwida 25/27, 50-375, Wrocław, Poland

    Tadeusz Lasota & Edward Sawiłow

  2. Department of Information Systems, Wrocław University of Technology, Wybrzeże Wyspiańskiego 27, 50-370, Wrocław, Poland

    Bogdan Trawiński

  3. Faculty of Computer Science and Management, Wrocław University of Technology, Wybrzeże Wyspiańskiego 27, 50-370, Wrocław, Poland

    Marta Roman, Paulina Marczuk & Patryk Popowicz

Authors
  1. Tadeusz Lasota
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  2. Edward Sawiłow
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  3. Bogdan Trawiński
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  4. Marta Roman
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  5. Paulina Marczuk
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  6. Patryk Popowicz
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Corresponding author

Correspondence to Bogdan Trawiński .

Editor information

Editors and Affiliations

  1. Ton Duc Thang University, Ho Chi Minh city, Vietnam

    Ngoc Thanh Nguyen

  2. Wroclaw University of Technology, Wroclaw, Poland

    Bogdan Trawiński

  3. Bina Nusantara University, Jakarta, Indonesia

    Raymond Kosala

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Lasota, T., Sawiłow, E., Trawiński, B., Roman, M., Marczuk, P., Popowicz, P. (2015). A Method for Merging Similar Zones to Improve Intelligent Models for Real Estate Appraisal. In: Nguyen, N., Trawiński, B., Kosala, R. (eds) Intelligent Information and Database Systems. ACIIDS 2015. Lecture Notes in Computer Science(), vol 9011. Springer, Cham. https://doi.org/10.1007/978-3-319-15702-3_46

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  • DOI: https://doi.org/10.1007/978-3-319-15702-3_46

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-15701-6

  • Online ISBN: 978-3-319-15702-3

  • eBook Packages: Computer ScienceComputer Science (R0)

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