Open AccessPricing modeling in the housing market with urban infrastructure effect
Author(s) -
Vladislav Koktashev,
Vladimir Makeev,
E. Shchepin,
Pavel Peresunko,
V. S. Tynchenko
Publication year - 2019
Publication title -
journal of physics. conference series
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.21
H-Index - 85
eISSN - 1742-6596
pISSN - 1742-6588
DOI - 10.1088/1742-6596/1353/1/012139
Subject(s) - business , urban infrastructure , industrial organization , economic geography , urban planning , economics , engineering , civil engineering
Nowadays in many large industrial enterprises, one of the motivational incentives for hiring employees, as well as for encouraging them, is the provision of temporary or permanent use of residential real estate. This raises the question of choosing the best option of the property from a variety of proposals on the market. This article addresses the issue of estimating the value of residential property in the city of Krasnoyarsk. The descriptive signs of the apartment were not only its internal parameters, such as the area or number of rooms, but also the external characteristics that describe the environment of the apartment house. The data on the apartments were taken from the website of the apartment sales announcements and from various open data sources. The number of organizations of each type considered within a radius of 1000 m serves as a quantitative measure of the house environment. The model built using a random forest showed good results and solved the problem. The relative error of the forecast was 8%. In addition, it was shown the positive impact of the apartment external characteristics on the quality of the constructed model. As a result, an easily scalable model was built that can be applied to other cities.