Open AccessUse of Google Trends to Predict the Real Estate Market: Evidence from the United Kingdom
Author(s) -
Grzegorz Michal Bulczak,
AUTHOR_ID
Publication year - 2021
Publication title -
journal of the asian real estate society
Language(s) - English
Resource type - Journals
ISSN - 1029-6131
DOI - 10.53383/100332
Subject(s) - real estate , business , volume (thermodynamics) , real estate investment trust , online search , process (computing) , economics , financial economics , finance , computer science , world wide web , physics , quantum mechanics , operating system
This paper demonstrates how Google Trends data can be used to improve real estatemarket predictions. Online searches produce valuable data that precede economicdecisions. This study explores the usefulness of Google search engine data in predictingthe real estate markets. The results indicate that Google data can be an additionalsource of information for investors and policymakers. This analysis adds to the existingliterature that explores the role of behavioral factors in the decision-making process.Google Trends data are identified as an important predictor of real estate market pricesand sales volume.