Artificial Intelligence and the Mass Appraisal of Residential Apartments

Danny P.H. Tay · David Kim Hin Ho

135 citations0/0 files storedJournal of Property Valuation and Investment

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Housing Market and Economics Neural Networks and Applications Urban Planning and Valuation

Abstract

Introduces the theory of artificial neural networks (ANN). Discusses its application to the valuation of residential apartments. Compares the performance of the back propagation neural network (BP) model in estimating sale prices of apartments against the traditional multiple regression analysis (MRA) model. Concludes that the neural network model is an easy‐to‐use, black‐box alternative to the MRA model.

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1998Neural networks: the prediction of residential values 2004The Impact of Surrounding Land Use and Vegetation on Single-Family House Prices 2018Improving property valuation accuracy: a comparison of hedonic pricing model and artificial neural network 2020Machine Learning based Predicting House Prices using Regression Techniques 1997High‐tech valuation: should artificial neural networks bypass the human valuer?2003Residential property value and locational externalities 2012The potential of artificial neural networks in mass appraisal: the case revisited 2003International evidence on the predictability of returns to securitized real estate assets: econometric models versus neural networks

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