An Improved Model for House Price/Land Price Prediction using Deep Learning

2022 ◽  
pp. 76-87
Author(s):  
Basetty Mallikarjuna ◽  
Sethu Ram M. ◽  
Supriya Addanke ◽  
Munish Sabharwal

House price predictions are a crucial reflection of the economy; sometimes house prices include the land prices and demand of the place and location. The house price and land price are two different things, but both are important for both buyers and sellers. This chapter introduced the combination of ML and DL approaches to predict the house price with the updated regression algorithm. The algorithm named as ‘Mopuri algorithm' reads the 14 attributes like crime rate, population density, rooms, etc. and produces the cost estimation result as a prediction. The proposed model accurately estimates the worth of the house as per the given features. The results of the model tested with the different datasets existing in the Kaggle data source using Python libraries with the Jupyter platform and continuation of the model using the Android OS to develop the smart home web-based application.

2011 ◽  
Vol 17 (2) ◽  
pp. 157-167 ◽  
Author(s):  
Yousef Baalousha ◽  
Tahir Çelik

Estimating is a fundamental part of construction projects. Accurate cost estimate is the single most important element involved in the series of events that leads to a profitable completion of a contract in construction industry. The success or failure of a project depends on the accuracy of cost estimation. A cost estimate becomes more difficult and more complicated under inflationary medium. An unpredictable inflation rate and long progress payment delay during this period makes the budgeting function very difficult, if not impossible. The cost estimation process uses lots of data. The availability of the appropriate data at the appropriate time is one of the main factors affecting the accuracy of the cost estimation. As the complexity of the estimating task increases computerized system becomes increasingly important. The estimator should develop a good system of estimating forms and procedures that exactly meet the requirements of the pro- ject, and that is understood and accessible by all team members. This system should provide the ability to define material, labor hour and equipment hour quantities required for the project. Material, labor, and equipment unit costs are then applied to the bill of quantities. This paper presents An Integrated Web-Based Data Warehouse and Artificial Neural Net- works Model for Unit Price Analysis with Inflation Adjustment system called “DANUP“. Web facilities and database management capabilities of Microsoft Visual Studio 2005 are applied to create a data warehouse which is mainly aimed to integrate data from multiple heterogeneous databases and other information sources. The System also supports integrated cost index for adjusting the effect of inflation during estimating process. An artificial neural network model for forecast- ing the cost indices in Turkey for the project period has been developed. A construction project takes relatively long time to complete, effective communication among the project participants during the project period is important. A web based system is developed to facilitate the collection of construction cost information and communication. The web based sys- tem focuses on demonstrating the potential of data centric web data bases in enhancing the communication process during project execution. End users can access the database through the internet and perform certain transactions according to their authorization. Santrauka Sąmatos sudarymas – esminė statybos projektų dalis. Tiksli sąnaudų sąmata – vienas svarbiausių elementų, susijusių su įvykiais, kurie statybų sektoriuje leidžia pelningai įvykdyti sutartį. Projekto sėkmė arba žlugimas priklauso nuo to, ar tiksliai įvertintos sąnaudos. Infliacinėje aplinkoje sąnaudas įvertinti sunkiau ir sudėtingiau. Dėl neprognozuojamo infliacijos lygio ir ilgalaikių dalinių mokejimų vėlavimo per tokį laikotarpį biudžetą numatyti itin sunku, o gal net neįmanoma. Vertinant sąnaudas reikia gausybės duomenų. Galimybė reikiamu metu gauti reikiamus duomenis – vienas pagrindinių veiksnių, darančių įtaką sąnaudų sąmatos tikslumui. Kadangi sąmatas sudaryti vis sudėtingiau, vis svarbiau yra naudoti kompiuterizuotas sistemas. Sąmatininkas turi suformuoti gerą sąmatų sudarymo formų ir procedūrų sistemą, tiksliai atitinkančią projekto reikalavimus, suprantamą ir prieinamą visiems komandos nariams. Tokioje sistemoje reikia funkcijos, leidžiančios nurodyti projektui reikalingų medžiagų, darbo valandų ir įrangos naudojimo valandų skaičius. Tuomet medžiagų, darbo ir įrangos vienetų kainos įtraukiamos i sąmatą. Šiame darbe pristatoma integruoto internetinio duomenų saugyklos ir dirbtinių neuroninių tinklų modelio, tinkamo analizuoti vieneto kainą, atsižvelgiant į infliacija, sistema, pavadinta ”DANUP“. Naudojant Microsoft Visual Studio 2005 internetines ir duomenų bazių valdymo funkcijas, sukuriama duomenų saugykla, kurios svarbiausias tikslas – integruoti iš daugybės heterogeninių duomenų bazių ir kitų informacijos šaltinių gautus duomenis. Be to, naudojant sistemą galima sudaryti integruotą sąnaudų indeksą, kuris sudarant sąmatą leidžia įvertinti infliacijos poveikį. Buvo sukurtas dirbtinio neuroninio tinklo modelis, leidžiantis Turkijoje prognozuoti sąnaudų indeksus, kurie galios vykstant projektui. Statybos projektas trunka gana ilgai, taigi vykdant projektą svarbu, kad bendravimas tarp jo dalyvių būtų efektyvus. Buvo sukurta internetinė sistema, padedanti rinkti informaciją apie statybų sąnaudas ir bendrauti tarpusavyje. Pagrindinis internetinės sistemos tikslas – parodyti, kaip, remiantis duomenų kiekiu grindžiamomis internetinėmis duomenų bazėmis, vykdant projektą galima pagerinti komunikaciją. Galutiniai vartotojai duomenų bazę gali pasiekti internetu ir, priklausomai nuo prieigos lygio, atlikti tam tikras operacijas.


2017 ◽  
Vol 23 (1) ◽  
pp. 85-95 ◽  
Author(s):  
Neda SHAHRARA ◽  
Tahir ÇELIK ◽  
Amir H. GANDOMI

This article utilizes gene expression programming (GEP) technique to develop a prediction model in order to automate estimating the construction cost of water and sewer replacement/rehabilitation projects. A database gathered for developing the model was established on the basis of data related to 210 actual water and sewer projects obtained from the City of San Diego, California, USA. To verify the predictability of the GEP model, it was examined to estimate the cost of the projects that were not included in the modelling process. Sensitivity analysis technique and professional experiences were employed to determine the contributions of the qualitative factors and quantifiable parameters affecting the cost estimate. The proposed model with correlation coefficient of 0.8467 is adequately capable of estimating the cost of water and sewer replacement/rehabilitation projects. The GEP-based design equation can easily be used for predesign purposes to help allocate budgets and available limited resources effectively.


2020 ◽  
Vol 18 (13) ◽  
Author(s):  
Zaemah Zainuddin ◽  
Rosylin Mohd Yusof

In Malaysia, the housing ownership is reported to decrease from 85% in 1999 to 72.5% in 2010. This is due to the outstripped increase of house price over the income level and the unstable economic situation which creates unaffordability to own a house for many people. Therefore, the main objective of this study is to examine whether the price of terrace houses in Penang is being affected with fundamental factors such as inflation, interest rates and the cost of renting. This study uses multivariate regression analysis with quarterly data of terrace house prices (HPI terrace house in Penang), inflation (CPI) and interest rate (mortgage rates) from 2009: Q1 to 2016: Q4. Evidently, the cost of renting terrace houses in Penang does not have any impact on the price of terrace houses and the stable movement of cost of renting indicates that the growth of rental rate is at acceptable price for middle income earners.


Author(s):  
Shiau Hui Kok ◽  
Normaz Wana Ismail

In this paper, we examine the relationship between house price and Islamicbank stability in Malaysia. In particular, in relating to Islamic bank stability toMalaysian house price changes, we evaluate the nature of the relationship from theperspective of nonlinearities. The Autoregressive Distributed Lag (ARDL) modelis applied to a sample that consists of 9 Islamic banks in Malaysia for the periodof 2000-2016. Our results indicate that there is an inverted U-shaped relationshipbetween house price and Islamic bank stability in the long run. Meanwhile, therelationship is insignificant in the short-run. To put it differently, initially, thehigher house prices, the more stable the bank. Then, the impact of house prices onbank stability becomes negative when house prices surpass the threshold point.As far as the bank-specific characteristics are concerned, the cost to income ratiois found to significantly and negatively related to the bank stability. Such a resulthas policy implications in which it is crucial for achieving balance in the housingmarket, and efficiently managing the cost is equally important to ensure Islamicbank soundness.


Author(s):  
Varun Gupta ◽  
Aditya Raj Gupta ◽  
Utkarsh Agrawal ◽  
Ambika Kumar ◽  
Rahul Verma

The firm or the government invites bids against the tender whenever it requires third party to provide services to it like undertaking construction projects, delivery of material, etc. Interested parties gives their bid prices in sealed envelopes and the lowest bid rate wins the contract. However, contractor, in order to win the contract, may not estimate the cost of the project accurately as the estimation of factors contributing to the costs may be based on educated guesswork according to the past experiences. This increases the chances of the final cost of the project to go up in the end, which is to be borne by contractor. Hence, accurate and effective cost estimation is required. This chapter proposed an algorithm to provide a proper way for the contractors to estimate the accurate cost of the project for which they provide bids. This chapter provides an effective solution to the problem of inaccurate cost estimation. The algorithms are automated using a web-based tool.


2020 ◽  
Vol 5 (6) ◽  
pp. 45
Author(s):  
Jabar H. Yousif ◽  
Saif N. Abdul Majeed ◽  
Fouad J. I. Al Azzawi

Quantity Surveying (QS) is a process concerned with controlling and managing the costs of construction projects. QS Measurement relies on sophisticated measurement rules that are understood by experienced practitioners. Traditional QS systems, such as standard paperwork, are time-consuming and only approximate the cost estimate. This paper aims to design and deploy a web-based framework for automating the cost estimation of concrete construction, using ASP.NET. It introduces a user-friendly interface, which ensures that the work is completed in the chronological order of the construction phases. The proposed QS framework offers a reliable and time-efficient estimation method, in comparison to other methods (i.e., human labor using paper or Excel), which was tested using real data and was validated by experts and consultant companies. Furthermore, it automated the reading of project information from construction maps, which reduced errors when estimating costs. It could also automatically determine the project location using Google Maps and could quickly guide the user to the location. The proposed QS framework automated the manual and Excel work of cost computing with an accuracy of 99%, reducing human calculation errors. It also effectively reduced the calculation time to only three days (compared to 114 days of manual work or 19 days of Excel work). The comparison result of the Quantity Surveyor’s average paid salary indicated that using web-based QS framework helps in reducing the cost estimation time and labor costs.


2019 ◽  
Vol 2019 ◽  
pp. 1-10 ◽  
Author(s):  
Sae-Hyun Ji ◽  
Joseph Ahn ◽  
Hyun-Soo Lee ◽  
Kyeongjin Han

Construction projects require huge amounts of capital and have many risk factors due to the unique industry characteristics. For a project to be successful, accurate cost estimation during the design phase is very important. Thus, this research aims to develop a cost estimation model where a modification method integrates influential factors with significant parameters. This study identified a modified parameter-making process, which integrates many influential factors into a small number of significant parameters. The proposed model estimates the cost using quantity-based modified parameters multiplied by their price. A case study was conducted with 24-residence building project, and the estimation accuracy of the suggested method and a CBR model were compared. The proposed model achieved higher overall cost-estimation accuracy and stability. A large number of influence factors can be modified as simple representatives and overcome the limitations of a conventional cost estimation model. The paper originality relates to providing a modified parameter-making process to enhance reliability of a cost estimation. In addition, the suggested cost model can actively respond to the iterative requirements of recalculation of the cost.


Author(s):  
Alexandre E. Gue´rinot ◽  
Gregory M. Roach ◽  
Jordan J. Cox

This paper proposes a method for creating a parametric cost model established on the foundation of the product design generator methodology to provide early estimates of production cost and manufacturing cycle-time during preliminary design. This is accomplished by capturing the manufacturing process and knowledge associated with the product and its production. The relationships between design decisions and manufacturing costs are explicitly exposed making the cost estimation process reusable and repeatable. Designers can now clearly assess the profitability of their design, identify appropriate trade-offs between engineering requirements and production costs, and alter the design accordingly.


Author(s):  
Khurram Ejaz ◽  
Ayesha Amjad

<p>Requirement prioritization play a significant part in overcoming problems related to requirements and it use to increase customer satisfaction. Requirement prioritization is use to verify the correct functionality of product and guarantee that the software is built within the given constrains, like budget, cost, value, time and etc. Requirements prioritization reliant on the specific requirements of customer along with prediction of importance and cost of each requirements. The approaches proposed in modern days to prioritize requirements have not been widely used because of its complexity, its inconsistency and its time-consuming factor. This paper represents an analysis on obtainable prioritization techniques based on cost and benefit and drawbacks evaluation of requirements. This paper represents a new approach of requirement prioritization, which can be easily managed, implemented and used as decision-making device by decision maker for requirement prioritization. It also overcomes the drawback of existing requirement approaches. The results of newly proposed approach shows that<br />proposed model for requirement prioritization is simple and is useful for more refined critical decisions of prioritization, keeping in view the cost and benefit.</p>


Land ◽  
2021 ◽  
Vol 10 (3) ◽  
pp. 261
Author(s):  
Yi Huang ◽  
Geoffrey Hewings

This paper focuses on the physical attributes of land that intrinsically limit land use and possibly affect land values. In particular, we investigate if the slope of a land does decrease its price and investigate the role of land slope in forming more reliable constant-quality land price indices and aggregate house price indices. We find that, while land slopes do decrease the land price per unit, they have a small effect on the quality-adjusted land price indices in selected neighborhoods in Auckland, New Zealand, where sloped terrain is common.


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