Using Genetic Algorithms for Real Estate Appraisals

Giudice, Vincenzo Del; Paola, Pierfrancesco De; Forte, Fabiana

doi:10.3390/buildings7020031

Cited by 60 publications

(35 citation statements)

References 60 publications

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“…As in the literature [51,52], to address endogeneity issues that might affect our results, we adopted other socio-economic variables at the urban level (also drawn from ISTAT data), such as the number of employees in services, retail, and tourism, the female employment rate, and the overall employment rate, which reflect the economic vitality of a city. Then, we obtained the per capita income from the Italian Ministry of Economy and Finance.…”

Section: Methodsmentioning

confidence: 99%

Immigrants and the City: The Relevance of Immigration on Housing Price Gradient

Antoniucci

Marella

2017

Buildings

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Foreign citizens are a more and more significant part of the population of Italian cities and society (8% of the country's total population), and they contribute to changes in the cultural, social, and economic structure of the country. Our aim was to assess the incidence of the immigrant population on urban house price polarization, as measured using an original indicator: the center-periphery housing price gradient. While there is ample literature on the relationship between average prices and immigrant populations, less research has been conducted on immigration and the housing price gradient on a national scale. This price gradient may indicate whether immigration contributes to changing the residential market, also possibly revealing segregation phenomena. We ran multivariate regressions in several steps on an original dataset of housing prices and socio-economic factors concerning 112 Italian provincial capitals to elucidate whether immigration is correlated with the housing market divide. Our main findings confirmed that larger immigrant populations coincide with steeper housing price gradients on a national scale. Our tests also demonstrated that the relevance of this phenomenon varies for different urban forms, confirming related to housing price dynamics between the cities of northern and southern Italy the relevance of urban density in elucidating.

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Section: Methodsmentioning

confidence: 99%

Immigrants and the City: The Relevance of Immigration on Housing Price Gradient

Antoniucci

Marella

2017

Buildings

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“…For small real estate sample sizes [15], Green [61] used statistical power analysis in order to compare the performance of several rules of thumb for how many subjects were required for multiple regression analysis. Marks et al [62] specifies a minimum of 200 subjects for any regression analysis.…”

Section: Data Descriptionmentioning

confidence: 99%

“…In particular, is it understood that the minimum dimension of real estate sample necessary to implement a statistical inference model is correlated to the number of independent variables explaining real estate characteristics [3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18].…”

Section: Introductionmentioning

confidence: 99%

Real Estate Appraisals with Bayesian Approach and Markov Chain Hybrid Monte Carlo Method: An Application to a Central Urban Area of Naples

et al. 2017

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Abstract:This paper experiments an artificial neural networks model with Bayesian approach on a small real estate sample. The output distribution has been calculated operating a numerical integration on the weights space with the Markov Chain Hybrid Monte Carlo Method (MCHMCM). On the same real estate sample, MCHMCM has been compared with a neural networks model (NNs), traditional multiple regression analysis (MRA) and the Penalized Spline Semiparametric Method (PSSM). All four methods have been developed for testing the forecasting capacity and reliability of MCHMCM in the real estate field. The Markov Chain Hybrid Monte Carlo Method has proved to be the best model with an absolute average percentage error of 6.61%.

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“…Market prices may be analysed by using several models [54][55][56]. In this study, the housing prices are taken from the OMI database since it is easily accessible and includes housing prices by town and by zone across the Italian territory.…”

Section: Housing Prices In the Two Metropolitan Areasmentioning

confidence: 99%

Housing Affordability in Metropolitan Areas. The Application of a Combination of the Ratio Income and Residual Income Approaches to Two Case Studies in Sicily, Italy

Napoli

2017

Buildings

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Abstract:Housing affordability problems have become more serious over the course of the last few decades and are now also affecting the middle-class, despite the fall in prices on the housing market. This study proposes a methodology to assess threshold-income as an index for measuring housing affordability by applying a combination of the ratio income and residual income approaches. The methodology is applied to two particular areas of Sicily in Italy as case studies consisting of medium-size metropolitan areas located in a less developed European region. The areas have been chosen on the basis of their different territorial structure: a polarized area that comprises a high-density city centre and a polynuclear urban region. The results are diversified for income level, as well as for town and urban zone, and allow us to compare the housing affordability problems between towns belonging to the same metropolitan area.

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Using Genetic Algorithms for Real Estate Appraisals

Cited by 60 publications

References 60 publications

Immigrants and the City: The Relevance of Immigration on Housing Price Gradient

Immigrants and the City: The Relevance of Immigration on Housing Price Gradient

Real Estate Appraisals with Bayesian Approach and Markov Chain Hybrid Monte Carlo Method: An Application to a Central Urban Area of Naples

Housing Affordability in Metropolitan Areas. The Application of a Combination of the Ratio Income and Residual Income Approaches to Two Case Studies in Sicily, Italy

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