| Title |
A Study on the Applicability of Neural Network Model for Prediction of the Apartment Market |
| Authors |
Nam, Young-Woo ; Lee, Jeong-Min |
| Keywords |
real estate market ; neural network model ; regression model ; hedonic price model |
| Abstract |
Neural network analysis is expected to enhance the forecasting ability for the real estate market. This paper reviews definition,structure, strengths and weaknesses of neural network analysis, and verifies the applicability of neural network analysis for thereal estate market. Neural network analysis is compared with regression analysis using the same sample data. The analyses modelthe macroeconomic parameters that influence the sales price of apartments. The results show that neural network analysisprovides better forecasting accuracy than regression analysis does, what confirms the applicability of neural network analysis forthe real estate market. |