Abstract
House price forecasting is a major topic of interest to a wide range of stakeholders, from individuals to institutions to governments. Until now, predictions have been made using statistical models, but recently, there have been many studies using deep learning and machine learning. In particular, researchers are applying CNN (Convolutional Neural Networks) using image information. However, there have been no studies using image information in Korea. This paper aims to predict apartment prices in Seoul by using Kernel Density Estimation (KDE) to display satellite images and density information of shopping malls and amenities in the area and use them as input variables. In this paper, we collected housing transaction records, local income information, population density, and population data by age group from 2021 to 2022, and collected satellite images divided into zones through Naver Cloud Platform’s Static Map API. In particular, information on shopping malls, hospitals, parks, subway stations, and schools collected from the Open government data portal(www.data.go.kr) and Seoul open data square(data.seoul.go.kr) was converted into density information using KDE. The data collected in various forms was preprocessed to predict the actual transaction price of apartments calculated as a unit price per area. Regression model, multi-layer artificial neural network model, and CNN model were used as prediction models, and their predictive power was compared. The results are as follows. First, among the regression models, the model that adds shopping centre and amenity density information obtained from KDE to demographic and housing-related variables has a high predictive power. Second, the MLP model has a relatively high performance compared to the regression model. Third, the fusion of CNN and MLP performed the best when satellite image features, demographic and housing-related variables, and KDE characteristics were all used, compared to traditional multilayer neural networks and regression models. These results suggest that satellite imagery provides useful information for house price prediction, and we look forward to future research to improve the predictive power of satellite imagery and density information represented by KDE using CNN for house price prediction.
Translated title of the contribution | Prediction for Apartment Prices using Kernel Density Estimation(KDE) and Convolution Neural Network(CNN) |
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Original language | Korean |
Pages (from-to) | 33-53 |
Number of pages | 21 |
Journal | 상업교육연구 |
Volume | 37 |
Issue number | 6 |
DOIs | |
State | Published - Dec 2023 |