Browse > Article
http://dx.doi.org/10.5351/KJAS.2020.33.5.603

Prediction and factors of Seoul apartment price using convolutional neural networks  

Lee, Hyunjae (Department of Statistics, Sungkyunkwan University)
Son, Donghui (Department of Statistics, Sungkyunkwan University)
Kim, Sujin (Department of Statistics, Sungkyunkwan University)
Oh, Sein (Department of Sports Science, Sungkyunkwan University)
Kim, Jaejik (Department of Statistics, Sungkyunkwan University)
Publication Information
The Korean Journal of Applied Statistics / v.33, no.5, 2020 , pp. 603-614 More about this Journal
Abstract
This study focuses on the prediction and factors of apartment prices in Seoul using a convolutional neural networks (CNN) model that has shown excellent performance as a predictive model of image data. To do this, we consider natural environmental factors, infrastructure factors, and social economic factors of the apartments as input variables of the CNN model. The natural environmental factors include rivers, green areas, and altitudes of apartments. The infrastructure factors have bus stops, subway stations, commercial districts, schools, and the social economic factors are the number of jobs and criminal rates, etc. We predict apartment prices and interpret the factors for the prices by converting the values of these input variables to play the same role as pixel values of image channels for the input layer in the CNN model. In addition, the CNN model used in this study takes into account the spatial characteristics of each apartment by describing the natural environmental and infrastructure factors variables as binary images centered on each apartment in each input layer.
Keywords
convolutional neural networks; image data; spatial data; apartment price;
Citations & Related Records
연도 인용수 순위
  • Reference
1 Abadi, M., Agarwal, A., and Barham, P., et al. (2015). TensorFlow: Large-scale machine learning on heterogeneous systems. Available from: https://tensorflow.org
2 Choi, C. S. (2010). A study on the existence of price bubbles in Korean housing market, Journal of the Korea Real Estate Society, 32, 177-199.
3 Hasan, M., Ullah, S., Khan, M. J., and Khurshid, K. (2019). Comparative analysis of SVM, ANN and CNN for classifying vegetation species using hyperspectral thermal infrared data, The International Archives of the Photogrammetry, Remote Sensing and Spatial Information Sciences, XLII-2/W13.
4 Lim, S. S. (2014). A study on the forecasting models using housing price index, Journal of the Korean Data & Information Science Society, 25, 65-76.   DOI
5 Pebesma, E. J. and Bivand, R. S. (2005). Classes and methods for spatial data in R, R News, 5. Available from: https://cran.r-project.org/doc/Rnews/.
6 Wickham, H. (2017). tidyverse: Easily install and load the 'Tidyverse'. R package version 1.2.1. https://CRAN.R-project.org/package=tidyverse.
7 Yoo, C., Han, D., Im, J., and Bechtel, B. (2019). Comparison between convolutional neural networks and random forest for local climate zone classification in mega urban areas using Landsat images, ISPRS Journal of Photogrammetry and Remote Sensing, 157, 155-170.   DOI
8 Yoo, J.-S., Lim, K.-C., and Kie, S.-D. (2007). The empirical analysis of the bubble in housing price and land price, Journal of Industrial Economics and Business, 20, 2245-2264.
9 Yu, L., Jiao, C., Xin, H., Wang, Y., and Wang, K. (2018). Prediction on housing price based on deep learning, International Journal of Computer and Information Engineering, 12, 90-99.
10 Zhang, F., Du, B., and Zhang, L. (2017). A multi-task convolutional neural network for mega-city analysis using very high resolution satellite imagery and geospatial data. arXiv preprint arXiv:1702.07985.