Influence of external features on housing price. A study in the city of Valencia
Cózar Lizandra, Andrésa; Llorca Ponce, Aliciab and Valero Cubas, Soledadc
aDepartment of Business Organization, Universitat Politècnica de València, Spain, bDepartment of Business Organization, Universitat Politècnica de València, Spain cDepartment of Computer Syistems and Computation, Universitat Politècnica de Valencia, Spain.
Abstract:
The aim of this work is to identify external variables which have an significative impact on housing price, for making, subsequently, a model able to reflect repercussions of different analysed variables. This study is made in 2017 and 2018 in the city of Valencia. The offered dwellings samples have been obtained requesting access to the Idealista Single Shareholder Corporation data base. Then, the information taken through a mining data process, has been transformed in an understandable structure for its subsequent use. The statistics sources of Valencia City Hall have been consulted as well. This study pretends to establish the influence of several external features such as accessibility, socialeconomic and natural environment, equipment levels and amenities. The number of analysed dwelling is 13.003.
Based on the selection of different variables through the application of factorial analyses techniques, those ones which can provide more acceptable information for the definition of a subsequent housing price model, are selected. From 22 variables, the 8 selected are enough for representing each latent factor obtained. Afterwards, by means of regression analysis we establish a link between the main components of each factor and the housing price per sqm.
In following works, the results of this research next to others studies about influence of internal features are going to be use in order to make a complete model. The final aim of this study is the obtaining of suitable variables for developing a computational model of Artificial Neuronal Network which allow to estimate the housing prices with a minimal error.
Keywords: housing prices, factorial analysis, location variables, accessibility, neighbourhood facilities, Valencia city