Housing Price Prediction - Machine Learning and Geostatistical Methods
Machine learning algorithms are increasingly often used to predict real estate prices because they generate more accurate results than conventional statistical or geostatistical methods. This study proposes a methodology for incorporating information about the spatial distribution of residuals, esti...
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| Format: | Article |
| Language: | English |
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Sciendo
2025-03-01
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| Series: | Real Estate Management and Valuation |
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| Online Access: | https://doi.org/10.2478/remav-2025-0001 |
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| _version_ | 1850094653045473280 |
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| author | Cellmer Radosław Kobylińska Katarzyna |
| author_facet | Cellmer Radosław Kobylińska Katarzyna |
| author_sort | Cellmer Radosław |
| collection | DOAJ |
| description | Machine learning algorithms are increasingly often used to predict real estate prices because they generate more accurate results than conventional statistical or geostatistical methods. This study proposes a methodology for incorporating information about the spatial distribution of residuals, estimated by kriging, into selected machine learning algorithms. The analysis was based on apartment prices quoted in the Polish capital of Warsaw. The study demonstrated that machine learning combined with geostatistical methods significantly improves the accuracy of housing price predictions. Local factors that influence housing prices can be directly incorporated into the model with the use of dedicated maps. |
| format | Article |
| id | doaj-art-e94037ea18bf4579acfbe61d56a9bfaa |
| institution | DOAJ |
| issn | 2300-5289 |
| language | English |
| publishDate | 2025-03-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Real Estate Management and Valuation |
| spelling | doaj-art-e94037ea18bf4579acfbe61d56a9bfaa2025-08-20T02:41:37ZengSciendoReal Estate Management and Valuation2300-52892025-03-0133111010.2478/remav-2025-0001Housing Price Prediction - Machine Learning and Geostatistical MethodsCellmer Radosław0Kobylińska Katarzyna11Department of Real Estate and Urban Studies, University of Warmia and Mazury in Olsztyn, Prawochenskiego 15, 10-724Olsztyn, Poland1Department of Real Estate and Urban Studies, University of Warmia and Mazury in Olsztyn, Prawochenskiego 15, 10-724Olsztyn, PolandMachine learning algorithms are increasingly often used to predict real estate prices because they generate more accurate results than conventional statistical or geostatistical methods. This study proposes a methodology for incorporating information about the spatial distribution of residuals, estimated by kriging, into selected machine learning algorithms. The analysis was based on apartment prices quoted in the Polish capital of Warsaw. The study demonstrated that machine learning combined with geostatistical methods significantly improves the accuracy of housing price predictions. Local factors that influence housing prices can be directly incorporated into the model with the use of dedicated maps.https://doi.org/10.2478/remav-2025-0001machine learninghousing pricesgeostatisticsc45c53r20r32 |
| spellingShingle | Cellmer Radosław Kobylińska Katarzyna Housing Price Prediction - Machine Learning and Geostatistical Methods Real Estate Management and Valuation machine learning housing prices geostatistics c45 c53 r20 r32 |
| title | Housing Price Prediction - Machine Learning and Geostatistical Methods |
| title_full | Housing Price Prediction - Machine Learning and Geostatistical Methods |
| title_fullStr | Housing Price Prediction - Machine Learning and Geostatistical Methods |
| title_full_unstemmed | Housing Price Prediction - Machine Learning and Geostatistical Methods |
| title_short | Housing Price Prediction - Machine Learning and Geostatistical Methods |
| title_sort | housing price prediction machine learning and geostatistical methods |
| topic | machine learning housing prices geostatistics c45 c53 r20 r32 |
| url | https://doi.org/10.2478/remav-2025-0001 |
| work_keys_str_mv | AT cellmerradosław housingpricepredictionmachinelearningandgeostatisticalmethods AT kobylinskakatarzyna housingpricepredictionmachinelearningandgeostatisticalmethods |