An integrated approach based on artificial intelligence using ANFIS and ANN for multiple criteria real estate price prediction
A relatively high level of precision is required in real estate valuation for investment purposes. Such estimates of value which is carried out by real estate professionals are relied upon by the end-users of such financial information having paid a certain fee for consultation hence leaving little...
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Malaysian Institute Of Planners
2021
|
| Subjects: | |
| Online Access: | http://eprints.utm.my/95391/1/KamalahasanAchu2021_AnIntegratedApproachBasedonArtificial.pdf |
| _version_ | 1796866011440349184 |
|---|---|
| author | A. Yakub, A. Mohd. Ali, Hishamuddin Achu, Kamalahasan Abdul Jalil, Rohaya O., Salawu A. |
| author_facet | A. Yakub, A. Mohd. Ali, Hishamuddin Achu, Kamalahasan Abdul Jalil, Rohaya O., Salawu A. |
| author_sort | A. Yakub, A. |
| collection | ePrints |
| description | A relatively high level of precision is required in real estate valuation for investment purposes. Such estimates of value which is carried out by real estate professionals are relied upon by the end-users of such financial information having paid a certain fee for consultation hence leaving little room for errors. However, valuation reports are often criticised for their inability to be replicated by two or more valuers. Hence, stirring to a keen interest within the academic cycle leading to the need for exploring avenues to improve the price prediction ability of the professional valuer. This study, therefore, focuses on overcoming these challenges by introducing an integrated approach that combines ANFIS with ANN termed ANFIS-AN, thereby having a reiteration in terms of ANN application to fortify price predictability. Using 255 property data alongside 12 variables, the ANFIS-AN model was adopted and its outcome was compared with that of ANN. Finally, the results were subjected to 3 different error testing models using the same training and learning benchmarks. The proposed model’s RMSE gave 1.413169, while that of ANN showed 9.942206. Similarly, using MAPE, ANN recorded 0.256438 while ANFIS-AN had 0.208324. Hence, ANFIS-AN’s performance is laudable, thus a better tool over ANN. |
| first_indexed | 2024-03-05T21:05:48Z |
| format | Article |
| id | utm.eprints-95391 |
| institution | Universiti Teknologi Malaysia - ePrints |
| language | English |
| last_indexed | 2024-03-05T21:05:48Z |
| publishDate | 2021 |
| publisher | Malaysian Institute Of Planners |
| record_format | dspace |
| spelling | utm.eprints-953912022-05-31T12:37:33Z http://eprints.utm.my/95391/ An integrated approach based on artificial intelligence using ANFIS and ANN for multiple criteria real estate price prediction A. Yakub, A. Mohd. Ali, Hishamuddin Achu, Kamalahasan Abdul Jalil, Rohaya O., Salawu A. HD Industries. Land use. Labor A relatively high level of precision is required in real estate valuation for investment purposes. Such estimates of value which is carried out by real estate professionals are relied upon by the end-users of such financial information having paid a certain fee for consultation hence leaving little room for errors. However, valuation reports are often criticised for their inability to be replicated by two or more valuers. Hence, stirring to a keen interest within the academic cycle leading to the need for exploring avenues to improve the price prediction ability of the professional valuer. This study, therefore, focuses on overcoming these challenges by introducing an integrated approach that combines ANFIS with ANN termed ANFIS-AN, thereby having a reiteration in terms of ANN application to fortify price predictability. Using 255 property data alongside 12 variables, the ANFIS-AN model was adopted and its outcome was compared with that of ANN. Finally, the results were subjected to 3 different error testing models using the same training and learning benchmarks. The proposed model’s RMSE gave 1.413169, while that of ANN showed 9.942206. Similarly, using MAPE, ANN recorded 0.256438 while ANFIS-AN had 0.208324. Hence, ANFIS-AN’s performance is laudable, thus a better tool over ANN. Malaysian Institute Of Planners 2021-10 Article PeerReviewed application/pdf en http://eprints.utm.my/95391/1/KamalahasanAchu2021_AnIntegratedApproachBasedonArtificial.pdf A. Yakub, A. and Mohd. Ali, Hishamuddin and Achu, Kamalahasan and Abdul Jalil, Rohaya and O., Salawu A. (2021) An integrated approach based on artificial intelligence using ANFIS and ANN for multiple criteria real estate price prediction. Planning Malaysia, 19 (3). pp. 270-282. ISSN 1675-6215 http://dx.doi.org/10.21837/PM.V19I17.1005 DOI:10.21837/PM.V19I17.1005 |
| spellingShingle | HD Industries. Land use. Labor A. Yakub, A. Mohd. Ali, Hishamuddin Achu, Kamalahasan Abdul Jalil, Rohaya O., Salawu A. An integrated approach based on artificial intelligence using ANFIS and ANN for multiple criteria real estate price prediction |
| title | An integrated approach based on artificial intelligence using ANFIS and ANN for multiple criteria real estate price prediction |
| title_full | An integrated approach based on artificial intelligence using ANFIS and ANN for multiple criteria real estate price prediction |
| title_fullStr | An integrated approach based on artificial intelligence using ANFIS and ANN for multiple criteria real estate price prediction |
| title_full_unstemmed | An integrated approach based on artificial intelligence using ANFIS and ANN for multiple criteria real estate price prediction |
| title_short | An integrated approach based on artificial intelligence using ANFIS and ANN for multiple criteria real estate price prediction |
| title_sort | integrated approach based on artificial intelligence using anfis and ann for multiple criteria real estate price prediction |
| topic | HD Industries. Land use. Labor |
| url | http://eprints.utm.my/95391/1/KamalahasanAchu2021_AnIntegratedApproachBasedonArtificial.pdf |
| work_keys_str_mv | AT ayakuba anintegratedapproachbasedonartificialintelligenceusinganfisandannformultiplecriteriarealestatepriceprediction AT mohdalihishamuddin anintegratedapproachbasedonartificialintelligenceusinganfisandannformultiplecriteriarealestatepriceprediction AT achukamalahasan anintegratedapproachbasedonartificialintelligenceusinganfisandannformultiplecriteriarealestatepriceprediction AT abduljalilrohaya anintegratedapproachbasedonartificialintelligenceusinganfisandannformultiplecriteriarealestatepriceprediction AT osalawua anintegratedapproachbasedonartificialintelligenceusinganfisandannformultiplecriteriarealestatepriceprediction AT ayakuba integratedapproachbasedonartificialintelligenceusinganfisandannformultiplecriteriarealestatepriceprediction AT mohdalihishamuddin integratedapproachbasedonartificialintelligenceusinganfisandannformultiplecriteriarealestatepriceprediction AT achukamalahasan integratedapproachbasedonartificialintelligenceusinganfisandannformultiplecriteriarealestatepriceprediction AT abduljalilrohaya integratedapproachbasedonartificialintelligenceusinganfisandannformultiplecriteriarealestatepriceprediction AT osalawua integratedapproachbasedonartificialintelligenceusinganfisandannformultiplecriteriarealestatepriceprediction |