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Prediction of Real Estate Market Prices with Regression Algorithms

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Advanced Technologies, Systems, and Applications VII (IAT 2022)

Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 539))

Abstract

The real estate market is one of the most productive businesses in the world. In recent years, many companies are considering switching to a data-driven approach due to many technological advances. In this regard, the field of artificial intelligence stands out the most from other computer science fields. It has the potential to significantly improve buying and selling strategies, as well as to increase investment opportunities in large commercial projects. In this paper, we investigate the possibility of using two machine learning algorithms to predict real estate prices using a real-world dataset of estate listing data. We show how to prepare and analyze this dataset, and then use machine learning algorithms to accurately predict real estate sales prices. Experimental results show very promising results, thus indicating the potential of using machine learning in real-life scenarios.

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Author information

Authors and Affiliations

  1. Faculty of Electrical Engineering, Department for Computer Science and Informatics, University of Sarajevo, Zmaja od Bosne bb, 71000, Sarajevo, Bosnia and Herzegovina

    Lamija Lemeš & Amila Akagic

Authors
  1. Lamija Lemeš
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  2. Amila Akagic
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Corresponding author

Correspondence to Lamija Lemeš .

Editor information

Editors and Affiliations

  1. University of Sarajevo-Faculty of Civil Engineering, Sarajevo, Bosnia and Herzegovina

    Naida Ademović

  2. Faculty of Technical Engineering, University of Bihać, Bihać, Bosnia and Herzegovina

    Edin Mujčić

  3. University of Sarajevo-Faculty of Civil Engineering, Sarajevo, Bosnia and Herzegovina

    Medžida Mulić

  4. Faculty of Engineering and Natural Sciences, International Burch University, Sarajevo, Bosnia and Herzegovina

    Jasmin Kevrić

  5. University of Utah, Salt Lake City, UT, USA

    Zlatan Akšamija

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Lemeš, L., Akagic, A. (2023). Prediction of Real Estate Market Prices with Regression Algorithms. In: Ademović, N., Mujčić, E., Mulić, M., Kevrić, J., Akšamija, Z. (eds) Advanced Technologies, Systems, and Applications VII. IAT 2022. Lecture Notes in Networks and Systems, vol 539. Springer, Cham. https://doi.org/10.1007/978-3-031-17697-5_32

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