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Forecast of residential real estate prices in Slovakia using of neural networks

Author

Listed:
  • Miroslav Pánik
  • Andrej Adamušin

Abstract

The current turbulent development in the real estate market, not only in Slovakia but throughout Europe, is caused by several crises that have a global impact and partially resemble the situation in the market 15 years ago. One factor that negatively affects the real estate market in Slovakia is the lack of residential real estate. In the long term, the demand for housing significantly exceeds the supply of apartments.The article analyzes the prices of real estate intended for housing in Slovakia. It defines economic, demographic and social factors that have a significant impact on the development of real estate prices. The methodology of statistical data collection differs considerably in the developed countries of the EU. Národná banka Slovenska has been publishing quarterly data on real estate prices since 2005. Development modeling is possible, for example, using correlation and regression analysis, which is well known. In the presented article, the forecast of housing prices will be realized with the help of artificial intelligence - neural networks.

Suggested Citation

  • Miroslav Pánik & Andrej Adamušin, 2024. "Forecast of residential real estate prices in Slovakia using of neural networks," ERES eres2024-091, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2024-091
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    More about this item

    Keywords

    Artificial Intelligence; Forecasting; Neural Networks; residential real estate prices;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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