The Use of Artificial Neural Networks (ANN) in Forecasting Housing Prices in Ankara, Turkey
Journal Title: Journal of Marketing and Consumer Behaviour in Emerging Markets - Year 2017, Vol 1, Issue 5
Abstract
The purpose of this paper is to forecast housing prices in Ankara, Turkey using the artifi cial neural networks (ANN) approach. The data set was collected from one of the biggest real estate web pages during April 2013. A three-layer (input layer – one hidden layer – output layer) neural network is designed with 15 different inputs to forecast the future housing prices. The proposed model has a success rate of 78%. The results of this paper would help property investors and real estate agents in developing more effective property pricing management in Ankara. We believe that the artifi cial neural networks (ANN) proposed here will serve as a reference for countries that develop artifi cial neural networks (ANN) method-based housing price determination in future. Applying the artifi cial neural networks (ANN) approach for estimation of housing prices is relatively new in the fi eld of housing economics. Moreover, this is the fi rst study that uses the artifi cial neural networks (ANN) approach for analyzing the housing market in Ankara/Turkey.
Authors and Affiliations
Olgun Kitapci, Ömür Tosun, Murat Fatih Tuna, Tarik Turk
Keywords
Related Articles
- EP ID EP298807
- DOI 10.7172/2449-6634.jmcbem.2017.1.1
- Views 127
- Downloads 0
Using the SERVQUAL model to evaluate the quality of services for a farm school store
The main objective of this paper is to present and analyse the findings of research which aims to measure the services that a locally-based SME (Small-Medium Enterprise) campus store of a farm school provides to its cust...
Influence of personality on buying behaviour: a cross- cultural study comparing Poland and the UK
The present study aimed to explore whether personality traits infl uence buying behaviour and if this infl uence differs depending on a different culture. The author focused on a crosscultural investigation of Poland and...
The Influence of Adult Children from “Generation Y” on the Shopping Decisions of their Parents
Family is one of the most important socio-cultural factors which refl ects on a man’s behavior. Contemporarily, young people demonstrate much more market activity. Except for doing shopping, they also play roles of advis...
Do Personality Types Make Consumers Exhibit Different Complaint Behaviors?
This study aims to explore the differences and similarities in complaint behavior of consumers according to their personality types. 116 managers of a large Turkish fi nance company have participated in the study. Result...
Gender differences in mall shopping: a study of shopping behaviour of an emerging nation
Fast developments in the food retailing industry have led to growth of shopping malls, particularly in the large cities of Saudi Arabia. The purpose of this study is to compare men and women for differences in mall shopp...