Difference between revisions of "Group21 Proposal"
| Line 6: | Line 6: | ||
<!--MAIN HEADER --> | <!--MAIN HEADER --> | ||
{|style="width="100%" cellspacing="0" cellpadding="0" valign="top" border="0" | | {|style="width="100%" cellspacing="0" cellpadding="0" valign="top" border="0" | | ||
| − | | style="font-family: | + | | style="font-family:Trebuchet MS; font-size:17px; text-align: center; border-top:solid #ffffff; border-bottom:solid #203456" width="20%" | |
; | ; | ||
[[Group21_Proposal| <font color="#000000">Proposal</font>]] | [[Group21_Proposal| <font color="#000000">Proposal</font>]] | ||
Revision as of 18:00, 17 June 2018
|
|
|
|
|
|
Abstract
With inflation in prices of land and an increase in human population, the Real Estate Market in Singapore has seen high volatility over the years. We observe that the market has significantly higher demand than supply, thereby creating a dilemma for people about the kind of property they should invest in. Our project is based on real estate sales data from 2013-2015 and provides transaction details, data on building amenities and distance to key locations for Apartment, Condominium and Executive Condominium units. Through the scope of this project, we intend to provide a detailed understanding of the real estate market so that the users of the application can make a more informed decision. We believe that real estate agents and brokers, economists, investors and other enthusiasts can use the application to understand market trends and make investment decisions.
Motivation
Understanding a market as dynamic as real estate which is ever changing can be challenging and we may use analytics to keep a close eye on the surge in housing market and understand the fluctuations in demand and supply and investment opportunities in real estate. Through our application, we wish to escalate real estate sales by matching demand and supply and creating a healthy market for transacting.
Objective
Using the packages in R, we propose to understand the price trends of Apartments, Condominiums and Executive Condominiums in different geographical locations of Singapore. We also intend to understand the real estate market and create an interactive R shiny dashboard for the users of our application to help them choose a suitable property based on their requirements. Using uni variate and multi-variate analysis, we intend to create interactive visualizations for the users based on sales. We also intend to use regression and other statistical concepts to predict the future trend in prices in the real estate market.
Scope of Project
Using JMP and R to perform the following:
- Data cleaning and Preparation
- Descriptive and Inferential Analysis
- Time Series Analysis
- Geospatial Analysis
- Estimating future price trends
