Group21 Proposal
MOVE TO WHAT MOVES YOU
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Abstract
With inflation in prices of land and an increase in human population, the HDB resale 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 HDB they should invest in. The data set contains information on the type of HDB, location of the HDBs, characteristics of the HDB (floor size, storey, flat model), lease commence date, resale prices, etc. Through the scope of this project, we intend to provide a detailed understanding of the HDB resale market movement 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 the HDB market and understand the fluctuations in demand and supply and investment opportunities in real estate. Through our application, we wish to escalate HDB 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 HDBs in different geographical locations of Singapore. We also intend to understand the 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
Data Source
The data was taken from https://data.gov.sg. The dataset contains the following columns:
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File Name |
Variables |
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Resale Flat Price 2015 onwards (.csv file) |
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