Difference between revisions of "FLATearthers proposal"

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[[FLATearthers  | <font face="Arial" color="#040F3D" size=2><b>TEAM</b></font>]]
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[[FLATearthers  | <font face="Verdana" color="#040F3D" size=2><b>TEAM</b></font>]]
  
 
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[[FLATearthers_proposal | <font color="#040F3D" size=2><b>PROPOSAL</b></font>]]
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[[FLATearthers_proposal | <font face="Verdana" color="#040F3D" size=2><b>PROPOSAL</b></font>]]
  
 
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[[FLATearthers_poster | <font color="#040F3D" size=2><b>POSTER</b></font>]]
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[[FLATearthers_poster | <font face="Verdana" color="#040F3D" size=2><b>POSTER</b></font>]]
  
 
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[[FLATearthers_application | <font color="#040F3D" size=2><b>APPLICATION</b></font>]]
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[[FLATearthers_application | <font face="Verdana" color="#040F3D" size=2><b>APPLICATION</b></font>]]
  
 
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[[FLATearthers_research| <font color="#040F3D" size=2><b>RESEARCH PAPER</b></font>]]
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[[FLATearthers_research| <font face="Verdana" color="#040F3D" size=2><b>RESEARCH PAPER</b></font>]]
 
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<!-- Body -->
 
<!-- Body -->
 
<br>
 
<br>
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<!-- Project Description -->
 
−
{| style="background-color:#ffffff ; margin: 3px 10px 3px 10px; width="80%"|
 
−
 
−
| style="font-family:Open Sans, Arial, sans-serif; font-size:24px; border-top:solid #ffffff; border-bottom:solid #040F3D" width="9999px" | Project Description
 
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|}
 
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−
 
 
<!-- Project Motivation -->
 
<!-- Project Motivation -->
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{| style="background-color:#ffffff ; margin: 3px 10px 3px 10px; width="80%"|
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<div style="background: #C2CAD0; padding: 20px; line-height: 0.3em; letter-spacing:0.1em; font-size:150%; font-weight:bold; text-align: center; margin-left: 5em; margin-right: 5em;"><font color=#000 face="Verdana">PROJECT MOTIVATION</font></div>
 +
<div style= "text-align: left;  margin-left: 10em; margin-right: 10em; font-size: 15px"><font color=#000 face="Verdana">
 +
In Singapore, the large majority of the population live in HDB flats. Given the scarcity of land in Singapore, housing prices tend to hold a large price tag as with HDB flats. Buying a HDB flat represents a huge financial commitment that many young adults face as they search for the ideal home with the appropriate price tag to match.
  
−
| style="font-family:Open Sans, Arial, sans-serif; font-size:24px; border-top:solid #ffffff; border-bottom:solid #040F3D" width="9999px" | Project Motivation
+
As prospective buyers of HDB flats, we would like to investigate the intrinsic value of HDB flats and explain why they are priced as such. We intend to take a geospatial approach to analyze and quantify the different factors affecting the resale prices of HDB flats by both internal and external factors.
−
|}
+
</div>
 +
<br>
  
 +
<!-- Project Description-->
 +
<div style="background: #C2CAD0; padding: 20px; line-height: 0.3em; letter-spacing:0.1em; font-size:150%; font-weight:bold; text-align: center; margin-left: 5em; margin-right: 5em;"><font color=#000 face="Verdana">PROJECT DESCRIPTION</font></div>
 +
<div style= "text-align: left;  margin-left: 10em; margin-right: 10em; font-size: 15px"><font color=#000 face="Verdana">
 +
Our project aims to find out how external and internal factors may affect resale housing prices. External factors are, though not limited to, noise levels, proximity to hawker centers, MRT stations, shopping malls, schools and eldercare services. Internal factors are, though not limited to, remaining lease, number of rooms, floor, flat type and age of the flat.
  
  
−
<!-- Project Motivation -->
+
We will be using 3 different models:
−
{| style="background-color:#ffffff ; margin: 3px 10px 3px 10px; width="80%"|
 
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−
| style="font-family:Open Sans, Arial, sans-serif; font-size:24px; border-top:solid #ffffff; border-bottom:solid #040F3D" width="9999px" | Background
 
−
|}
 
  
 +
# Hedonic pricing model
 +
# Geographically weighted regression
 +
# Geographically and temporally weighted regression to compare and explain how the factors stated above may, affect resale housing prices.
 +
</div>
 +
<br>
  
 
<!-- Data Sources -->
 
<!-- Data Sources -->
−
{| style="background-color:#ffffff ; margin: 3px 10px 3px 10px; width="80%"|
+
<div style="background: #C2CAD0; padding: 20px; line-height: 0.3em; letter-spacing:0.1em; font-size:150%; font-weight:bold; text-align: center; margin-left: 5em; margin-right: 5em;"><font color=#000 face="Verdana">DATA SOURCES</font></div>
−
 
+
<div style= "text-align: left;  margin-left: 10em; margin-right: 10em; font-size: 15px"><font color=#000 face="Verdana">
−
| style="font-family:Open Sans, Arial, sans-serif; font-size:24px; border-top:solid #ffffff; border-bottom:solid #040F3D" width="9999px" | Data Sources
+
{| class="wikitable" style="background-color:#FFF; margin: 1em auto;" width="80%; font-size: 15px;"
 +
|+
 +
|-style="font-size: 100%;
 +
! <b>Data Set</b>
 +
! <b>Format</b>
 +
! <b>Attribute</b>
 +
|-style="font-size: 100%;
 +
| [https://data.gov.sg/dataset/resale-flat-prices?resource_id=1b702208-44bf-4829-b620-4615ee19b57c HDB Resale Value]
 +
| CSV
 +
|
 +
*  Month
 +
*  Town
 +
*  Flat Type
 +
*  Block
 +
*  Street Name
 +
*  Storey Range
 +
*  Floor Area
 +
*  Remaining Lease (Years)
 +
*  Resale Price
 +
|-style="font-size: 100%;
 +
| [https://en.wikipedia.org/wiki/List_of_shopping_malls_in_Singapore Shopping malls]
 +
| csv
 +
| -
 +
|-style="font-size: 100%;
 +
| [https://en.wikipedia.org/wiki/List_of_Singapore_MRT_stations MRT/LRT]
 +
| csv
 +
| -
 +
|-style="font-size: 100%;
 +
| Primary Schools
 +
| csv (General-information-of-schools.csv Hands-On Ex 3)
 +
|
 +
* school_name
 +
* postal_code
 +
|-style="font-size: 100%;
 +
| [https://docs.onemap.sg/#authentication-service-post Secondary schools]
 +
| csv (General-information-of-schools.csv Hands-On Ex 3)
 +
|
 +
* school_name
 +
* postal_code
 +
|-style="font-size: 100%;
 +
| [http://www.polytechnic.edu.sg JCs and Polytechnics]
 +
| csv (General-information-of-schools.csv Hands-On Ex 3)
 +
|
 +
* school_name
 +
* postal_code
 +
|-style="font-size: 100%;
 +
| [https://en.wikipedia.org/wiki/List_of_hospitals_in_Singapore Hospitals]
 +
| csv
 +
| -
 +
|-style="font-size: 100%;
 +
| [https://data.gov.sg/dataset/hawker-centres Hawker Centres]
 +
| csv
 +
| -
 
|}
 
|}
−
 
+
</div>
 +
<br>
  
 
<!-- Project Timeline -->
 
<!-- Project Timeline -->
−
{| style="background-color:#ffffff ; margin: 3px 10px 3px 10px; width="80%"|
+
<div style="background: #C2CAD0; padding: 20px; line-height: 0.3em; letter-spacing:0.1em; font-size:150%; font-weight:bold; text-align: center; margin-left: 5em; margin-right: 5em;"><font color=#000 face="Verdana">PROJECT TIMELINE</font></div>
−
 
+
<div style= "text-align: left; margin-left: 10em; margin-right: 10em; font-size: 15px"><font color=#000 face="Verdana">
−
| style="font-family:Open Sans, Arial, sans-serif; font-size:24px; border-top:solid #ffffff; border-bottom:solid #040F3D" width="9999px" | Project Timeline
+
[[File:Timeline flatearthers.png|frameless|center|1000px]]
−
|}
+
</div>
  
 +
<!-- Project Storyboard -->
 +
<div style="background: #C2CAD0; padding: 20px; line-height: 0.3em; letter-spacing:0.1em; font-size:150%; font-weight:bold; text-align: center; margin-left: 5em; margin-right: 5em;"><font color=#000 face="Verdana">PROJECT STORYBOARD</font></div>
 +
<div style= "text-align: left;  margin-left: 10em; margin-right: 10em; font-size: 15px"><font color=#000 face="Verdana">
 +
[[File:Storyboard flatearthers.PNG|frameless|center|1000px]]
 +
</div>
  
−
<!-- Technical Challenges -->
 
−
{| style="background-color:#ffffff ; margin: 3px 10px 3px 10px; width="80%"|
 
  
−
| style="font-family:Open Sans, Arial, sans-serif; font-size:24px; border-top:solid #ffffff; border-bottom:solid #040F3D" width="9999px" | Technical Challenges
+
<!-- Key Challenges -->
 +
<div style="background: #C2CAD0; padding: 20px; line-height: 0.3em; letter-spacing:0.1em; font-size:150%; font-weight:bold; text-align: center; margin-left: 5em; margin-right: 5em;"><font color=#000 face="Verdana">KEY CHALLENGES</font></div>
 +
{| class="wikitable" style="background-color:#FFF; margin: 1em auto;" width="80%; font-size: 15px;"
 +
|+
 +
|-style="font-size: 100%;
 +
! <b>Key Challenges</b>
 +
! <b>Mitigation</b>
 +
|-style="font-size: 100%;
 +
| Unfamiliarity with R and packages required for project
 +
|
 +
#Self-learning online through sites like Datacamp
 +
#Read up
 +
|-style="font-size: 100%;
 +
| Unfamiliarity with proper approach to use for project
 +
|
 +
#Read up on related projects found in research databases
 +
#View past projects with similar goals
 +
|-style="font-size: 100%;
 +
| Limitations of OneMap API to handle large amount of data
 +
|
 +
#Read up on related projects found in research databases
 +
#Split up large dataset across group members and across a few days
 
|}
 
|}
−
 
−
 
−
<!-- Tools and Technologies -->
 
−
{| style="background-color:#ffffff ; margin: 3px 10px 3px 10px; width="80%"|
 
  
  

Revision as of 23:59, 3 March 2019

FLATearthers.jpeg

TEAM

 

PROPOSAL

 

POSTER

 

APPLICATION

 

RESEARCH PAPER


PROJECT MOTIVATION

In Singapore, the large majority of the population live in HDB flats. Given the scarcity of land in Singapore, housing prices tend to hold a large price tag as with HDB flats. Buying a HDB flat represents a huge financial commitment that many young adults face as they search for the ideal home with the appropriate price tag to match.

As prospective buyers of HDB flats, we would like to investigate the intrinsic value of HDB flats and explain why they are priced as such. We intend to take a geospatial approach to analyze and quantify the different factors affecting the resale prices of HDB flats by both internal and external factors.


PROJECT DESCRIPTION

Our project aims to find out how external and internal factors may affect resale housing prices. External factors are, though not limited to, noise levels, proximity to hawker centers, MRT stations, shopping malls, schools and eldercare services. Internal factors are, though not limited to, remaining lease, number of rooms, floor, flat type and age of the flat.


We will be using 3 different models:

  1. Hedonic pricing model
  2. Geographically weighted regression
  3. Geographically and temporally weighted regression to compare and explain how the factors stated above may, affect resale housing prices.


DATA SOURCES
Data Set Format Attribute
HDB Resale Value CSV
  • Month
  • Town
  • Flat Type
  • Block
  • Street Name
  • Storey Range
  • Floor Area
  • Remaining Lease (Years)
  • Resale Price
Shopping malls csv -
MRT/LRT csv -
Primary Schools csv (General-information-of-schools.csv Hands-On Ex 3)
  • school_name
  • postal_code
Secondary schools csv (General-information-of-schools.csv Hands-On Ex 3)
  • school_name
  • postal_code
JCs and Polytechnics csv (General-information-of-schools.csv Hands-On Ex 3)
  • school_name
  • postal_code
Hospitals csv -
Hawker Centres csv -


PROJECT TIMELINE
Timeline flatearthers.png
PROJECT STORYBOARD
Storyboard flatearthers.PNG


KEY CHALLENGES
Key Challenges Mitigation
Unfamiliarity with R and packages required for project
  1. Self-learning online through sites like Datacamp
  2. Read up
Unfamiliarity with proper approach to use for project
  1. Read up on related projects found in research databases
  2. View past projects with similar goals
Limitations of OneMap API to handle large amount of data
  1. Read up on related projects found in research databases
  2. Split up large dataset across group members and across a few days



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