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A review on the performance of house price index models: Hedonic Pricing Model VS artificial neural network model

Most of the countries around the globe including Malaysia using the Hedonic Pricing Model (HPM) to build a national house price index. However, HPM seems to not reflect the current market trend due to its non-linearity and multicollinearity. Hence, one of the alternative techniques that have been ap...

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Main Authors: Aminuddin, Aida Julia, Adi Maimun, Nurul Hana
Format: Article
Language:English
Published: Academic Inspired Network 2022
Subjects:
HD1394-1394.5 Real estate management
Online Access:http://eprints.utm.my/108741/1/NurulHanaAdiMaimun2022_AReviewOnThePerformanceOfHousePriceIndex.pdf
http://eprints.utm.my/108741/
https://ijafb.com/archived.asm?dataid=442&iDisplayStart=0&aaSorting=&isSearchDetail=1&dataidExtend=4489&iDisplayStartExtend=0&aaSortingExtend=&isSearchDetailExtend=1
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spelling my.utm.1087412024-11-27T09:49:50Z http://eprints.utm.my/108741/ A review on the performance of house price index models: Hedonic Pricing Model VS artificial neural network model Aminuddin, Aida Julia Adi Maimun, Nurul Hana HD1394-1394.5 Real estate management Most of the countries around the globe including Malaysia using the Hedonic Pricing Model (HPM) to build a national house price index. However, HPM seems to not reflect the current market trend due to its non-linearity and multicollinearity. Hence, one of the alternative techniques that have been applied is an artificial neural network to improve the reliability of forecasting information. The present article conducted a systematic literature review on the artificial neural network in forecasting local house price index. This study integrated multiple research designs and the review was based on the publication standard, namely ROSES (RepOrting Standard for Evidence Syntheses). This study selected articles through various databases such as Scopus, Emerald, Science Direct, SpringerLink, Web of Science, and Google Scholar. This review has five main themes namely 1) The Malaysian House Price Index (MHPI); 2) Hedonic Pricing Model; 3) Main problem of hedonic price function; 4) Artificial Neural Network (ANN), and 5) Performance of ANN. The findings explained the performance of artificial neural network in forecasting house price index based on previous study. This study benefits to the expansion of academic knowledge on property valuation in Malaysia where this research explores for improvement in the valuation sector using a reliable approach that is ANN model. Academic Inspired Network 2022 Article PeerReviewed application/pdf en http://eprints.utm.my/108741/1/NurulHanaAdiMaimun2022_AReviewOnThePerformanceOfHousePriceIndex.pdf Aminuddin, Aida Julia and Adi Maimun, Nurul Hana (2022) A review on the performance of house price index models: Hedonic Pricing Model VS artificial neural network model. International Journal of Accounting, Finance and Business (IJAFB), 7 (39). pp. 53-63. ISSN 0128-1844 https://ijafb.com/archived.asm?dataid=442&iDisplayStart=0&aaSorting=&isSearchDetail=1&dataidExtend=4489&iDisplayStartExtend=0&aaSortingExtend=&isSearchDetailExtend=1 NA
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
language English
topic HD1394-1394.5 Real estate management
spellingShingle HD1394-1394.5 Real estate management
Aminuddin, Aida Julia
Adi Maimun, Nurul Hana
A review on the performance of house price index models: Hedonic Pricing Model VS artificial neural network model
description Most of the countries around the globe including Malaysia using the Hedonic Pricing Model (HPM) to build a national house price index. However, HPM seems to not reflect the current market trend due to its non-linearity and multicollinearity. Hence, one of the alternative techniques that have been applied is an artificial neural network to improve the reliability of forecasting information. The present article conducted a systematic literature review on the artificial neural network in forecasting local house price index. This study integrated multiple research designs and the review was based on the publication standard, namely ROSES (RepOrting Standard for Evidence Syntheses). This study selected articles through various databases such as Scopus, Emerald, Science Direct, SpringerLink, Web of Science, and Google Scholar. This review has five main themes namely 1) The Malaysian House Price Index (MHPI); 2) Hedonic Pricing Model; 3) Main problem of hedonic price function; 4) Artificial Neural Network (ANN), and 5) Performance of ANN. The findings explained the performance of artificial neural network in forecasting house price index based on previous study. This study benefits to the expansion of academic knowledge on property valuation in Malaysia where this research explores for improvement in the valuation sector using a reliable approach that is ANN model.
format Article
author Aminuddin, Aida Julia
Adi Maimun, Nurul Hana
author_facet Aminuddin, Aida Julia
Adi Maimun, Nurul Hana
author_sort Aminuddin, Aida Julia
title A review on the performance of house price index models: Hedonic Pricing Model VS artificial neural network model
title_short A review on the performance of house price index models: Hedonic Pricing Model VS artificial neural network model
title_full A review on the performance of house price index models: Hedonic Pricing Model VS artificial neural network model
title_fullStr A review on the performance of house price index models: Hedonic Pricing Model VS artificial neural network model
title_full_unstemmed A review on the performance of house price index models: Hedonic Pricing Model VS artificial neural network model
title_sort review on the performance of house price index models: hedonic pricing model vs artificial neural network model
publisher Academic Inspired Network
publishDate 2022
url http://eprints.utm.my/108741/1/NurulHanaAdiMaimun2022_AReviewOnThePerformanceOfHousePriceIndex.pdf
http://eprints.utm.my/108741/
https://ijafb.com/archived.asm?dataid=442&iDisplayStart=0&aaSorting=&isSearchDetail=1&dataidExtend=4489&iDisplayStartExtend=0&aaSortingExtend=&isSearchDetailExtend=1
_version_ 1817841639677231104
score 13.223943

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