BT4301 Group 8: Prediction of Property Prices in the Housing Industry

Problem Statement

The housing industry in Singapore faces several challenges, such as the fragmentation of information across different sources, and the volatility of the market due to external factors, as well as inflation and interest rates. These multifaceted challenges hinder realtors from making accurate valuations of property prices. As such, there is a need for an end-to-end analytics solution that merges housing information from various sources and analyses it to provide a comprehensive and up-to-date overview of the state of the market in Singapore.

Business Value and Solution Statement

The project aims to deliver an analytics solution to predict HDB resale flat prices given relevant data such as flat location and size while taking into consideration other factors like bank loan rates as well as the consumer price index. Given the surge in resale prices in recent years, as well as resale flat transactions making up a significant proportion of all property transactions in Singapore, this project is of value to real estate agencies in various ways.

Gathering and analysing data from different sources is integral to real estate agencies in reducing information asymmetry and increasing transparency of the property market, thus increasing their confidence in decision-making regarding property acquisitions, sales, and investments. This could result in enhanced pricing strategies and the ability to identify lucrative investment opportunities, leading to increased revenue generation for the company.

Prediction of housing prices also enables real estate agencies to mitigate risks. By anticipating fluctuations in resale flat prices, realtors can proactively manage risks associated with market volatility, such as identifying potential areas of overvaluation or downturns in certain segments of the housing market.

Real estate agencies could also utilise this solution to provide clients with premium services such as personalised market analysis or investment advisory services, thereby strengthening their brand image as go-to experts in the real estate industry to grow their clientele and revenue.

Directory Structure

├── data
│   ├── README.md
│   ├── ... (data files)
├── docs
│   ├── README.md
│   ├── ... (report file)
├── source
│   ├── README.md
│   ├── mlops
│   │   ├── README.md
│   │   ├── ... (MLOps files)
│   ├── dataops
│   │   ├── README.md
│   │   ├── ... (DataOps files)
├── video
│   ├── README.md
│   ├── GP08.mp4
├── README.md