After three years of falling prices, 2018 is looking like the year that the Singapore property market's will start turning around. We did a small study for one of the leading condominium developers in Singapore to try and use the latest machine learning approaches to determine property prices.
Our job was to use public data to set a reliable estimate of the psm selling price. Market and competitive research will yield a benchmark price per square meter, but how do you place a value on other important factors, such as the demographic profile of the residents, access to public services and recreational facilities? Do you have the capability to test your assumptions before project costs are incurred, perform what-if analyses on the fly, and present the information in a compelling way to investors?
This is where analytics can help.