Time-aware latent hierarchical model for predicting house prices

Fei Tan, Chaoran Cheng, Zhi Wei

Research output: Chapter in Book/Report/Conference proceedingConference contribution

7 Scopus citations

Abstract

It is widely acknowledged that the value of a house is the mixture of a large number of characteristics. House price prediction thus presents a unique set of challenges in practice. While a large body of works are dedicated to this task, their performance and applications have been limited by the shortage of long time span of transaction data, the absence of real-world settings and the insufficiency of housing features. To this end, a time-aware latent hierarchical model is introduced to capture underlying spatiotemporal interactions behind the evolution of house prices. The hierarchical perspective obviates the need for historical transaction data of exactly same houses when temporal effects are considered. The proposed framework is examined on a large-scale dataset of the property transaction in Beijing. The whole experimental procedure strictly complies with the real-world scenario. The empirical evaluation results demonstrate the outperformance of our approach over alternative competitive methods.

Original languageEnglish (US)
Title of host publicationProceedings - 17th IEEE International Conference on Data Mining, ICDM 2017
EditorsGeorge Karypis, Srinivas Alu, Vijay Raghavan, Xindong Wu, Lucio Miele
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages1111-1116
Number of pages6
ISBN (Electronic)9781538638347
DOIs
StatePublished - Dec 15 2017
Event17th IEEE International Conference on Data Mining, ICDM 2017 - New Orleans, United States
Duration: Nov 18 2017Nov 21 2017

Publication series

NameProceedings - IEEE International Conference on Data Mining, ICDM
Volume2017-November
ISSN (Print)1550-4786

Other

Other17th IEEE International Conference on Data Mining, ICDM 2017
Country/TerritoryUnited States
CityNew Orleans
Period11/18/1711/21/17

All Science Journal Classification (ASJC) codes

  • Engineering(all)

Fingerprint

Dive into the research topics of 'Time-aware latent hierarchical model for predicting house prices'. Together they form a unique fingerprint.

Cite this