The Spatio-Temporal Distribution of Residential Real Estate Price Monitoring System

Abstract

The real estate market plays an important role in the economy. The effects of price burst in housing markets last nearly twice as long and lead to output losses that are twice as large, comparing to the stock market; hence, the attention in identifying and preventing the housing bubble is widely emphasized. However, in Thailand, economists have limited tools to track the movement in real estate transactions and evaluate factors affecting real estate prices, thereby having ineffective financial policy management. We proposed a novel Spatio-Temporal distribution of residential real estate price monitoring system to help economists monitoring the situation of the residential real estate market. The system is a web-based application and designed to support decision making of economists by showing the relationship of price-To-rent ratio with dynamic factors such as demography, environment, and utilities. The system provides several visualizations that are easy to understand, offers a multi-dimensional perspective. Moreover, the system can monitor the results from cluster analysis to notify users when the situation is uncommon.