Graph Convolutional Network-Based Model for Megacity Real Estate Valuation

Abstract

It is challenging to make precise assessments of real estate prices due to its elevated individual prices, complicated influencing factors, and ambiguous attribute selection. As a result of the high demand for owner-occupied and investment properties, real estate is also a substantial concern for society. How to accurately evaluate its price has been a hot issue for research by major institutions. Realworld applications of real estate valuation impose stringent requirements on the acquisition of datasets and the generalizability of models. On the basis of SRGCNN, a spatial regression model with excellent generalizability, this paper introduces an external attention mechanism to construct the A-SRGCNN model and compares it to the benchmark model utilizing data from Shanghai, Melbourne, and San Diego. For spatial regression, A-SRGCNN employs graph convolutional neural networks, and the external attention mechanism implicitly considers the relationship between property data. Experiments indicate that the A-SRGCNN model outperforms the benchmark model and has improved real estate price estimation accuracy. In the meantime, this paper employs the A-SRGCNN model to conduct zonal experiments and time-division experiments on the secondary real estate market in Shanghai to analyze the real estate price linkages between different zones and the real estate price linkages at different times. It is revealed that Shanghai real estate prices exhibit spatial aggregation and price aggregation, with comparable prices within the same zones, and that the A-SRGCNN model is effective at predicting house prices.