Cluster analysis of selected local real estate markets in Poland based on Internet data sources Cover Image

Analiza skupień wybranych lokalnych rynków nieruchomości w Polsce z wykorzystaniem internetowych źródeł danych
Cluster analysis of selected local real estate markets in Poland based on Internet data sources

Author(s): Maciej Beręsewicz, Marcin Szymkowiak
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: cluster analysis of time series data; Internet data sources; TSclust package; real estate market

Summary/Abstract: The main purpose of the article is to group and assess the degree of similarity between selected local real estate markets (cities) in Poland in terms of the average offer price per 1 square metre of apartment space. To achieve this goal the author of the study used data from real estate portals and those published by the National Bank of Poland and the Central Statistical Office. By taking into account two different types of data sources the author managed to identify a group of similar cities with respect to the average offer price per 1 m2 of apartment space. It was also possible to assess to what extent the grouping results based on Internet data are consistent with data published by official statistics. Given the character of available data, the author chose functions of distance used to measure similarity between time series and the method of complete linkage, which proved useful in identifying clusters of cities of interest that were similar in terms of the average offer price per 1 m2 of apartment space. The functions used in calculations were implemented in the TSclust Package in the R programme.

  • Issue Year: 2016
  • Issue No: 427
  • Page Range: 30-39
  • Page Count: 10
  • Language: Polish