Fintech Approach to Real Estate Valuation in Vietnam Incorporating Land Pricing Legal Framework and Local Socio-Economic Characteristics

The growth potential of the real estate industry has led to a rise in financial activities associated with this sector. Consequently, property appraisal plays a crucial role in the real estate market. Although the demand for property valuation is growing, the current appraisal practices often incur...

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Bibliographic Details
Published in2023 RIVF International Conference on Computing and Communication Technologies (RIVF) pp. 563 - 568
Main Authors Hieu, Dinh C., Phuong, Nguyen L., Hieu, Le D., Hieu, Hoang T., Thanh, Nguyen D., Phong, Le T., Nguyen, Tran H., Hien, Pham M., Son, Dinh N.
Format Conference Proceeding
LanguageEnglish
Published IEEE 23.12.2023
Subjects
computer vision
Costs
Deep learning
Fluctuations
Industries
Law
legal foundations
machine learning
mobile
OCR
Optical character recognition
Pricing
property appraisal
real estate
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Summary:The growth potential of the real estate industry has led to a rise in financial activities associated with this sector. Consequently, property appraisal plays a crucial role in the real estate market. Although the demand for property valuation is growing, the current appraisal practices often incur high costs and time consumption. Recently, automated methods have been developed and gained considerable attention due to advancements in machine learning and big data. However, these methods frequently encounter challenges and instability when faced with fluctuations in the socio-economic landscape. Therefore, we propose a solution that utilizes legal foundations and socioeconomic characteristics reflected through geographical location, while also integrating them into a comprehensive mobile app solution.
ISSN:2473-0130
DOI:10.1109/RIVF60135.2023.10471849