Neighborhood Effects, Immigration and Real Estate Valuation: A Machine Learning Approach

  • Erkan Yönder, Concordia University
  • Meriç Yücel, Istanbul Technical University
An outline of a maple leaf overlaid on a photo of a tall office building.


Real estate has become an alternative asset class as being the best diversifier in pension fund portfolios, sovereign wealth funds, and life insurance companies. By its nature, real estate valuation is complex.

In this latest paper on real estate valuations, the authors merge housing data with a large set of neighborhood data and estimate house prices using machine learning models.