Generalized Additive Model Implementation for Germany Real Estate Market - Model, API, UI Development

Internship Report presented as the partial requirement for obtaining a Master's degree in Data Science and Advanced AnalyticsHedonic pricing approach one of the most accepted methodologies for the real estate price assessment by delivering attribute-based value. It emerges from the value changing regarding object attributes conditions. In real estate market, these changes can be property renovation, material, and construction depreciation, or even expanding the plot area. The scope of the internship report is to be explained the development first prototype General Additive Model of predicting House square meter price basis on Hedonic pricing theory for a certain region of Germany. In addition to the model development, bringing it into live via Rest API and User Interface is explained in this report. Data Science Service GMBH is the owner of the project and specialized in real estate property appraisal that is derived from statistical learning models, currently only at Austria. The outcome of this project enables us to get into Germany Real Estate Market as well. The necessary data has been brought by German Market Partner, Forschung und Beratung für Wohnen, Immobilien und Umwelt GmbH (F+B), however Data Science Service GMBH (DSS) is responsible for delivering the model product from beginning to end. R Programming Drake package is used for parallel computation and to be generated maintainable adaptive data pipeline. Parameter selection based on information criteria has been done for each model in every kind of real estate property. Lastly, the statistical model is delivered by rest API to UI (Shiny Application), both are developed with R programming language