Real Estate Price Management Through Fuzzified Time Impact Factors Using MATLAB: Development Companies’ Approach

2024

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DOI 10.1109/sist61555.2024.10629393
Data confidence 70 medium
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Abstract

The profitability of a real estate development company depends on the effective formulation of a marketing strategy that integrates dynamic factors along with static ones in real estate price management. This article explores the fuzzy set theory application using MATLAB for managing the challenges posed by time impact factors, which demonstrate fluctuation during the implementation of various real estate development projects. Evolving consumer preferences, local real estate market conditions, and the construction processes complexness influence these factors. The analysis of Group Impact Factors, influenced by time parameters, discloses trends in real estate prices across different combinations of sale offer exposure periods and construction stages.This article suggests integrating results of MATLAB utilization, specifically Group Impact Factors pseudo-color plots and Time Impact Factors membership function plots, into the real-time formation of development companies' marketing strategies. These tools facilitate a dynamic factors assessment, taking into account not only the expected development project profitability but also the real-time demand for real estate within local markets and individual development projects. Using Time Impact Factors for real estate price formation enhances flexibility, providing not only desired price values but also minimum permissible ones, thereby optimizing price offers and stimulating demand.In conclusion, the authors underline the suitability of fuzzified Time Impact Factors for economic forecasting, risk management, and investment flow optimization in real estate development projects. Proposed MATLAB-based tools and approaches are declared beneficial for development companies in both strategic and tactical planning.