And please pass on all your compliments and criticisms and questions and answers during this testing phase, all feedback is welcome.
The valuation model is very easy to query (without the extraneous UI of the bank valuation sites or Homeprice) and is, of course, completely free. It takes just two steps:
Choose your building:
Fill in your details, and there's your valuation:
The results are easily shareable too: just send along the URL to your friends and enemies. For example, the valuation shown above can be accessed through this link.
Yes, you can even give fictitious numbers to the model if you always wanted to know the value of a 500th floor flat on the Peak which has 2 million square feet of floor area... but then I can't yet guarantee the accuracy of the result.
Our median percentage error on a hold-out set is 4.6%, better than that of Homeprice's model, which is currently over 7%. Even though my PhD concerned Bayesian models, I found it hasn't been necessary to use such a methodology in this case, yet. The details of how the model works are available on request.
The model is currently available for over 2,500 buildings in Hong Kong, and we are constantly increasing the number of units covered, so stay tuned.
If you'd like to be able to carry out such analyses yourself using public data and/or your own proprietary data, or create constantly-updating dashboard and email alerts with no SQL or other technical skills required, dataguru.hk would love to hear from you, so please get in touch here.