How Covid-19 Pandemic Has Affected the Market Value According to Multi-parametric Methods

Abstract

This research paper aims to discuss the changes that the Covid-19 pandemic has brought to the demand in the real estate market in Padova. Two databases are compared: database A dates back to a pre-Covid scenario, while database B represents the actual situation. A multi-parametric approach, based on the use of Artificial Neural Networks, is used to create a forecasting algorithm to predict the market value of the properties as a function of their characteristics. This multi-parametric perspective allows isolating each attribute's singular influence on the price. Comparing the two databases makes it possible to see how the demand preferences have changed during the pandemic. Some characteristics are now more appreciated than before, such as the external spaces, while others are less appreciated, such as the location. These changes in preferences can be attributed to the new lifestyle, habits and working schedule that the pandemic has led to.