Frequently Asked Questions
1. What's the algorithm behind the Homeprice valuation system?
To valuate a given unit, our system utilizes the previous transactions of the given unit and those of other similar units. Using hierarchical Bayesian modeling, we are able to provide objective and accurate valuations for residential units in Hong Kong.
2. Why should I use Homeprice?
Housing related expenses can take up a large portion of income for many individuals and is thus a matter of high importance. We believe that by providing professional, objective, and accurate valuation information, we can help home buyers and sellers alike in their decision-making process.
3. How does Homeprice differ from other property valuation systems?
Homeprice is the first property valuation system developed by academic researchers. Since our system is based solely on actual data, we are completely unbiased. For more information please visit our technical information page.
4. Is there a limit as to how frequent I can use Homeprice?
No, users can use Homeprice to look up valuation for any property units in Hong Kong for free at any time.
5. How long does it take to receive valuation information?
After locating the property of interest on our webpage, we instantly show our current valuation on the result page with a simple mouse click.
6. How accurate are the valuations provided by Homeprice?
After extensive testing, our valuations achieve an accuracy rate of over 95% as compared to the final transaction prices. We believe that we are more accurate than any other property valuation systems available on the web.
7. How frequent do you update your valuations?
We update our valuations daily in order to provide the most up-to-date and accurate valuation data to our users.
8. What is the date range of previous transaction data that you use in producing valuations?
Our system contains property transaction data that date back to 1996. Thus we analyze over 10 years worth of data in producing valuations.
9. How can I contact you guys?
For any enquiries, comments, or feedback, please email us at [email protected].