This paper proposes the use of a semiparametric model based on a locally weighted approach that controls for dynamic agglomeration and diffusion effects in constructing localized housing price indices. Based on residential transaction records in Singapore, we create three-dimensional interactive heat maps that allow for better measurement and visualization of spatial variations and heterogeneity in price appreciation. The heat map captures regional variations and temporal dispersions in price appreciation rates in the business cycle. Our methodology provides high-resolution information about price dynamics that could aid individual buyers, investors, and policy makers in making objective and informed decisions.

中文翻译：

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追踪城市脉搏——3D房地产价格热图

本文建议使用基于局部加权方法的半参数模型，该模型在构建局部房价指数时控制动态集聚和扩散效应。根据新加坡的住宅交易记录，我们创建了三维交互式热图，可以更好地测量和可视化价格升值的空间变化和异质性。热图捕捉了商业周期中价格升值率的区域变化和时间差异。我们的方法提供了有关价格动态的高分辨率信息，可以帮助个人买家、投资者和政策制定者做出客观和明智的决策。