Yana Stoencheva, Borislav Borisov
Abstract: This article examines the potential of AI as instrument for data collection and processing, and its use in property valuation. Some Bulgarian and international publications on the topic are reviewed. Data from over 1,000 housing sale offers in 11 metropolitan districts have been collected and processed using AI, specifically the ChatGPT platform. A hedonic regression analysis was conducted on a cleaned sample of offers. The study draws conclusions on the role of AI in collecting and processing large-scale databases, as well as on the application of the hedonic pricing model in real estate valuation using the comparative approach. Recommendations for further elaboration of the model and advancing the research have been proposed.
Key words: artificial intelligence; hedonic price; multiple regression; property valuation; sales comparison approach; adjustment factor.
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