Abstract:

This article presents the results of an analysis of the possibilities, potential, and limitations of artificial intelligence methods in predicting land prices. It was noted that artificial intelligence has great potential for assisting and optimizing the land price prediction process. However, its full and effective use would require taking into account both measurable and non-measurable factors in assessing the value of a land property. Among the measurable factors affecting the value of real estate are such as location, technical condition, and demographics, among others. Among the non-measurable or hard-to-measure factors distinguished were odor, easements, terrain, neighborhood, noise, and the buyer's subjective preferences. According to the authors, it is also important to maintain the transparency and interpretability of the results of models using artificial intelligence so that investors can make informed investment decisions based on them.