Work detail

Analyzing the Effect of Google Searches on the Czech Real Estate Market

Author: Bc. Tomáš Racocha
Year: 2022 - summer
Leaders: PhDr. Pavel Vacek Ph.D.
Consultants:
Work type: Bachelors
Language: English
Pages: 47
Awards and prizes:
Link: https://dspace.cuni.cz/handle/20.500.11956/173624
Abstract: This thesis examines what effect online search data has on the Czech real estate market,
specifically on the number of transactions and apartment prices. A key feature of my work is the
analysis of the sampling error associated with Google Trends data which can greatly influence
results if not accounted for. To measure the explanatory power of online search data, a set of
baseline models using macroeconomic variables was estimated for each specification, and then
search indices were added as additional independent variables. In every examined setting,
enhancing traditional models with Google Trends data improved model performance in terms of
several different evaluation metrics.
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