Fintech Approach to Real Estate Valuation in Vietnam Incorporating Land Pricing Legal Framework and Local Socio-Economic Characteristics

The growth potential of the real estate industry has led to a rise in financial activities associated with this sector. Consequently, property appraisal plays a crucial role in the real estate market. Although the demand for property valuation is growing, the current appraisal practices often incur high costs and time consumption. Recently, automated methods have been developed and gained considerable attention due to advancements in machine learning and big data. However, these methods frequently encounter challenges and instability when faced with fluctuations in the socio-economic landscape. Therefore, we propose a solution that utilizes legal foundations and socioeconomic characteristics reflected through geographical location, while also integrating them into a comprehensive mobile app solution.