The range of uncertainty on the property market pricing: The case of the city of Shanghai

Property prices around the globe have seen very strong growth over the last two decades. Across various advanced countries, such a rapid and uncontrolled growth in house prices puts their economy in danger, and most importantly, their social integration and interconnectedness at great risk. In this paper, we develop a novel fuzzy linear regression framework using symmetric and asymmetric trapezoidal fuzzy numbers for determining the relationship of particular (non-) policy factors with the house prices. An interviewing questionnaire survey was conducted for collecting real data for the city of Shanghai to illustrate our theoretical treatment.