% Author: Simon-Pierre Boucher — contact@spboucher.ai
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% UQO Working Paper No. 2
% Decoding Real Estate Descriptions: Semantic Embeddings and Hedonic
% Pricing of Residential Properties in Quebec
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\newcommand{\WPnumber}{2}
\newcommand{\WPtitle}{Decoding Real Estate Descriptions: Semantic Embeddings and Hedonic Pricing of Residential Properties in Quebec}
\newcommand{\WPsubtitle}{}
\newcommand{\WPdate}{May 2026}
\newcommand{\WPversion}{1.1}
\newcommand{\WPabstract}{%
This paper develops an interpretable NLP approach to hedonic pricing that projects sentence-transformer embeddings of property listing descriptions onto 20 researcher-defined semantic references, producing economically meaningful features. Using 17,087 single-family listings from Quebec, Canada, I show that adding cosine-similarity measures to a standard hedonic model increases adjusted $R^2$ from 0.452 to 0.511 ($F=99.53$, $p<0.001$). Modern/contemporary language is associated with $+$16.4\% prices per standard deviation; luxury $+$14.2\%; land/nature $+$13.0\%. Renovation-need language is associated with $-$7.9\% and seller urgency $-$8.5\%. Quantile regressions reveal heterogeneous effects across the price distribution, and the estimates are robust to bootstrap inference and outlier trimming.%
}
\newcommand{\WPkeywords}{hedonic pricing, NLP, sentence embeddings, cosine similarity, real estate valuation, Quebec}
\newcommand{\WPjel}{R31, C45, C21, R21}

% --- Author ---
\newcommand{\WPauthor}{Simon-Pierre Boucher}
\newcommand{\WPaffiliation}{%
  D\'epartement des sciences administratives\\
  Universit\'e du Qu\'ebec en Outaouais%
}
\newcommand{\WPemail}{simon-pierre.boucher@uqo.ca}
\newcommand{\WPaddress}{%
  Gatineau -- Pavillon Alexandre-Tach\'e\\
  283, boulevard Alexandre-Tach\'e\\
  Gatineau, Qu\'ebec, Canada J9A 1L8%
}

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