Quantitative Methods in Real Estate Mass Appraisal

Mariusz Doszyń () and Krzysztof Dmytrów ()
Additional contact information
Mariusz Doszyń: University of Szczecin
Krzysztof Dmytrów: University of Szczecin

Chapter Chapter 8 in Experimental and Quantitative Methods in Contemporary Economics, 2020, pp 101-114 from Springer

Abstract: Abstract Proposed introduction of the ad valorem tax on the real estate market makes it necessary to perform mass appraisal of the real estates. The goal of the chapter was verification of usefulness of econometric and statistical methods in the mass appraisal process. Exponential econometric model and partial τB Kendall correlation coefficients were applied to identify the impact of attributes and location on unit real estate price. The so-called Szczecin algorithm of real estate mass appraisal was the basis in both econometric and statistical approach. Accuracy of both approaches was checked by means of percentage error (PE) and mean absolute percentage error (MAPE) distributions. Real database containing information about 113 transactions with undeveloped land for housing purposes in Szczecin was used. The research results suggest that both methods can be used for real estate mass appraisal; however, the econometric approach gave slightly better results.

Keywords: Real estate mass appraisal; Szczecin algorithm of real estate mass appraisal; Qualitative variables; Econometric modelling; Partial τB Kendall correlation coefficient; C10; C51; R30 (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-30251-1_8

Ordering information: This item can be ordered from
http://www.springer.com/9783030302511

DOI: 10.1007/978-3-030-30251-1_8

Access Statistics for this chapter

More chapters in Springer Proceedings in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().