The contribution of statistical models in the field of real estate valuation

Tothăzan Helga Flavia
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Tothăzan Helga Flavia: Department of Accounting, Faculty of economics and Business Administration, Babes-Bolyai University Cluj-Napoca, Cluj-Napoca, Romania

Timisoara Journal of Economics and Business, 2022, vol. 15, issue 1, 111-126

Abstract: Testing a model in property evaluation can be a difficult task due to the large variety of these models. The most popular models used in valuation are regression and neural networks. This paper applied a systematic review study and presents 11 types of regression models and 9 types of neural network models applied in real estate valuation. Our aim is to provide a tool for model selection applied in real estate valuation. The selection criteria were based on their applicability, user preferences and price estimation performance. The findings were slightly different from our expectations. Multi-Layer Perceptron (MLP) and Multiple Linear Regression (GLM) are the most applied and popular models in valuation.

Keywords: Regression models; ANN; Performance; Real estate; Models (search for similar items in EconPapers)
JEL-codes: J08 J24 J68 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:timjeb:v:15:y:2022:i:1:p:111-126:n:1007

DOI: 10.2478/tjeb-2022-0007

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