The International Practice of Statistical Property Valuation Methods and the Possibilities of Introducing Automated Valuation Models in Hungary

Áron Horváth, Blanka Imre () and Zoltán Sápi ()
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Blanka Imre: PhD student in economics at Universita Bocconi
Zoltán Sápi: Analyst at the ELTINGA Centre for Real Estate Research

Financial and Economic Review, 2016, vol. 15, issue 4, 45–64

Abstract: In the wake of regulatory, information technology and methodological changes, statistical property valuation has gained traction in Hungary. This paper looks at the available methods of appraisal based on the literature. We provide an overview of the advantages and drawbacks of the currently known methods. Based on these, automated valuation models (AVMs) can be readily introduced alongside the estimated median value based methods used so far. For real estate industryspecific reasons, the introduction of parametric hedonic estimates supplemented with spatial correlations can be expected for the time being. The better performance of statistical models would need improved quality of duties office data.

Keywords: mortgage; collateral valuation; automated valuation model; statistical valuation (search for similar items in EconPapers)
JEL-codes: C15 C45 G21 (search for similar items in EconPapers)
Date: 2016
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