Methodology for conducting a market analysis and valuation of a residential property subject to sale, using a comparative approach

Nikolay Stoenchev and Yana Hrischeva

The Valuation Journal, 2018, vol. 13, issue 1, 79-99

Abstract: The aim of this research is to propose a market methodology for the valuation of a property, subject to sale, that would be of interest for the purposes of the real estate agencies and their clients. We have looked for possibilities to utilize an appropriate method within the framework of the comparative approach for market valuation, which would be time-saving, realistic and applicable in cases when due to lack of sufficient data it is not possible to apply complex statistical methods and models. Based on well-known theoretical concepts, an algorithm was developed which is appropriate to use in the specific context and circumstances of the Bulgarian real estate market. We propose a concept for the successful application of this algorithm in the context of other developed real estate markets.

JEL-codes: C4 R3 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:vaj:journl:v:13:y:2018:i:1:p:79-99

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