Variants of Modeling Dwelling Market Value

Barańska Anna () and Michalik Sylwia ()
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Barańska Anna: Faculty of Mining Surveying and Environmental Engineering AGH University of Science and Technology
Michalik Sylwia: Eng. Faculty of Mining Surveying and Environmental Engineering AGH University of Science and Technology

Real Estate Management and Valuation, 2014, vol. 22, issue 3, 28-35

Abstract: The object of this paper is to determine real estate market value on the basis of a multidimensional function model in different variants: A - directly from the model estimated on the basis of a big database, B - from the same model form, but estimated on the basis of a reduced database consisting of dwellings most similar to the estimated one, and C - based on modeled prices corrected by random correction, calculated from random deviations for dwellings most similar to the assessed one. In the framework of statistical inference procedures, the resulting comparison was carried out by parametric significance tests. They were applied to draw conclusions on the analyzed variants

Keywords: real estate valuation; multidimensional functional modeling; reduction of database (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:remava:v:22:y:2014:i:3:p:8:n:3

DOI: 10.2478/remav-2014-0024

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