The Significance of Database Size in Modelling the Market of Nonresidential Premises

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

Real Estate Management and Valuation, 2016, vol. 24, issue 2, 47-56

Abstract: The market of non-residential premises is the subject of analyses less frequently than the housing market. There are two main reasons which probably contribute thereto. First of all, commercial premises are relatively less frequently objects of trade than dwelling units; secondly, they are more diverse due to their various uses. The category includes garages, office premises, commercial premises, as well as warehouses. Such differences in their uses result in significantly different characteristics, such as surface area.The article attempts to analyse a selected non-residential segment of the commercial property market in Krakow based on a large set of data (280 objects), referring to the transactions concluded in the last five years. The size of the data enabled the use of multidimensional modelling of the selected market in different size variants. This made it possible to draw reliable conclusions which undermine the widespread belief regarding very limited possibilities of using the method of market statistical analysis in the comparative approach, especially in this segment of the real estate market, as well as in others, where transactions are concluded less frequently than on the housing market.

Keywords: real estate valuation; commercial premises; multidimensional functional modelling; database size (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:remava:v:24:y:2016:i:2:p:60-69:n:5

DOI: 10.1515/remav-2016-0013

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