Dissimilarity as a Component of the Property Price Model

Zyga Jacek ()
Additional contact information
Zyga Jacek: Faculty of Engineering and Architecture, Lublin University of Technology

Real Estate Management and Valuation, 2019, vol. 27, issue 3, 124-132

Abstract: In the course of discussion on an econometric model of property value and its place in property appraisal, the argument of the main goal of the process (property market value prediction itself) was raised in this article. The need for the consideration of an ontologically perceived, particular element of the real estate market with its distinctive characteristics indicates the specific nature of the interpretation of the data which may be used in the appraisal process.Therefore, a new shape of the property value model, based on LSM, was presented. It takes into account a specific description of the appraised property. Thus, the factor of dissimilarity between sold properties used in creating the value model and the appraised property was used in its coefficient matrix. The new model clearly shows the advantages and disadvantages of the dissimilarities between sold properties used in creating the coefficient matrix of the value model.

Keywords: Dissimilarity; Property price model; comparables selection; property valuation (search for similar items in EconPapers)
JEL-codes: C18 C38 C51 R15 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/remav-2019-0030 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:remava:v:27:y:2019:i:3:p:124-132:n:10

DOI: 10.2478/remav-2019-0030

Access Statistics for this article

Real Estate Management and Valuation is currently edited by Sabina Zrobek

More articles in Real Estate Management and Valuation from Sciendo
Bibliographic data for series maintained by Peter Golla ().