Real estate evaluation model based on the method of least squares

Jacek  Zyga

doi:10.35784/bud-arch.2276

Real estate evaluation model based on the method of least squares

Jacek Zyga

Katedra Geotechniki; Wydział Budownictwa i Architektury; Politechnika Lubelska (Polska)
https://orcid.org/0000-0003-0049-1500

DOI: https://doi.org/10.35784/bud-arch.2276

Abstrakt

New way of estimating of real estate market value, based on the least squares method, was presented in the article. Testing of applying same ideas of statistical approach into the routine way of appraisal of particular immovable estate shown that the proposed way of valuation is under some circumstances as good as the “in-pairs comparing” method, the most universal one from among methods of comparing approach. Although “in-pairs comparing” method is regarded as the most accurate one, conducted experiments clearly shown its own, inherent limits, that radically restrict the field of its use.

Słowa kluczowe:

real estate valuation, real estate pricing, in pairs comparison method, the method of least squares

Bibliografia

Hozer. J, Kokot S., Kuźmiński i in., Methods of statistical analysis in the pricing of real estates, Warsaw, Polish Federation of Valuers Associations, 2002. (in Polish).
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National Committee of Polish Federation of Valuers Associations, Use of the comparative approach in real estate valuation, Interpretative Note no. 1; 2008; (in Polish).
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National Committee of Polish Federation of Valuers Associations, Professional Standards of Valuers, Standard III.7*, 8th edition , 2001 (in Polish).
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Law on real estates economy, Journal of Laws 2004 no 261, item 2603 (in Polish).
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Statutory Instrument Resolution of the Council of Ministers from 21st September, 2004 regarding the real estate valuation and preparing of valuation report (Journal of Laws no 207, item 2109) (in Polish).
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Opublikowane

2010-12-13

Cited By / Share

Zyga, . J. . (2010) „Real estate evaluation model based on the method of least squares”, Budownictwo i Architektura, 7(2), s. 155–162. doi: 10.35784/bud-arch.2276.