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

Barańska, Anna

doi:10.1515/remav-2016-0013

Cited by 4 publications

(3 citation statements)

References 8 publications

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“…A functional model illustrating the dependencies prevailing on the studied real estate markets, and thus enabling the determination of the model value of a property, may be e.g. a multivariate regression model, described in detail in works (Hormann, 2005;Bittner, 2007;Barańska, 2014;Barańska, 2016;Kokot & Gnat, 2019) or a multivariate non-linear model (Barańska, 2007(Barańska, , 2008(Barańska, , 2010Barańska & Nowak, 2015). For the purposes of this publication, the following models were used:…”

Section: Methodsmentioning

confidence: 99%

The Influence of Chosen Statistical Methods of Detecting Outliers on Property Valuation Result

Barańska

Śpiewak

2021

Real Estate Management and Valuation

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The subject of the thesis concerns the application of selected statistical methods searching for outliers in the process of determining the value of real estate, based on a functional model adjusted to market data. The collected research material consisted of data on land properties, which were the subject of transactions on local markets, for which there was no information regarding the specific conditions of concluding the sale agreement. After the initial selection of data regarding the purpose of the property in the local plan, the type of property rights being sold and the size of the shares sold - a functional model was adjusted to the obtained data, showing the relationship between the price being the dependent variable and the features of the property being the independent variables. Then, two statistical methods of searching for outliers which are significantly different in their algorithms, i.e. Cook’s distance and robust estimation method called Pope’s method, were applied to each model. The last stage was to determine the model values of selected properties and to compare the obtained results with the known transaction prices of the parcels being the subject of the valuation. The conducted research allowed for the verification of the influence of significantly different statistical methods searching for outliers on the property valuation result and its accuracy.

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Section: Methodsmentioning

confidence: 99%

The Influence of Chosen Statistical Methods of Detecting Outliers on Property Valuation Result

Barańska

Śpiewak

2021

Real Estate Management and Valuation

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“…The heuristic abilities of the listed groups of methods work best in analysing entire markets (Trojanek, 2010;Kozioł-Kaczorek, 2012;Brzezicka & Wiśniewski 2012;Simonotti, et al, 2014;Bracke, 2015;Dmytrów & Gnat, 2019), examining their regularity or disturbances, finding traces of economic events (Shiller, 1990;Żelazowski, 2008) and studying the spatial distribution of phenomena (Bittner, et al, 2007;Celmer, 2014;Bourassa et al 2007Bourassa et al , 2010, trends or threats (Bianco, 2008;Bełej, 2013). Some of the few attempts to develop statistical methods in the field described today as giving opinions on value were: the Isakson concept aimed at simplification through a simple selection of the closest comparables, classified by the author as "the Nearest Neighbours Appraisal" (Isakson, 1986) and some contemporary research of Barańska (2016) focused on the influence of database size on predicting the property market value.…”

Section: Review Of Literaturementioning

confidence: 99%

The Influence of Dissimilarity of Comparables on the Correctness of Estimation in the Comparative Approach Procedure

Zyga

2021

Real Estate Management and Valuation

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The subject of this article is the still relevant issue of the adequate choice of comparables in evaluation procedures within the sales comparison approach. The text features the results of an experiment that makes it possible to validate the dependence of the accuracy of the final estimation of the price of valued objects in relation to the criteria of significance of similarity as a determinant of accepting individual objects as sufficiently similar, and the dissimilarity coefficients describing the created reference sets. Based on the example of simulated data, it has been shown that there is a clear relationship between the accuracy of the estimates made and the selection of comparables. In a set of all possible calculation variations, estimations based on selected data are characterized by more accurate calculations relative to parallel calculations carried out on the widest possible sets of comparables.

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“…Modele hedoniczne w Polsce są nie tylko wykorzystywane w celu wyznaczania indeksów cen nieruchomości, ale znajdują zastosowanie również w szeroko rozumianych analizach rynku nieruchomości, np. :-dla potrzeb związanych z wyceną nieruchomości(Barańska, 2016;Belniak i Wieczorek, 2017;Bitner, 2007;Cellmer, 2013;Czaja, 2001;Doszyń, 2012;Hozer, Kokot i Kuźmiński 2002;Kubus, 2016;Sawiłow, 2010; …”

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Teoretyczne i metodyczne aspekty wyznaczania indeksów cen na rynku mieszkaniowym

Trojanek¹

2018

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In the book, an attempt was made to catalogue knowledge concerning the importance of research into the dynamics of housing prices for social and economic development. The analysis of the experience of countries with well-developed real estate markets in the aspect of building price indexes was carried out. Based on original databases of asking and transaction prices, price indexes were built, which were then subjected to numerous resistance tests. The aims of these research tasks were as follows: 1) to examine the quality of offers for sale as a source of information about changes in the real estate market, 2) to find out whether the repeat sales method can be used for building price indexes and to critically assess this method in terms of the stability of the obtained results, 3) to analyze hedonic methods and indicate the preferred one in terms of the ratio of the quality of results to how time-consuming and cost-intensive it is to build such indexes, 4) to establish the importance of methods and sources of information for building price indexes in different time horizons, 5) to identify how important it is for the fluctuation of price indexes if the cooperative property right to a flat is not taken into account. In order to perform the research tasks and accomplish the goals scopes of the work were defined. The subject followed the aim of the study and refers to prices in the secondary housing market, encompassing both the property right and cooperative property right to a flat or house. The broad scope concerns the discussion in the general part, being narrowed down to the secondary market of flats located in multi-family and single-family buildings. The time scope covers the years 2000-2015, which is connected to the range of empirical studies carried out. They focused both on actual transactions and on offers of flats for sale. On this basis, we built databases which served as the starting point for further analyses. The study involved transactions and offers in the area of Poznan.

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

Cited by 4 publications

References 8 publications

The Influence of Chosen Statistical Methods of Detecting Outliers on Property Valuation Result

The Influence of Chosen Statistical Methods of Detecting Outliers on Property Valuation Result

The Influence of Dissimilarity of Comparables on the Correctness of Estimation in the Comparative Approach Procedure

Teoretyczne i metodyczne aspekty wyznaczania indeksów cen na rynku mieszkaniowym

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