Advanced Search
MyIDEAS: Login to save this paper or follow this series

A decision support system for real estate investment choice

Contents:

Author Info

  • Del Giudice, V.

    (Vrije Universiteit Amsterdam, Faculteit der Economische Wetenschappen en Econometrie (Free University Amsterdam, Faculty of Economics Sciences, Business Administration and Economitrics)

  • De Paola, P.
  • Torrieri, F.
Registered author(s):

    Abstract

    The evaluation of real estate assets is currently one of the main focal points addressed by territorial marketing strategies with a view to developing high-performing – or competitive – cities. Given the complexity of driving forces that determine the behaviour of actors in a real estate market, it is necessary to identify a priori the factors that determine the competitive capacity of a city to attract investments to this market. Therefore, we need a measureable decision support system that takes into account the key factors that determine the ‘attractiveness’ of such investments in a competitive context. In the present paper we aim to design an integrated complex evaluation model that is able to map out and encapsulate the multidimensional spectrum of factors that shape the attractiveness of alternative real estate options. From an analytical perspective, we will select relevant attributes for the specification of a random utility model capable of simulating the behaviour of market operators when they are faced with a choice between alternative real estate investment sites. Specifically, a multidimensional assessment model in a decision-making context is developed in which the choice between alternative discrete investments takes place under conditions of uncertainty. This model serves two purposes: (i) it responds to the need to define the ‘attractiveness’ of an area with respect to real estate investments, and (ii) it explains what characteristics of the

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: ftp://zappa.ubvu.vu.nl/20090010.pdf
    Our checks indicate that this address may not be valid because: 500 Failed to connect to FTP server zappa.ubvu.vu.nl: Net::FTP: Bad hostname 'zappa.ubvu.vu.nl'. If this is indeed the case, please notify (R. Dam)
    Download Restriction: no

    Bibliographic Info

    Paper provided by VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics in its series Serie Research Memoranda with number 0010.

    as in new window
    Length:
    Date of creation: 2009
    Date of revision:
    Handle: RePEc:dgr:vuarem:2009-10

    Contact details of provider:
    Web page: http://www.feweb.vu.nl

    Related research

    Keywords: housing markets; investment choices; Stated Preference experiment; Analytic; Hierarchy Process (AHP);

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Forman, Ernest & Peniwati, Kirti, 1998. "Aggregating individual judgments and priorities with the analytic hierarchy process," European Journal of Operational Research, Elsevier, vol. 108(1), pages 165-169, July.
    2. Patricio E. Pérez & Francisco J. Martínez & Juan de Dios Ort�zar, 2003. "Microeconomic Formulation and Estimation of a Residential Location Choice Model: Implications for the Value of Time," Journal of Regional Science, Wiley Blackwell, vol. 43(4), pages 771-789.
    3. Paolo Rosato & Anna Alberini & Valentina Zanatta & Margaretha Breil, 2008. "Redeveloping Derelict and Underused Historic City Areas: Evidence from a Survey of Real Estate Developers," Working Papers 2008.60, Fondazione Eni Enrico Mattei.
    4. Donggen Wang & Si-Ming Li, 2004. "Housing preferences in a transitional housing system: the case of Beijing, China," Environment and Planning A, Pion Ltd, London, vol. 36(1), pages 69-87, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:dgr:vuarem:2009-10. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (R. Dam).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.