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Resampling Techniques for Real Estate Appraisals: Testing the Bootstrap Approach

Author

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  • Vincenzo Del Giudice

    (University of Naples “Federico II”, Department of Industrial Engineering, Piazzale Vincenzo Tecchio 80, 80125 Naples, Italy)

  • Francesca Salvo

    (University of Calabria, Department of Engineering for the Environment and the Territory and Chemical Engineering, Via Pietro Bucci Cubo 46b, 87036 Rende, Italy)

  • Pierfrancesco De Paola

    (University of Naples “Federico II”, Department of Industrial Engineering, Piazzale Vincenzo Tecchio 80, 80125 Naples, Italy)

Abstract

Applied to real estate markets analysis, the resampling methods aim to contribute to the knowledge growth of real estate market dynamics, overcoming the issues related to the data scarcity and operational limits of traditional statistical theory. Among resampling methods, the Bootstrap technique appears to be the most suitable for the interpretation of real estate phenomena. In this study, for residential properties located in Cosenza (Calabria Region, Italy), a Bootstrap approach has been used in order to determine the marginal prices of the real estate characteristics detected, comparing the results with those obtainable with a traditional Multiple Regression Analysis.

Suggested Citation

  • Vincenzo Del Giudice & Francesca Salvo & Pierfrancesco De Paola, 2018. "Resampling Techniques for Real Estate Appraisals: Testing the Bootstrap Approach," Sustainability, MDPI, vol. 10(9), pages 1-16, August.
    • Handle: RePEc:gam:jsusta:v:10:y:2018:i:9:p:3085-:d:166578
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    References listed on IDEAS

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    Cited by:

    1. Alessia Mangialardo & Ezio Micelli & Federica Saccani, 2018. "Does Sustainability Affect Real Estate Market Values? Empirical Evidence from the Office Buildings Market in Milan (Italy)," Sustainability, MDPI, vol. 11(1), pages 1-14, December.
    2. Antonio Nesticò & Shuquan He & Gianluigi De Mare & Renato Benintendi & Gabriella Maselli, 2018. "The ALARP Principle in the Cost-Benefit Analysis for the Acceptability of Investment Risk," Sustainability, MDPI, vol. 10(12), pages 1-22, December.
    3. Vincenzo Del Giudice & Pierfrancesco De Paola & Torrieri Francesca & Peter J. Nijkamp & Aviad Shapira, 2019. "Real Estate Investment Choices and Decision Support Systems," Sustainability, MDPI, vol. 11(11), pages 1-18, June.

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