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Principles and Criteria for using Statistical Parametric Models and Conditional Models for Valuation of Multi-Component Real Estate

Author

Listed:
  • Adamczyk Tomasz

    (AGH University of Science and Technology, Department of Geomatics)

  • Bieda Agnieszka

    (AGH University of Science and Technology, Department of Geomatics)

  • Parzych Piotr

    (AGH University of Science and Technology, Department of Geomatics)

Abstract

The complexity of multi-component real properties results from the possibility of identifying various components in legal, physical or functional terms. The possibility of distinguishing various functional elements of real properties, combined with the specificity resulting from their market properties, is problematic when applying the comparative approach to real estate valuation. In this case, the valuation procedure can be implemented using statistical models: the parametric model or the conditional one.

Suggested Citation

  • Adamczyk Tomasz & Bieda Agnieszka & Parzych Piotr, 2019. "Principles and Criteria for using Statistical Parametric Models and Conditional Models for Valuation of Multi-Component Real Estate," Real Estate Management and Valuation, Sciendo, vol. 27(2), pages 33-43, June.
    • Handle: RePEc:vrs:remava:v:27:y:2019:i:2:p:33-43:n:3
    DOI: 10.2478/remav-2019-0013
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    References listed on IDEAS

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    1. Zhangcheng Chen & Yueming Hu & Chen Jason Zhang & Yilun Liu, 2017. "An Optimal Rubrics-Based Approach to Real Estate Appraisal," Sustainability, MDPI, vol. 9(6), pages 1-19, May.
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    More about this item

    Keywords

    conditional model; parametric model; statistical models; real estate valuation; statistical analysis of the market; multi-component real estate;
    All these keywords.

    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection

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