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Fuzzy numbers for the assessment of real estate market and property valuation

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  • Nikolai Siniak

Abstract

The paper is focused on the use of fuzzy numbers in some different spheres ñ real estate researches, investments and valuation. The real estate market is not perfect and it is subject of many external influences, such as: an economic situation in the country, seasonal activity, availability of financial assets. Therefore it doesnít have precise logic connections and definitions. That is why it is necessary to use fuzzy numbers when we research a real estate market. The process of estimation of real estate investments of any country considerably becomes simpler. In paper is analyzed the real estate market of Minsk ñ the capital of Belarus. It was used fuzzy numbers. At the second part of paper it will be shown that fuzzy numbers allows us to get model for the property valuation.

Suggested Citation

  • Nikolai Siniak, 2001. "Fuzzy numbers for the assessment of real estate market and property valuation," ERES eres2001_279, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2001_279
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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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