Publicação
Price formation and real estate characteristics : residential Real Estate, Lisbon – Portugal
| Resumo: | The discretionality and the appraisers’ subjectivity that characterize traditional real estate valuation are still allowed to take part in the formation of the asset price even when respecting international standards (EVS, IVS) or Appraisal Institution´s regulations (TEGOVA, RICS, etc.). The application of Econometric Methods to real estate valuation by the use of statistic procedures aims at the elimination of subjectivity on the appraisal process. On this study, Hedonic Models (Econometric Methods applied to Real Estate Appraisal) are used to determine the most important characteristics that define the multifamily residential real estate selling price and therefore to make estimations on real estate selling price (knowing the asset characteristics). Two different Statistical Techniques were used in order to compare the results: Multiple Lineal Regression; and Factorial Analysis. These techniques were applied to a sample of 82 flats for sale located in Lisbon, Portugal. From the 15 studied characteristics, we conclude that the ones the ones that determine/influence the most the asset price are: Area (m2); Nr. of Bathrooms; Privileged View; Nr. of Parking places. Using these 4 variables the asset’s price estimation model obtained explains 80, 9% of the Real Estate selling Price. |
|---|---|
| Autores principais: | Vaz, António Jorge Ferreira |
| Outros Autores: | Garcia Erviti, Federico; Padial Molina, Francisco |
| Assunto: | Real estate valuation Hedonic statistical models Appraisal Real value formation Residencial real estate |
| Ano: | 2012 |
| País: | Portugal |
| Tipo de documento: | documento de conferência |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Instituto Politécnico de Bragança |
| Idioma: | inglês |
| Origem: | Biblioteca Digital do IPB |
| _version_ | 1867172682123968512 |
|---|---|
| author | Vaz, António Jorge Ferreira |
| author2 | Garcia Erviti, Federico Padial Molina, Francisco |
| author2_role | author author |
| author_facet | Vaz, António Jorge Ferreira Garcia Erviti, Federico Padial Molina, Francisco |
| author_role | author |
| contributor_name_str_mv | Biblioteca Digital do IPB |
| country_str | PT |
| creators_json_txt | [{\"Person.name\":\"Vaz, António Jorge Ferreira\",\"Person.identifier.orcid\":\"0000-0001-9421-5894\"},{\"Person.name\":\"Garcia Erviti, Federico\"},{\"Person.name\":\"Padial Molina, Francisco\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | Biblioteca Digital do IPB |
| datacite.creators.creator.creatorName.fl_str_mv | Vaz, António Jorge Ferreira Garcia Erviti, Federico Padial Molina, Francisco |
| datacite.date.Accepted.fl_str_mv | 2012-01-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2014-01-03T10:30:01Z |
| datacite.date.embargoed.fl_str_mv | 2014-01-03T10:30:01Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| datacite.subjects.subject.fl_str_mv | Real estate valuation Hedonic statistical models Appraisal Real value formation Residencial real estate |
| datacite.titles.title.fl_str_mv | Price formation and real estate characteristics : residential Real Estate, Lisbon – Portugal |
| dc.contributor.none.fl_str_mv | Biblioteca Digital do IPB |
| dc.creator.none.fl_str_mv | Vaz, António Jorge Ferreira Garcia Erviti, Federico Padial Molina, Francisco |
| dc.date.Accepted.fl_str_mv | 2012-01-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2014-01-03T10:30:01Z |
| dc.date.embargoed.fl_str_mv | 2014-01-03T10:30:01Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10198/9061 |
| dc.language.none.fl_str_mv | eng |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| dc.subject.none.fl_str_mv | Real estate valuation Hedonic statistical models Appraisal Real value formation Residencial real estate |
| dc.title.fl_str_mv | Price formation and real estate characteristics : residential Real Estate, Lisbon – Portugal |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_c94f |
| description | The discretionality and the appraisers’ subjectivity that characterize traditional real estate valuation are still allowed to take part in the formation of the asset price even when respecting international standards (EVS, IVS) or Appraisal Institution´s regulations (TEGOVA, RICS, etc.). The application of Econometric Methods to real estate valuation by the use of statistic procedures aims at the elimination of subjectivity on the appraisal process. On this study, Hedonic Models (Econometric Methods applied to Real Estate Appraisal) are used to determine the most important characteristics that define the multifamily residential real estate selling price and therefore to make estimations on real estate selling price (knowing the asset characteristics). Two different Statistical Techniques were used in order to compare the results: Multiple Lineal Regression; and Factorial Analysis. These techniques were applied to a sample of 82 flats for sale located in Lisbon, Portugal. From the 15 studied characteristics, we conclude that the ones the ones that determine/influence the most the asset price are: Area (m2); Nr. of Bathrooms; Privileged View; Nr. of Parking places. Using these 4 variables the asset’s price estimation model obtained explains 80, 9% of the Real Estate selling Price. |
| dirty | 0 |
| eu_rights_str_mv | openAccess |
| format | conferenceObject |
| fulltext.url.fl_str_mv | https://bibliotecadigital.ipb.pt/bitstreams/a10e4a31-f04f-44b7-a675-28e669bef381/download |
| id | ipb_1b9beb7de1d3ff8a1ee4f792fd2249d8 |
| identifier.url.fl_str_mv | http://hdl.handle.net/10198/9061 |
| instacron_str | ipb |
| institution | Instituto Politécnico de Bragança |
| instname_str | Instituto Politécnico de Bragança |
| language | eng |
| network_acronym_str | ipb |
| network_name_str | Biblioteca Digital do IPB |
| oai_identifier_str | oai:bibliotecadigital.ipb.pt:10198/9061 |
| organization_str_mv | urn:organizationAcronym:ipb |
| person_str_mv | Vaz, António Jorge Ferreira Vaz, António Jorge Ferreira https://www.ciencia-id.pt/401A-7B51-9199 401A-7B51-9199 http://orcid.org/0000-0001-9421-5894 0000-0001-9421-5894 Garcia Erviti, Federico Padial Molina, Francisco |
| publishDate | 2012 |
| reponame_str | Biblioteca Digital do IPB |
| repository_id_str | urn:repositoryAcronym:ipb |
| service_str_mv | urn:repositoryAcronym:ipb |
| spelling | engporThe discretionality and the appraisers’ subjectivity that characterize traditional real estate valuation are still allowed to take part in the formation of the asset price even when respecting international standards (EVS, IVS) or Appraisal Institution´s regulations (TEGOVA, RICS, etc.). The application of Econometric Methods to real estate valuation by the use of statistic procedures aims at the elimination of subjectivity on the appraisal process. On this study, Hedonic Models (Econometric Methods applied to Real Estate Appraisal) are used to determine the most important characteristics that define the multifamily residential real estate selling price and therefore to make estimations on real estate selling price (knowing the asset characteristics). Two different Statistical Techniques were used in order to compare the results: Multiple Lineal Regression; and Factorial Analysis. These techniques were applied to a sample of 82 flats for sale located in Lisbon, Portugal. From the 15 studied characteristics, we conclude that the ones the ones that determine/influence the most the asset price are: Area (m2); Nr. of Bathrooms; Privileged View; Nr. of Parking places. Using these 4 variables the asset’s price estimation model obtained explains 80, 9% of the Real Estate selling Price.application/pdfporPrice formation and real estate characteristics : residential Real Estate, Lisbon – PortugalPersonalVaz, António Jorge FerreiraDSpacehttp://dspace.org/items/16956931-515f-499c-a248-96722a06d70eDSpacehttp://dspace.org/items/16956931-515f-499c-a248-96722a06d70eVazAntónio Jorge FerreiraCiência IDhttps://www.ciencia-id.pt401A-7B51-9199ORCIDhttp://orcid.org0000-0001-9421-5894Garcia Erviti, FedericoPadial Molina, FranciscoHostingInstitutionOrganizationalBiblioteca Digital do IPBe-mailmailto:dspace@ipb.ptdspace@ipb.ptISBNIsPartOf978-975-561-417-52014-01-03T10:30:01Z20122012-01-01T00:00:00ZHandlehttp://hdl.handle.net/10198/9061http://purl.org/coar/access_right/c_abf2open accessReal estate valuationHedonic statistical modelsAppraisalReal value formationResidencial real estate3354994 bytesother research producthttp://purl.org/coar/resource_type/c_c94fconference objecthttp://purl.org/coar/access_right/c_abf2application/pdffulltexthttps://bibliotecadigital.ipb.pt/bitstreams/a10e4a31-f04f-44b7-a675-28e669bef381/downloadXXXVIII IAHS World Congress Visions for the Future of Housing MEGA CITIES APRIL 2012 - ISTANBUL TECHNICAL UNIVERSITY263263Istanbul Technical University - Turkey |
| spellingShingle | Price formation and real estate characteristics : residential Real Estate, Lisbon – Portugal Vaz, António Jorge Ferreira Real estate valuation Hedonic statistical models Appraisal Real value formation Residencial real estate |
| status | SINGLETON |
| subject.fl_str_mv | Real estate valuation Hedonic statistical models Appraisal Real value formation Residencial real estate |
| title | Price formation and real estate characteristics : residential Real Estate, Lisbon – Portugal |
| title_full | Price formation and real estate characteristics : residential Real Estate, Lisbon – Portugal |
| title_fullStr | Price formation and real estate characteristics : residential Real Estate, Lisbon – Portugal |
| title_full_unstemmed | Price formation and real estate characteristics : residential Real Estate, Lisbon – Portugal |
| title_short | Price formation and real estate characteristics : residential Real Estate, Lisbon – Portugal |
| title_sort | Price formation and real estate characteristics : residential Real Estate, Lisbon – Portugal |
| topic | Real estate valuation Hedonic statistical models Appraisal Real value formation Residencial real estate |
| topic_facet | Real estate valuation Hedonic statistical models Appraisal Real value formation Residencial real estate |
| url | http://hdl.handle.net/10198/9061 |
| visible | 1 |