scholarly journals Conditional Model of Real Estate Valuation for Land Located in Different Land Use Zones

2018 ◽  
Vol 26 (1) ◽  
pp. 122-130 ◽  
Author(s):  
Agnieszka Bieda
Keyword(s):  
Land Use ◽  
Real Estate ◽  
Land Uses ◽  
Conditional Model ◽  
The Real ◽  
The Real Estate ◽  
Transaction Prices ◽  
Real Estate Valuation

Abstract* Real estate valuation is carried out correctly if it takes into account all the conditions occurring on a given market at the time of its performance. One of the important determinants of correct valuation is the proper determination of the land use class of the property being valued. It is equally important to find similar properties with the same land use classes as the property subjected to valuation. This does not pose a problem when a property is located within an area with one specific land use zone. If, however, its land use zoning is not homogeneous, finding similar properties may be difficult. If those contained in the database of comparable properties differ from the real estate being valued with regard to land uses of individual areas or proportions of areas with a specific use, it is suggested to divide transaction prices obtained for the whole property into components of those prices that correspond to the fragments of this property with specific land uses. In this paper, the conditional model has been used for this purpose.

scholarly journals Problematic aspects of registering ecological land-use in the Real Estate Cadastre

2019 ◽  
Vol 86 ◽  
pp. 00007
Author(s):  
Piotr Benduch ◽  
Agnieszka Pęska-Siwik ◽  
Paweł Hanus
Keyword(s):  
Land Use ◽  
Real Estate ◽  
Surface Area ◽  
Statistical Data ◽  
Land Uses ◽  
Legal Regulations ◽  
The Real Estate ◽  
Proper Interpretation ◽  
Informational System

Land-use as a part of the earth’s surface used in an unitary manner, constitutes as one of the objects of Real Estate Cadastre in Poland. This register gathers data concerning actual grounds status, buildings and premises. Cadastre is carried out in an informational system on the basis of Geodetic and Cartographic Law and its implementing act. The contents of mentioned legal regulations are very general in terms of capturing and revealing data on ecological land-use. The rules are also related to environmental protection law. It often makes its proper interpretation difficult. In this article, the study aimed to systematize information about recording ecological land-uses in Polish Real Estate Cadastre has been performed. Practical and legal solutions concerning determination of the ecological land-uses coverage have been presented. The authors evaluate an order of individual activities leading to ecological land-use disclosure in cadastral database. The consequences and constraints in enforcing the ownership to land property or its parts where ecological land-use was allocated are analyzed as well. The statistical data in the scope of number and surface area of ecological land-uses in individual provinces have also been demonstrated.

scholarly journals Application of AHP Method in Assessment of the Influence of Attributes on Value in the Process of Real Estate Valuation

2019 ◽  
Vol 27 (4) ◽  
pp. 15-26
Author(s):  
Krzysztof Dmytrów ◽  
Sebastian Gnat
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Comparative Approach ◽  
Ahp Method ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Valuation ◽  
The Impact ◽  
Hierarchy Process

Abstract Property valuation in the comparative approach requires the determination of the impact of market characteristics on the formation of prices on the local real estate market. Valuers have a variety of methods for determining weights. Some of them require the collection of a sufficiently large database of information on transactions. However, this is not always possible. In the absence of sufficient data, alternative approaches, including an expert approach, may be used. The goal of the article is the proposal of an expert approach at the stage of assessing the influence of attributes on the value of the real estate. The AHP (Analytical Hierarchy Process) method will be used. On its basis, pairwise comparisons of the importance of attributes will be done by experts (valuers). By means of the AHP method, the weights of each attribute will be obtained and, subsequently, the influence of each attribute on the real estate value will be assessed. Research will be done on the basis of 318 real estates in Szczecin.

scholarly journals The study of dependency between land-use coverage and parcel boundaries

2019 ◽  
Vol 86 ◽  
pp. 00006
Author(s):  
Piotr Benduch
Keyword(s):  
Land Use ◽  
Real Estate ◽  
Spatial Structure ◽  
Land Development ◽  
Analytical Form ◽  
Land Uses ◽  
Land Protection ◽  
The Real ◽  
The Real Estate ◽  
Gis Tools

Land-use constitutes a part of the earth’s surface which is used in a specific, unitary manner. In Poland, data concerning land-uses are registered in the Real Estate Cadastre. This data plays an important role, inter alia, in the context of land properties taxation as well as performing statistical analyses in the field of spatial structure and land development form on various levels of administrative division of a country. Data on land-uses also form basis for activities aimed to agricultural and forest land protection. In this article, the study concerning identification of dependency between parcel boundaries and land-use coverage has been conducted. Occurrence of such a dependency is determined by the characteristics of Polish legal regulations and the fact of carrying out the Real Estate Cadastre in the form of informational system. On this basis it could be concluded that parcel boundary is one of determinants influencing the coverage shape of specific land use form. Using GIS tools, the assessment of size of this impact has been performed at the level of individual land properties as well as the whole cadastral districts. The spatial structure of land-uses in selected cadastral districts in southern Poland has been also compared. The results of analysis were presented both in graphical and analytical form.

Assessment of rational land use based on capitalization ratio: methodological approach

2021 ◽  
pp. 764-769
Author(s):  
V.I. Svetlakov
Keyword(s):  
Land Use ◽  
Real Estate ◽  
Methodological Approach ◽  
Real Estate Market ◽  
Land Value ◽  
Resource Model ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market

The article provides a methodological approach to land value calculation and determination of the capitalization ratios. Based on the analysis of methods for land assessment, it is proposed to calculate the capitalization ratio by solving a system consisting of seven equations characterizing the state of the real estate market. The areas of possible use of the approach and the need to develop a resource model for the decomposition of real estate objects are substantiated in this paper.

scholarly journals Evaluation of the Applicability of Statistical Methods in Studies on Price Dynamics on the Real Estate Market

2013 ◽  
Vol 21 (1) ◽  
pp. 49-58 ◽  
Author(s):  
Sebastian Kokot ◽  
Marcin Bas
Keyword(s):  
Real Estate ◽  
Traditional Approach ◽  
Real Estate Market ◽  
Price Dynamics ◽  
The Real ◽  
The Real Estate ◽  
Transaction Prices ◽  
Time Period ◽  
The Real Estate Market ◽  
Real Estate Prices

Abstract The specific character of the real estate market is the reason why observations of transaction prices seen as statistical variables are taken in a non-standard way. In the traditional approach each time period or specific moments of time are attributed with one observation of a studied variable per one object. In the case of the real estate market, this is not possible since transactions relate to different objects, i.e., properties, and occur at irregular, or even random, moments. This is why traditional methods used to examine the dynamics of economic phenomena must be adapted to specific conditions on the real estate market. Keeping that in mind, the aim of this paper is to adapt classical statistical examination methods of dynamics to specific conditions of the real estate market followed by the actual examination of the dynamics of real estate prices in three sub-segments of the housing market in Szczecin. On its basis, the authors evaluate various methods of examining real estate price dynamics in terms of their applicability in real estate appraisal procedures and, in a broader perspective, present characteristic phenomena that can be observed on the real estate market.

scholarly journals Use of Statistical Models for Simulating Transactions on the Real Estate Market

2015 ◽  
Vol 23 (2) ◽  
pp. 102-111 ◽  
Author(s):  
Radosław Cellmer ◽  
Katarzyna Szczepankowska
Keyword(s):  
Probability Distribution ◽  
Real Estate ◽  
Statistical Models ◽  
Real Estate Market ◽  
Model Parameters ◽  
The Real ◽  
The Real Estate ◽  
Transaction Prices ◽  
The Real Estate Market ◽  
Real Estate Prices

Abstract The regularities and relations between real estate prices and the factors that shape them may be presented in the form of statistical models, thanks to which the diagnosis and prediction of prices is possible. A formal description of empirical observation presented in the form of regressive models also offers a possibility for creating certain phenomena in a virtual dimension. Market phenomena cannot be fully described with the use of determinist models, which clarify only a part of price variation. The predicted price is, in this situation, a special case of implementing a random function. Assuming that other implementations are also possible, regressive models may constitute a basis for simulation, which results in the procurement of a future image of the market. Simulation may refer both to real estate prices and transaction prices. The basis for price simulation may be familiarity with the structure of the analyzed market data. Assuming that this structure has a static character, simulation of real estate prices is performed on the basis of familiarity with the probability distribution and a generator of random numbers. The basis for price simulation is familiarity with model parameters and probability distribution of the random factor. The study presents the core and theoretical description of a transaction simulation on the real estate market, as well as the results of an experiment regarding transaction prices of office real estate located within the area of the city of Olsztyn. The result of the study is a collection of virtual real properties with known features and simulated prices, constituting a reflection of market processes which may take place in the near future. Comparison between the simulated characteristic and actual transactions in turn allows the correctness of the description of reality by the model to be verified.

scholarly journals Research on Factors Affecting Real Estate Values by Data Mining

2018 ◽  
Vol 6 (1) ◽  
pp. 220-239 ◽  
Author(s):  
Filiz Ersoz ◽  
Taner Ersoz ◽  
Muhammet Soydan
Keyword(s):  
Data Mining ◽  
Real Estate ◽  
Statistical Modelling ◽  
Unit Price ◽  
City Centre ◽  
Important Place ◽  
Factors Affecting ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Valuation

Abstract Construction sector has an important place in Turkey’s economy. Real estate sales for the sector are increasing in parallel. However, the purchase cost is also important for those who are willing to buy a real estate. In the acquisition of real estate, factors such as size, location and age of the house are taken into consideration. The aim of the article is to conduct research on factors affecting real estate values by data mining. In this study, the most important variables that determine the value of the real estate have been investigated by data mining methods. The research has been carried out in Karabük and the variables determined according to the opinions of real estate experts. As classification methods, CHAID and C&RT algorithms have been used. It has been evaluated that both algorithm estimation results can be used. Within the framework of the study, the variables that have the most impact on the unit price have been determined, such as the size of the real estate, the distance to the city centre, the popularity, and the age of the building. The use of advanced technologies, such as statistical modelling and machine learning in real estate valuation and automatic value estimation, is of importance in determining the real value of the real estate.

scholarly journals LAND MANAGEMENT IN THE CONTEXT OF DIGITALIZATION

2020 ◽  
Vol 4 ◽  
pp. 140-146
Author(s):  
G.K. KURMANOVA ◽  
Keyword(s):  
Land Use ◽  
Information System ◽  
Real Estate ◽  
Land Management ◽  
Spatial Data ◽  
Free Access ◽  
The Real ◽  
The Real Estate ◽  
Digital Format ◽  
The Creation

To identify problems in land management and find ways to solve them, the modern structure of organization of rational land use is considered. The analysis of the digitalization of economy in advanced foreign countries is carried out. It has been determined that in order to implement effective land policy, it is necessary to use modern geoinformation technologies, in particular, introduction of digitalization in the field of land relations regulation. It was revealed that in recent years digital technologies have been actively used in agriculture of the republic on the basis of space monitoring, which makes it possible to determine the areas of agricultural crops, species yield, and weediness of fields. The efficiency of land management based on the creation of information system - a unified state cadastre of real estate for the implementation of the State program "Digital Kazakhstan" is shown. In matters of improving land use, it foresees the creation and implementation of a State cadastre of real estate and national spatial data infrastructure. Currently, a pilot project is being carried out to combine two information systems in order to obtain a unified information system for the real estate cadastre. It was concluded that provision of all types of services in accordance with land legislation must be converted into a digital format, thanks to which the public can get free access to information, the necessary services at a distance (without the obligatory attendance at public service centers), as well as in operational mode of obtaining them. For the efficient and rational use of land and work with real estate, a new structure should be created - the Real Estate Management Agency.

scholarly journals Diversified Price Dynamics in some Sub-Segments of the Housing Market

2015 ◽  
Vol 15 (1) ◽  
pp. 162-173
Author(s):  
Sebastian G. Kokot
Keyword(s):  
Real Estate ◽  
Price Index ◽  
Real Estate Market ◽  
Quality Of Data ◽  
The Real ◽  
The Real Estate ◽  
Transaction Prices ◽  
The Real Estate Market ◽  
Price Movements

Abstract The observation of price movements on the real estate market is an extremely difficult task as we have to face problems belonging to two spheres. The first of them is the specific nature of real estate as marketable objects and of the real estate market itself. The second one is the character and quality of data on real estate transaction prices. In this article the author, based on an empirical study, attempts to prove that even in a single segment of a local real estate market the prices in individual sub-segments can fluctuate with different intensity. The range of price movements can be so vast that it seems pointless to apply a single averaged price index for the whole segment, and usually that is what analysts do.

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