Observatorio de I+D+i UPM

Memorias de investigación
Communications at congresses:
PRICE FORMATION AND REAL ESTATE CHARACTERISTICS RESIDENCIAL REAL ESTATE, LISBON - PORTUGAL
Year:2012
Research Areas
  • Technical staff,
  • Architects,
  • Constructions,
  • Architectonical activitie
Information
Abstract
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 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.
International
Si
Congress
XXXVIII IAHS World Congress 2012
960
Place
Istanbul, Turquia
Reviewers
Si
ISBN/ISSN
978-975-561-417-5
Start Date
16/04/2012
End Date
19/04/2012
From page
1214
To page
1219
Proceedings of the XXXVIII IAHS World Congress Visions for the Future of Housing Mega Cities
Participants
  • Autor: Antonio Jorge Ferreira Vaz (UPM)
  • Autor: Federico Garcia Erviti (UPM)
  • Autor: Juan Francisco Padial Molina (UPM)
Research Group, Departaments and Institutes related
  • Creador: Grupo de Investigación: Regulación y análisis económico del proceso edificatorio.
  • Departamento: Construcción y Tecnología Arquitectónicas
  • Departamento: Matemática Aplicada a la Edificación, al Medio Ambiente y al Urbanismo
S2i 2020 Observatorio de investigación @ UPM con la colaboración del Consejo Social UPM
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