IDEAS home Printed from https://ideas.repec.org/a/sgm/resrep/v2i22y2016p249-256.html
   My bibliography  Save this article

The Application of the Shepard’s Interpolation for a Property Valuation (Zastosowanie metody Sheparda do szacowania nieruchomosci)

Author

Listed:
  • Rafal Zbyrowski

    (Wydzial Zarzadzania, Uniwersytet Warszawski)

Abstract

The main purpose of this paper is an application of Shepard’s interpolation method in valuing flats in Warsaw. This method was originally invented for a two-dimensional interpolation. Therefore the aplication is based on district “Bia³o³eka”, where the major issues are a number of square meters and age of building. The case of the application of Shepard’s interpolation method to a database on “Bia³o³êka” is compared to a classic linear regression model. This article also describes the background of valuing real estates using automatic or mathematical methods in the conclusions. These quantitative methods may be very useful for experts as a fast support. Anyway the experts should be aware of its adventages and disadventages. The market in Poland is shaped by many micro- and macroeconomic processes, hence valuing is a challenge even for experts.

Suggested Citation

  • Rafal Zbyrowski, 2016. "The Application of the Shepard’s Interpolation for a Property Valuation (Zastosowanie metody Sheparda do szacowania nieruchomosci)," Research Reports, University of Warsaw, Faculty of Management, vol. 2(22), pages 249-256.
    • Handle: RePEc:sgm:resrep:v:2:i:22:y:2016:p:249-256
    as

    Download full text from publisher

    File URL: http://www.sim.wz.uw.edu.pl/sites/default/files/artykuly/zbyrowski2.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Shiller, Robert J & Weiss, Allan N, 1999. "Evaluating Real Estate Valuation Systems," The Journal of Real Estate Finance and Economics, Springer, vol. 18(2), pages 147-161, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tien Foo Sing & Jesse Jingye Yang & Shi Ming Yu, 2022. "Boosted Tree Ensembles for Artificial Intelligence Based Automated Valuation Models (AI-AVM)," The Journal of Real Estate Finance and Economics, Springer, vol. 65(4), pages 649-674, November.
    2. Robert J. Shiller, 2014. "Speculative Asset Prices (Nobel Prize Lecture)," Cowles Foundation Discussion Papers 1936, Cowles Foundation for Research in Economics, Yale University.
    3. Robert J. Shiller, 2014. "Speculative Asset Prices," American Economic Review, American Economic Association, vol. 104(6), pages 1486-1517, June.
    4. Rainer Schulz & Martin Wersing & Axel Werwatz, 2014. "Automated valuation modelling: a specification exercise," Journal of Property Research, Taylor & Francis Journals, vol. 31(2), pages 131-153, June.
    5. Miriam Steurer & Robert Hill, 2019. "Metrics for Evaluating the Performance of Automated Valuation Models," Graz Economics Papers 2019-02, University of Graz, Department of Economics.
    6. Vicente Royuela & Miguel A. Vargas, 2009. "Defining Housing Market Areas Using Commuting and Migration Algorithms: Catalonia (Spain) as a Case Study," Urban Studies, Urban Studies Journal Limited, vol. 46(11), pages 2381-2398, October.
    7. Schulz, Rainer, 2002. "Real estate valuation according to standardized methods: An empirical analysis," SFB 373 Discussion Papers 2002,55, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
    8. Steven Peterson & Albert B. Flanagan, 2009. "Neural Network Hedonic Pricing Models in Mass Real Estate Appraisal," Journal of Real Estate Research, American Real Estate Society, vol. 31(2), pages 147-164.

    More about this item

    Keywords

    real estate; housing; models and applications; valuating;
    All these keywords.

    JEL classification:

    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sgm:resrep:v:2:i:22:y:2016:p:249-256. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/somuwpl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.