IDEAS home Printed from https://ideas.repec.org/a/vrs/remava/v29y2021i1p12-20n4.html
   My bibliography  Save this article

The Influence of Dissimilarity of Comparables on the Correctness of Estimation in the Comparative Approach Procedure

Author

Listed:
  • Zyga Jacek

    (Faculty of Engineering and Architecture, Lublin University of Technology)

Abstract

The subject of this article is the still relevant issue of the adequate choice of comparables in evaluation procedures within the sales comparison approach. The text features the results of an experiment that makes it possible to validate the dependence of the accuracy of the final estimation of the price of valued objects in relation to the criteria of significance of similarity as a determinant of accepting individual objects as sufficiently similar, and the dissimilarity coefficients describing the created reference sets. Based on the example of simulated data, it has been shown that there is a clear relationship between the accuracy of the estimates made and the selection of comparables. In a set of all possible calculation variations, estimations based on selected data are characterized by more accurate calculations relative to parallel calculations carried out on the widest possible sets of comparables.

Suggested Citation

  • Zyga Jacek, 2021. "The Influence of Dissimilarity of Comparables on the Correctness of Estimation in the Comparative Approach Procedure," Real Estate Management and Valuation, Sciendo, vol. 29(1), pages 12-20, March.
    • Handle: RePEc:vrs:remava:v:29:y:2021:i:1:p:12-20:n:4
    DOI: 10.2478/remav-2021-0002
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/remav-2021-0002
    Download Restriction: no
    File URL: https://libkey.io/10.2478/remav-2021-0002?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    dissimilarity; property price model; comparables selection; property valuation;
    All these keywords.

    JEL classification:

    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation

    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:vrs:remava:v:29:y:2021:i:1:p:12-20:n:4. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    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.