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Title of the item:

Linear and Nonlinear Weighing of Property Features

Title :
Linear and Nonlinear Weighing of Property Features
Authors :
Barańska Anna
Show more
Subject Terms :
real estate market analysis
real estate features weights
linear and non-linear correlation
C00
C01
C13
C15
C50
C51
L85
R30
Real estate business
HD1361-1395.5
Source :
Real Estate Management and Valuation, Vol 27, Iss 1, Pp 59-68 (2019)
Publisher :
Sciendo, 2019.
Publication Year :
2019
Document Type :
article
File Description :
electronic resource
Language :
English
ISSN :
2300-5289
Relation :
http://www.degruyter.com/view/j/remav.2019.27.issue-1/remav-2019-0006/remav-2019-0006.xml?format=INT; https://doaj.org/toc/2300-5289
DOI :
10.2478/remav-2019-0006
Access URL :
https://doaj.org/article/b4a26ce754c74d6195ac5b8068b296af
Rights :
Journal Licence: CC BY-NC-ND
Accession Number :
edsdoj.b4a26ce754c74d6195ac5b8068b296af
Academic Journal
Determining the weights of market features of real estate in explaining their prices is one of the basic objectives of market analysis, performed as part of the property value estimation process. In practice, property appraisers usually settle for basic methods of determining weights, for example based on the principle of ceteris paribus or on the basis of linear correlation coefficients. The article proposes the use of curvilinear correlation coefficients for this purpose; an attempt of such use was made and the obtained results were compared with the weights determined on the basis of linear correlations. The conducted analyses proved that the inclusion of curvilinear correlations at the stage of market analysis, allows for extracting a greater number of features recognized as price-creating, i.e. leads to a smaller loss of market information and is a more reliable tool for determining the weights of attributes in price explanation.

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