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Search For Dissimilarity Factors For Nominally Indiscernible Facilities

Search For Dissimilarity Factors For Nominally Indiscernible Facilities Abstract The similarity between premises, statutorily defined as the comparability of the compiled objects, is, in practice, identified by the statement of identity or the proximity of evaluation of the selected features describing the complied objects. Independent of the nature of these features (qualitative or quantitative), as well as of the method of identifying the proximity of their prices, the quest process for similar premises ends in the compilation of these premises into a group, which continues to remain inconsistent to some extent. The inevitable heterogeneity of the prices of premises summarized in this way leads to the suspicion that other features which had not been taken into account during the current stages of analysis exist. The identification of these features can significantly improve the quality of the valuation process based on the selected premises. The presented article discusses a method of identifying the plausible number of indiscernible factors influencing the differentiation of unitary prices in an analyzed set of premises, in the event when the collected information on these premises does not provide sufficient knowledge on the reasons behind such a differentiation. The result of the performed research can, in practice, be applied to program the procedures for the data search, and hence reduce the costs related to the acquisition of information on the premises (e.g. from the real estate market). http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Real Estate Management and Valuation de Gruyter

Search For Dissimilarity Factors For Nominally Indiscernible Facilities

Real Estate Management and Valuation , Volume 23 (3) – Sep 1, 2015

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Publisher
de Gruyter
Copyright
Copyright © 2015 by the
ISSN
2300-5289
eISSN
2300-5289
DOI
10.1515/remav-2015-0026
Publisher site
See Article on Publisher Site

Abstract

Abstract The similarity between premises, statutorily defined as the comparability of the compiled objects, is, in practice, identified by the statement of identity or the proximity of evaluation of the selected features describing the complied objects. Independent of the nature of these features (qualitative or quantitative), as well as of the method of identifying the proximity of their prices, the quest process for similar premises ends in the compilation of these premises into a group, which continues to remain inconsistent to some extent. The inevitable heterogeneity of the prices of premises summarized in this way leads to the suspicion that other features which had not been taken into account during the current stages of analysis exist. The identification of these features can significantly improve the quality of the valuation process based on the selected premises. The presented article discusses a method of identifying the plausible number of indiscernible factors influencing the differentiation of unitary prices in an analyzed set of premises, in the event when the collected information on these premises does not provide sufficient knowledge on the reasons behind such a differentiation. The result of the performed research can, in practice, be applied to program the procedures for the data search, and hence reduce the costs related to the acquisition of information on the premises (e.g. from the real estate market).

Journal

Real Estate Management and Valuationde Gruyter

Published: Sep 1, 2015

References