Original scientific paper

Mass Appraisal – International Background, Polish Solutions and Proposal of new Methods Application

Marek Walacik ; Faculty of Geodesy and Land Management, University of Warmia and Mazury in Olsztyn, Olsztyn, Poland
Radosław Cellmer ; Faculty of Geodesy and Land Management, University of Warmia and Mazury in Olsztyn, Olsztyn, Poland
Sabina Źróbek ; Faculty of Geodesy and Land Management, University of Warmia and Mazury in Olsztyn, Olsztyn, Poland

Abstract

The aim of the paper was to investigate in general the mass appraisal solutions worked out throughout years in chosen countries and compare them to methods adopted in Poland. Moreover, authors tried to propose the use of new methods for estimating values of properties: geographically weighted regression, spatial autoregressive models, regression-kriging, underlining their advantages both on theoretical and practical background. The case study research conducted on the example of Olsztyn City (Warmia and Mazury Province, Poland) has shown particular advantages of proposed methods. First of all the combination of them enables not only assessment of different attributes of property on its value but also presentation of the analysis results on different maps. Statistical models including spatial relationship can be successfully used in mass appraisal. One ought to remember that these are better tools than the classical methods only when one can notice spatial autocorrelation in transaction prices. This condition is satisfied in most local markets, although there may be exceptional circumstances when the location of the property does not affect its price. In that case, the models would be equivalent to the classical methods.

Keywords

mass appraisal models; valuation; real estate; geographically weighted regression; spatial autoregressive; regression-kriging

Hrčak ID:

112439

URI

https://hrcak.srce.hr/112439

Publication date:

16.12.2013.

Article data in other languages: croatian

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