Modelling of a market value of objects of the real estate in Krasnoyarsk

2005 ◽  
Author(s):  
I. Denisenko ◽  
N. Uferova
Keyword(s):  
Real Estate ◽  
Market Value ◽  
The Real ◽  
The Real Estate

scholarly journals Civil Engineering Inspection for Real Estate Evaluation with the Use of Artificial Learning Algorithms and Fuzzy Logic

2020 ◽  
Vol 43 (338) ◽  
pp. 75-82
Author(s):  
Vladimir Surgelas ◽  
Irina Arhipova ◽  
Vivita Pukite
Keyword(s):  
Artificial Intelligence ◽  
Fuzzy Logic ◽  
Real Estate ◽  
Civil Engineering ◽  
Market Value ◽  
The State ◽  
The Real ◽  
The Real Estate ◽  
Technical Inspection ◽  
Physical Conditions

AbstractThe technical inspection of a building carried out by an expert in civil engineering can identify and classify the physical conditions of the real estate; this generates relevant information for the protection and safety of users. Given the real conditions of the property, and for the real estate valuation universe, using artificial intelligence and fuzzy logic, it is possible to obtain the market price associated with the physical conditions of the building. The objective of this experiment is to develop a property evaluation model using a civil engineering inspection form associated with artificial intelligence, and fuzzy logic, and also compare with market value to verify the applicability of this inspection form. Therefore, the methodology used is based on technical inspection of civil engineering regarding the state of conservation of properties according to the model used in Portugal and adapted to the reality of Latvia. Artificial intelligence is applied after obtaining data from that report. From this, association rules are obtained, which are used in the diffuse logic to obtain the price of the apartment per square meter, and for comparison with the market value. For this purpose, 48 samples of residential apartments located in the city of Jelgava in Latvia are used, with an inspection carried out from October to December 2019. The main result is the 9% error metric, which demonstrates the possibility of applying the method proposed in this experiment. Thus, for each apartment sample consulted, it resulted in the state of conservation and a market value associated.

Real Estate Valuation Fraud

2015 ◽  
pp. 278-291
Keyword(s):  
Real Estate ◽  
Market Value ◽  
Real Estate Market ◽  
Personal Gain ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Valuation ◽  
The Real Estate Market ◽  
Real Market

Valuation profession is a link between the borrower and the lender. Fraud is an intentional deliberate deception committed for illegitimate personal gain. There are several forms of real estate fraud, especially when the real estate market is facing a boom. The most widespread types of real estate fraud include the preparation of two sets of settlement statements, property flipping, and fraudulent qualifications. There are mainly three types of valuation to look out for. Valuation may be received from an unauthorized agency. Furthermore, a real valuation may be altered from the original to generate profit. Thirdly, intentional inflation of the value of a property will hide the real market value. It is usually difficult to spot real estate fraudulent activities, so deep investigations and professionalism is needed. This chapter explores real estate fraud.

Cyclical capitalization and lag vacancy

2017 ◽  
Vol 10 (2) ◽  
pp. 211-238 ◽  
Author(s):  
Maurizio d’Amato
Keyword(s):  
Real Estate ◽  
Market Value ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
Property Market ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Valuation Process

Purpose This paper aims to propose a new valuation method for income producing properties. The model originally called cyclical dividend discount models (d’Amato, 2003) has been recently proposed as a family of income approach methodologies called cyclical capitalization (d’Amato, 2013; d’Amato, 2015; d’Amato, 2017). Design/methodology/approach The proposed methodology tries to integrate real estate market cycle analysis and forecast inside the valuation process allowing the appraiser to deal with real estate market phases analysis and their consequence in the local real estate market. Findings The findings consist in the creation of a methodology proposed for market value and in particular for mortgage lending determination, as the model may have the capability to reach prudent opinion of value in all the real estate market phase. Research limitations/implications Research limitation consists mainly in a limited number of sample of time series of rent and in the forecast of more than a cap rate or yield rate even if it is quite commonly accepted the cyclical nature of the real estate market. Practical implications The implication of the proposed methodology is a modified approach to direct capitalization finding more flexible approaches to appraise income producing properties sensitive to the upturn and downturn of the real estate market. Social implications The model proposed can be considered useful for the valuation process of those property affected by the property market cycle, both in the mortgage lending and market value determination. Originality/value These methodologies try to integrate in the appraisal process the role of property market cycles. Cyclical capitalization modelling includes in the traditional dividend discount model more than one g-factor to plot property market cycle dealing with the future in a different way. It must be stressed the countercyclical nature of the cyclical capitalization that may be helpful in the determination of mortgage lending value. This is a very important characteristic of such models.

scholarly journals Market and cadastral data comparison for the real estate market value forecasting

2020 ◽  
Vol 17 (4) ◽  
pp. 44-54
Author(s):  
M. B. Laskin ◽  
P. A. Cherkesova
Keyword(s):  
Real Estate ◽  
Normal Distribution ◽  
Market Value ◽  
Real Estate Market ◽  
Residential Real Estate ◽  
Market Data ◽  
The Real ◽  
The Real Estate ◽  
Saint Petersburg ◽  
The Real Estate Market

The aim of the research is to develop theoretical and methodological approaches to market value forecasting in the real estate market. The relevance of the research is determined by the system-forming place that the real estate market occupies in the economy of the country and regions, affecting the interests of owners of various forms of ownership, construction and development companies, insurance companies, banks. Another aspect that determines the actuality of the study is the discrepancy between well-structured cadastral databases and market data dispersed between different owners of information resources, and the unstructured nature of market data, which in most cases is focused on advertising, rather than on analytical market research.Materials and methods. The study uses a model of a multidimensional logarithmically normal distribution law of the ensemble of prices for residential real estate at equidistant points of time and cadastral value, the ARIMA model for predicting market value, taking into account the features of the logarithmically normal distribution of prices, as a distribution with positive asymmetry. As a statistical material, we used market data on residential real estate published in the periodical press in the period from the end of 2012 to 2018. The volume of samples of weekly publications is 15000-20000 objects; data for 21 quarters (more than five years) was used. As a comparison base, we used data from cadastral registration of real estate objects in Saint Petersburg for 2018. The total volume of the cadastral database of residential real estate in Saint Petersburg (individual apartments) is 2 226734 objects with a fairly complete (and well-structured) set of price-forming factors. The authors propose a method for estimating the most likely movement of the market value for a pre-selected real estate object that has passed cadastral registration and has a cadastral value entered in the register and predicting the market value in the future period.Results. The theoretical significance of the work is the proposed algorithm for estimating the most probable trajectory of the market value of the investigated object, based on the conditional multivariate log-normal distribution for a given value of the cadastral value. A well-developed and studied ARIMA time series forecasting model is applied to the logarithms of the obtained time series, the return from logarithmic prices to real prices is carried out taking into account the peculiarities of the logarithmically normal distribution. Results are compared with median scores and estimates, obtained by average values.Conclusion. The paper shows that the introduction of cadastral value in the Russian Federation opens up new opportunities for analyzing and forecasting market prices, since cadastral databases contain the most complete lists of real estate objects, including the cadastral value, which now, in accordance with the law, must be updated at least once every three years and, as of 2015 and 2018, was determined as the market value, therefore, until the next cadastral assessment, can serve as a basis for constant comparison with market data, which are constantly changing, primarily in the composition of objects.

scholarly journals Assessment of changes in the market value of residential real estate in the area of the commissioned transport interchange of the urban toll road

2019 ◽  
Vol 16 (5) ◽  
pp. 57-69
Author(s):  
M. B. Laskin ◽  
A. U. Talavirya
Keyword(s):  
Real Estate ◽  
High Speed ◽  
Market Value ◽  
Residential Real Estate ◽  
Mass Market ◽  
The Real ◽  
The Real Estate ◽  
Toll Road ◽  
The Impact ◽  
The City

The purpose of this research is to assess the impact of the commissioned toll road running through the city’s residential areas on the market value of residential real estate. The article presents a review of non-traditional methods for assessing real estate value, mainly in foreign publications. The Western High-Speed Diameter (WHSD) is the most significant transport and infrastructure project of the current decade for St. Petersburg. The most inaccessible part of the city on Vasilievsky Island was analyzed, as the example of new and secondary real estate value changes, were examined from August 2015 to December 2017, by the time when the new transport interchange of WHSD in the western part of the island was constructed and put into commission.  For the study, the authors used the data of the Real Estate Bulletin of St. Petersburg at the end of 2015 and 2017, the data of the cadastral assessment of residential real estate of St. Petersburg of 01.01.2015 and 01.01.2018. Main research method is the study of two-dimensional and conditional distributions of random values of bid prices and cadastral values, which allows obtaining estimates of the market value of the real estate that has passed cadastral registration, and estimates of growth rates.  The comparison of prices of offers with cadastral values applied in the article, with a simple and natural speculation of logarithmically normal distribution, allows us to propose a method of assessing the market  value for any property, even if the information about it is not available in the market data. The obtained numerical results showed a rise in the cost of a significant part of the mass-market for the study period up to 18% without discount on the auction, and up to 9% taking into account the discount on the auction. It turned out to be slightly higher than the general change in the prices of proposals that can be found in advertising publications. A significant change (from 50% to 73%) was found in business-class properties, located in the area with significantly changed species characteristics and improved transport accessibility, in the immediate vicinity of the exit from WHSD.  The results, indicating the growth of market value, allowed us to make a general conclusion about the changes in the attractiveness of the area for different segments of the population of the city: both for the mobile middle class, focused on the mass-market, and for buyers of the premium segment, having increased requirements for the real estate. The authors believe that the growth of the market value of real estate in the area of transport interchanges of modern infrastructure projects could be higher in other macroeconomic conditions. At present, the effective demand of the population is obviously not sufficient.  

scholarly journals MICROECONOMICS OF ARCHITECTURE: BETWEEN MARKET AND PUBLIC

2020 ◽  
Vol Vol. 36 (No. 2) ◽  
pp. 85-90
Author(s):  
Valentinas Navickas ◽  
Tomas Skripkiunas
Keyword(s):  
Literature Review ◽  
Real Estate ◽  
Public Goods ◽  
Market Value ◽  
Real Estate Market ◽  
The Real ◽  
The Real Estate ◽  
Nonmarket Goods ◽  
The Real Estate Market ◽  
Different Types

The position of architecture between market goods and public goods is addressed in this study. A transition of architectural objects of built environment from market goods towards public or nonmarket goods is presented in literature review. The real estate market value is highly influenced by concepts of externalities and public goods, therefore being highly spatially dependent and making the process of the real estate valuation more complex. The internalization of these externalities and public goods is impossible because of the nature of public space in the city. The concept of value and different types of value, like exchange, use, image, social, environmental, cultural value, are also presented in literature review. These different types of value are transferred to value in exchange when estimating market value. The aim of research is to calculate the amount of the real estate market value that is influenced by externalities, public or nonmarket goods. The process of value transfers between market and public is also discussed in this study. In the research part prices of similar apartments measure the coefficient of variance. Newly constructed apartment buildings with partial finishing interior within city boundaries are selected expecting their price to vary only because of different amount of externalities and public goods available inside district/region of selected building or provided by the actual building itself. The results show that up to 29% of the real estate market value is influenced by public or nonmarket goods. Implications of further research suggest controlling for market segmentation and architectural quality variables

scholarly journals The cadastral value as a tool for monitoring the real estate market value

2021 ◽  
Vol 37 (1) ◽  
pp. 84-108
Author(s):  
Lyudmila Gadasina ◽  
◽  
Mikhail Laskin ◽  
Ekaterina Zaytseva ◽  
◽  
...  
Keyword(s):  
Real Estate ◽  
Market Value ◽  
Real Estate Market ◽  
Theory And Practice ◽  
Two Dimensional ◽  
Market Prices ◽  
Market Data ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market

In the theory and practice of real estate valuation, in analytical studies of the dynamics of real estate markets there is a problem of tracking changes in market prices. The apparent simplicity of this task leads to the fact that in everyday practice both market participants and professional analysts are satisfied with observations of average prices. The advantage of this traditional approach is computational simplicity. However, in the conditions of presence of a large number of special software and extensive statistical material can be used more complex research methods. The purpose of this article is to research big current market data of real estate objects and compare these data with the cadastral value determined in accordance with Russian legislation as the market value at the specified date. In this regard, there are problems associated with the multidimensional distribution of market prices and cadastral values. The article presents the method of calculation of changes of the real estate market prices on the basis of comparison of two-dimensional prices distributions of offers and cadastral prices for two periods. The main problem in studying the dynamics of real estate market prices is the inability to track the change in market prices for each property, as objects are constantly put up for sale and removed from it. The work carried out in the Russian Federation in 2014 to establish the cadastral value of real estate opens opportunity to analyze two-dimensional distributions of current market and cadastral prices and to assess the dynamic characteristics of the market for any real estate objects. The main result of article is the method which allows to apprise the market value of real estate in real time when new market data come by their comparison with the previously established cadastral value. Cadastral value is assumed to be defined as market value at the valuation date.

scholarly journals Assessment of the Real Estate Market Value in the European Market by Artificial Neural Networks Application

Complexity ◽  
2018 ◽  
Vol 2018 ◽  
pp. 1-10 ◽  
Author(s):  
Jasmina Ćetković ◽  
Slobodan Lakić ◽  
Marijana Lazarevska ◽  
Miloš Žarković ◽  
Saša Vujošević ◽  
...  
Keyword(s):  
Real Estate ◽  
Input Data ◽  
Market Value ◽  
Real Estate Market ◽  
The Real ◽  
The Real Estate ◽  
Price Forecast ◽  
The Real Estate Market ◽  
Artificial Neural ◽  
The Impact

Using an artificial neural network, it is possible with the precision of the input data to show the dependence of the property price from variable inputs. It is meant to make a forecast that can be used for different purposes (accounting, sales, etc.), but also for the feasibility of building objects, as the sales price forecast is calculated. The aim of the research was to construct a prognostic model of the real estate market value in the EU countries depending on the impact of macroeconomic indicators. The available input data demonstrates that macroeconomic variables influence determination of real estate prices. The authors sought to obtain correct output data which show prices forecast in the real estate markets of the observed countries.

scholarly journals Real Estate Value Tax Based on the Latvian Experience

2015 ◽  
Vol 22 (4) ◽  
pp. 60-67
Author(s):  
Maria Hełdak ◽  
Agnieszka Stacherzak ◽  
Vivita Baumane
Keyword(s):  
Real Estate ◽  
Market Value ◽  
Estate Tax ◽  
The Real ◽  
The Real Estate ◽  
Town Council ◽  
Real Estate Tax ◽  
The Subject ◽  
And Function ◽  
Real Estates

Abstract The article deals with the subject of the planned real estate changes in Poland as viewed in relation to the solutions accepted in Latvia. The current basis for real estate tax is a set fee per 1m² of the estate’s area established in a town council resolution, taking into account the maximum fees established by the Minister of Finances. Currently, the owners of real estates with identical area often pay the same tax regardless of the location, condition and function of the real estate formulated in the plan. The cadastral tax currently in preparation addresses these and other features which influence the value of real estate. A set cadastral value approximate to the market value will serve as the basis for determining the cadastral tax. The principles of real estate tax retrieval in Poland are not clearly established which is why it might prove useful to use the experience of other countries undergoing similar governmental changes. The article makes references to tax solutions recognized in Latvia in the domain of tax fees, valuation principles and problems accompanying real estate tax retrieval.

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