Methodology for mapping the average transaction prices of residential premises using GIS

Abstract Geographic information systems (GIS) and their tools support the process of real estate trading. Of key importance is the ability to visualise information about real estate in the form of maps of average real estate transaction prices. The following study presents a methodology for mapping average real estate transaction prices using GIS. The map development process comprised three main stages. In the first stage, the input data was processed and statistically analysed. Official data came from the Register of Real Estate Prices and Values, and open data from the National Register of Boundaries. The second stage involved the visualization of the data in the form of maps of average apartment prices using the cartographic methods of choropleth maps and diagrams. The commercial tool ArcMap 10.3 and the free Quantum GIS software were used in the design of the maps of average real estate transaction prices, to check the options for using these types of programs. As a result, eight maps were designed presenting the average transaction prices for residential properties in the Warsaw district of Ursynów in 2015. The final stage was the analysis of the designed maps. The influence of the selection of the reference units on the visualization content, and the impact of combining cartographic presentation methods on the complexity of the presentation of real estate information, were also analysed.

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The Impact of holding Periods on the Measurement of Real Estate Prices

10.15396/eres1996_111 ◽

1996 ◽

Keyword(s):

Real Estate ◽

Real Estate Prices ◽

The Impact

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Evaluation of the Applicability of Statistical Methods in Studies on Price Dynamics on the Real Estate Market

Real Estate Management and Valuation ◽

10.2478/remav-2013-0007 ◽

2013 ◽

Vol 21 (1) ◽

pp. 49-58 ◽

Cited By ~ 2

Author(s):

Sebastian Kokot ◽

Marcin Bas

Keyword(s):

Real Estate ◽

Traditional Approach ◽

Real Estate Market ◽

Price Dynamics ◽

The Real ◽

The Real Estate ◽

Transaction Prices ◽

Time Period ◽

The Real Estate Market ◽

Real Estate Prices

Abstract The specific character of the real estate market is the reason why observations of transaction prices seen as statistical variables are taken in a non-standard way. In the traditional approach each time period or specific moments of time are attributed with one observation of a studied variable per one object. In the case of the real estate market, this is not possible since transactions relate to different objects, i.e., properties, and occur at irregular, or even random, moments. This is why traditional methods used to examine the dynamics of economic phenomena must be adapted to specific conditions on the real estate market. Keeping that in mind, the aim of this paper is to adapt classical statistical examination methods of dynamics to specific conditions of the real estate market followed by the actual examination of the dynamics of real estate prices in three sub-segments of the housing market in Szczecin. On its basis, the authors evaluate various methods of examining real estate price dynamics in terms of their applicability in real estate appraisal procedures and, in a broader perspective, present characteristic phenomena that can be observed on the real estate market.

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Use of Statistical Models for Simulating Transactions on the Real Estate Market

Real Estate Management and Valuation ◽

10.1515/remav-2015-0019 ◽

2015 ◽

Vol 23 (2) ◽

pp. 102-111 ◽

Cited By ~ 2

Author(s):

Radosław Cellmer ◽

Katarzyna Szczepankowska

Keyword(s):

Probability Distribution ◽

Real Estate ◽

Statistical Models ◽

Real Estate Market ◽

Model Parameters ◽

The Real ◽

The Real Estate ◽

Transaction Prices ◽

The Real Estate Market ◽

Real Estate Prices

Abstract The regularities and relations between real estate prices and the factors that shape them may be presented in the form of statistical models, thanks to which the diagnosis and prediction of prices is possible. A formal description of empirical observation presented in the form of regressive models also offers a possibility for creating certain phenomena in a virtual dimension. Market phenomena cannot be fully described with the use of determinist models, which clarify only a part of price variation. The predicted price is, in this situation, a special case of implementing a random function. Assuming that other implementations are also possible, regressive models may constitute a basis for simulation, which results in the procurement of a future image of the market. Simulation may refer both to real estate prices and transaction prices. The basis for price simulation may be familiarity with the structure of the analyzed market data. Assuming that this structure has a static character, simulation of real estate prices is performed on the basis of familiarity with the probability distribution and a generator of random numbers. The basis for price simulation is familiarity with model parameters and probability distribution of the random factor. The study presents the core and theoretical description of a transaction simulation on the real estate market, as well as the results of an experiment regarding transaction prices of office real estate located within the area of the city of Olsztyn. The result of the study is a collection of virtual real properties with known features and simulated prices, constituting a reflection of market processes which may take place in the near future. Comparison between the simulated characteristic and actual transactions in turn allows the correctness of the description of reality by the model to be verified.

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Foreign investment in Australian residential properties

International Journal of Housing Markets and Analysis ◽

10.1108/ijhma-05-2018-0030 ◽

2019 ◽

Vol 12 (2) ◽

pp. 166-180 ◽

Cited By ~ 1

Author(s):

Hassan F. Gholipour ◽

Hooi Hooi Lean ◽

Reza Tajaddini ◽

Anh Khoi Pham

Keyword(s):

Real Estate ◽

Foreign Investment ◽

House Prices ◽

Real Estate Market ◽

Housing Development ◽

Housing Construction ◽

Annual Data ◽

Content Type ◽

Residential Properties ◽

The Impact

Purpose The purpose of this study is to examine the impact that foreign investment in existing houses and new housing development has on residential house prices and the growth of the housing construction sector. Design/methodology/approach The analysis is based on a panel cointegration method, estimated using annual data for all Australian states and territories spanning the period of 1990-2013. Findings The results indicate that increases in foreign investment in existing houses do not significantly lead to increases in house prices. On the other hand, a 10 per cent increase in foreign investment for housing development decreases house prices by 1.95 per cent. We also find that foreign real estate investments have a positive impact on housing construction activities in the long run. Originality/value Existing studies used aggregate foreign real estate investment in their analyses. As foreign investment in existing houses and foreign investment for housing development have different impacts on the demand and supply sides of housing market, it is crucial that the analysis of the effects of foreign investment in residential properties on real estate market is conducted for each type differently.

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Mechanism Analysis of the Impact on Chinese Urban Rail Transit Construction on the Surrounding Real Estate Prices

Applied Mechanics and Materials ◽

10.4028/www.scientific.net/amm.178-181.1866 ◽

2012 ◽

Vol 178-181 ◽

pp. 1866-1869

Author(s):

Jian Liang Lv ◽

Ying Jiang

Keyword(s):

Real Estate ◽

Land Development ◽

Value Added ◽

Urban Rail Transit ◽

Rail Transit ◽

Mechanism Analysis ◽

The Real Estate ◽

Urban Rail ◽

Real Estate Prices ◽

The Impact

This paper first studies the real estate prices and and its effecting factors, and point out the construction of urban rail transit effects large on its surrounding real estate prices. Then, the paper clarifies the theoretical basis of its effects, and finally analyzes mechanism that construction of rail transit can make its surrounding real estate value-added. The urban rail transit construction can improve surrounding property accessibility, the residents travel convenient, increasing the intense of land development, changing nature of land use, adjusting industrial layout, accelerating expanded urbanized areas, raising employment opportunities, promoting socio-economic prosperity and development. It provides reference for the reasonable allocation of late-stage value-added benefits, and people can get a comprehensive and systematic understanding of the impact of urban rail transit construction and its surrounding real estate prices.

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