The econometric valuation as a forecast of price in the real estate market (
Journal Title: Zarządzanie i Finanse - Year 2013, Vol 11, Issue 1
Abstract
The main purpose of this article is to present the utility of quantitative methods to valuating. Especially the author had focused on an econometrical modeling for a particular district of Warsaw. The research had been based on a statistical data from the beginning of January 2006 to the beginning of January 2008. The pre-selection of exogenous variables had been made using a correlation matrix. The next step was making a regression between a price of a flat in district “Bielany” and a group of exogenous variables. Then the author had commented statistical and essential features of the econometrical model for valuating in the real estate market. The article also presents how to use the model in practical problems with valuation. Also it had been mentioned how important is the knowledge and experience of experts. Moreover the process of valuation made by an expert is always connected with probability, so it is similar to statistical estimating or sometimes even to forecasting. It is also mentioned about problems during a valuation process and about other circumstances of econometrical models application.
Authors and Affiliations
Rafał Zbyrowski
Keywords
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