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Price formation and real estate characteristics : residential Real Estate, Lisbon – Portugal

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dc.contributor.authorVaz, António Jorge Ferreira
dc.contributor.authorGarcia Erviti, Federico
dc.contributor.authorPadial Molina, Francisco
dc.date.accessioned2014-01-03T10:30:01Z
dc.date.available2014-01-03T10:30:01Z
dc.date.issued2012
dc.description.abstractThe discretionality and the appraisers’ subjectivity that characterize traditional real estate valuation are still allowed to take part in the formation of the asset price even when respecting international standards (EVS, IVS) or Appraisal Institution´s regulations (TEGOVA, RICS, etc.). The application of Econometric Methods to real estate valuation by the use of statistic procedures aims at the elimination of subjectivity on the appraisal process. On this study, Hedonic Models (Econometric Methods applied to Real Estate Appraisal) are used to determine the most important characteristics that define the multifamily residential real estate selling price and therefore to make estimations on real estate selling price (knowing the asset characteristics). Two different Statistical Techniques were used in order to compare the results: Multiple Lineal Regression; and Factorial Analysis. These techniques were applied to a sample of 82 flats for sale located in Lisbon, Portugal. From the 15 studied characteristics, we conclude that the ones the ones that determine/influence the most the asset price are: Area (m2); Nr. of Bathrooms; Privileged View; Nr. of Parking places. Using these 4 variables the asset’s price estimation model obtained explains 80, 9% of the Real Estate selling Price.por
dc.identifier.citationVaz, António Jorge Ferreira, Erviti, Federico Garcia; Molina, Francisco Padial (2012). Price formation and real estate characteristics : residential Real Estate, Lisbon – Portugal. In XXXVIII IAHS World Congress Visions for the Future of Housing MEGA CITIES. ISTANBUL TECHNICAL UNIVERSITY- TURKEY. ISBN 978-975-561-417-5por
dc.identifier.isbn978-975-561-417-5
dc.identifier.urihttp://hdl.handle.net/10198/9061
dc.language.isoengpor
dc.peerreviewedyespor
dc.subjectReal estate valuationpor
dc.subjectHedonic statistical modelspor
dc.subjectAppraisalpor
dc.subjectReal value formationpor
dc.subjectResidencial real estatepor
dc.titlePrice formation and real estate characteristics : residential Real Estate, Lisbon – Portugalpor
dc.typeconference object
dspace.entity.typePublication
oaire.citation.conferencePlaceIstanbul Technical University - Turkeypor
oaire.citation.endPage263por
oaire.citation.startPage263por
oaire.citation.titleXXXVIII IAHS World Congress Visions for the Future of Housing MEGA CITIES APRIL 2012 - ISTANBUL TECHNICAL UNIVERSITYpor
person.familyNameVaz
person.givenNameAntónio Jorge Ferreira
person.identifier.ciencia-id401A-7B51-9199
person.identifier.orcid0000-0001-9421-5894
rcaap.rightsopenAccesspor
rcaap.typeconferenceObjectpor
relation.isAuthorOfPublication16956931-515f-499c-a248-96722a06d70e
relation.isAuthorOfPublication.latestForDiscovery16956931-515f-499c-a248-96722a06d70e

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