Development of the theory and methodology for calculating price change indices in real estate valuation
Gareev I.F.1, Akhmetgaliev T.A.1
1 Казанский государственный архитектурно-строительный университет
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Journal paper
Russian Journal of Housing Research (РИНЦ, ВАК)
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Volume 11, Number 2 (April-June 2024)
Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=65641106
Abstract:
Real estate price change indices are one of the indicators in determining the market value of real estate objects of various functions. The techniques of determining real estate price indices presented in the article can be applied by professional real estate appraisers and experts in the field when analyzing data and changes in various market segments. The techniques of determining the real price indices are presented.
These techniques can be used to determine the market value for various purposes and with limited sampling and information database. When applying various techniques of determining the real price indices, it is possible to use retrospective data on prices and rates of offers and transactions of real estate objects, adjusted to the required valuation date, which is a solution to the problems of searching for information in inactive and depressed real estate markets when determining the market value. The combination of several techniques increases the reliability of the results and shows the most appropriate change in prices and rental rates in various segments of real estate. These techniques can be used in a retrospective approach of correlation and regression dependence of objects of various functions when using a data set, which will allow a comprehensive approach to each analyzed market segment.
Keywords: real estate price indices, real estate price indices calculation, price indices, real estate classification, real estate indices
JEL-classification: C53, L85, L86
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