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Paper eres2001_238:
New Statistical Technologies applied to the estimation of the free Housing Prices: Kriging

id eres2001_238
authors Montero Lorenzo, José Maria ; García Rubio, Noelia
year 2001
title New Statistical Technologies applied to the estimation of the free Housing Prices: Kriging
source 8th European Real Estate Society Conference (26-29 June 2001) Alicante, Spain
summary The aim of this research is the use of the methodology called Kriging to estimate the free housing prices in a given geographical environment. This methodology allows the design of digitized maps of geographical areas like towns, provincial capitals, ... in such a way that if you pick in a certain house location and set the most relevant information concerning the house (age, surface, quality, ...), the system supplies its price on line. Therefore, the authors propose an automated system to fix prices which would result in a great economic saving for the real estate agencies and a fiscal optimization from the point of view of the appropriate economic authorities in the matter of housing price. This system can be generalized to be used in relation to another real estate assets such as offices or lots,... Furthermore, it allows the cokriged estimation of all of them at the same time.
keywords The aim of this research is the use of the methodology called Kriging to estimate the free housing prices in a given geographical environment. This methodology allows the design of digitized maps of geographical areas like towns, provincial capitals, ... in such a way that if you pick in a certain house location and set the most relevant information concerning the house (age, surface, quality, ...), the system supplies its price on line. Therefore, the authors propose an automated system to fix prices which would result in a great economic saving for the real estate agencies and a fiscal optimization from the point of view of the appropriate economic authorities in the matter of housing price. This system can be generalized to be used in relation to another real estate assets such as offices or lots,... Furthermore, it allows the cokriged estimation of all of them at the same time.
series ERES:conference
content file.pdf (108,474 bytes)
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