A model relating to the spatial formation of property values in the Metropolitan Region of Barcelona
||Almirall, Pilar Garcža
||A model relating to the spatial formation of property values in the Metropolitan Region of Barcelona
||11th European Real Estate Society Conference (2-5 June 2004) Milano, Italy
||This communication contemplates the technological incorporation of processes similar to assisted appraisal as an improvement of the technical procedure of urban valuation related to the residential market, applicable to valuers, property managers and financial institutions. The current technical studies of urban valuation, in the business area, have the difficulty of delimiting the differentiation of property values applicable to each urban area, adjusted to the specific characteristics of the buildings and their surroundings. This question is usually tackled according to general criteria of proportionality to the market analysed in large spatial areas (municipalities, neighbourhoods, etc.). A technical procedure is undertaken based upon objective criteria that allows for the establishment of a methodology and a practical system for the incorporation of social and economic factors, of urban, environmental or accessibility characteristics, that affect the process of the delimitation of spatial organisation of values in a specific territorial or urban area. It seeks to overcome the technical limitations, through the support of GIS tools in the elaboration and creation of detailed information in order to evaluate the geographical or spatial factors that in a precise way are capable of explaining the differences that are produced on the urban structure, and to verify its contribution to the differential formation of the urban values, and to deduce as result of the whole procedure a precise calculation of the differentiation of values. Indicative measures of the implicit value of certain variables are established here following the use of territorial and urban information databases. Systems that provide the calculation of indicators of the spatial components referred to and referenced at a municipal or postal district level, related to the spatial extent of the Metropolitan Region of Barcelona and of the whole of Catalonia, upon which sufficient valuation information is available, having been proportioned by the valuation firm CATSA. In summary this reflects a new experience in the use of multiple regression analysis techniques, as a proven methodology in the systems of massive valuation and appraisal, in order to elaborate a model (an algorithm) capable of considering the different values of housing, adjusted to market conditions, that are produced in a geographical context, taking as a reference a synthesis of the most significant spatial variables of the general functioning of the market.
Post discussion ...
||House Price Analysis (A)
These pages are best viewed with any standards compliant browser (e.g. Mozilla).