© Anna Gdakowicz, Ewa Putek-Szeląg. Artykuł udostępniony na licencji CC BY-SA 4.0
The mass valuation of real estate refers to the simultaneous estimation of the values of a large number of properties using the same method. This method should involve automation that would reduce the human element in the process. The algorithm that meets these requirements is the Szczecin Mass Valuation Algorithm for Real Estate (SAMWN), which was used to determine the values of selected land properties in Szczecin. The article presents a modification of the SAMWN which consists in an objective calculation of the influence of the attributes of a property on its value using dependency coefficients. Various approaches have been proposed to assigning weights to the attributes included in the model. The aim of the study was twofold. Firstly, to identify the coefficients of dependencies that can be used in property valuation based on SAMWN and in the analysis of a property using attributes measured on an ordinal scale. The second aim was to select such a combination of methods for taking into account the influence and weights of attributes which under the SAMWN procedure would produce results closest to property values determined by real estate appraisers.
The study used data on 405 land properties located in Szczecin intended for residential purposes, valued individually by real estate appraisers for the purpose of the research. The study proposes four types of dependency coefficients and their partial values and four ways of including these coefficients in the SAMWN procedure. Additionally, the study assesses six methods of weighing the proposed measures. As a result, 168 ways of measuring the influence of individual attributes on property value were obtained. In order to determine which variants produced values closest to the real values (estimated by real estate appraisers), appraisal error measures were calculated and linear ranking procedures were then adopted to identify the best combination of the applied variants. .
The presented mass valuation algorithm may be applied to the estimation of values of various types of properties. However, it requires the procedure to be adapted to the specific characteristics of the appraised property, i.e. the attractiveness zones should be determined as well as the attributes that are relevant to the specific type of property.
mass real estate valuation, statistical methods, mass valuation algorithm, dependency coefficients, linear ordering
C10, R30
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