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2005-10-10Buch DOI: 10.18452/3501
Real Estate Valuation According to Standardized Methods
dc.contributor.authorSchulz, Rainer
dc.date.accessioned2017-06-15T21:11:55Z
dc.date.available2017-06-15T21:11:55Z
dc.date.created2005-10-10
dc.date.issued2005-10-10
dc.identifier.issn1436-1086
dc.identifier.urihttp://edoc.hu-berlin.de/18452/4153
dc.description.abstractAppraisals are needed for decision-making and for performance evaluation. Knowledge on the accuracy of valuation methods is of general interest for banks and investors. We assess the accuracy of the German Regulation on Valuation with monthly data on appraisals and prices for commercial apartment houses in Berlin, Germany from 1980 to 2000. The appraisals are compared with outcomes of the simpler capitalization method and are ranked better according to several prediction error measures. Nonparametric density estimates give the error distributions and investors can decide which method is preferable. Eventually, we explain short-run deviations between prices and appraisals by incompletely appraised object-specific factors and by market indicators.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.subjectAppraisal Accuracyeng
dc.subjectDiscounted Valueeng
dc.subjectHouse Priceseng
dc.subjectState Space Modeleng
dc.subject.ddc330 Wirtschaft
dc.titleReal Estate Valuation According to Standardized Methods
dc.typebook
dc.subtitleAn Empirical Analysis
dc.identifier.urnurn:nbn:de:kobv:11-10049135
dc.identifier.doihttp://dx.doi.org/10.18452/3501
local.edoc.container-titleSonderforschungsbereich 373: Quantification and Simulation of Economic Processes
local.edoc.pages54
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2002
local.edoc.container-issue55
local.edoc.container-year2002
local.edoc.container-erstkatid2135319-0

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