Modern classification system of real estate markets
In this study, rating is proposed as a modern tool providing objective comparability criteria to classify the residential market within the urban space. The main aim of this study was the development of the rating score procedure for residential market as a specific knowledge platform to help in the...
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| Format: | Article |
| Language: | English |
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Association of Surveyors of Slovenia (Zveza geodetov Slovenije)
2017-09-01
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| Series: | Geodetski Vestnik |
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| Online Access: | http://www.geodetski-vestnik.com/61/3/gv61-3_renigier.pdf |
| Summary: | In this study, rating is proposed as a modern tool providing objective comparability criteria to classify the residential market within the urban space. The main aim of this study was the development of the rating score procedure for residential market as a specific knowledge platform to help in the making of reliable decisions. The classification was conducted for demand and supply separately with the use of categories of information relating to residential, economic and political, social, spatial and location factors that can have the most important influence on market decision-making. The crucial stage in this methodology was establishing the benchmark point (BB) to calculate the rating score that was determined on the assumptions of the highest value of the similarity in relation to other objects with the use of a rough set theory. This point might represent the level of similarities (indiscernalities, as in rough set theory) of the features in the set. The results demonstrate that there is a link between the condition of urban space and the residential market but in the case of the expectation of further area development and quality of life rather than the economic prosperity of a region. |
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| ISSN: | 0351-0271 1581-1328 |