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International Conference on Computational Science and Its Applications

ICCSA 2017: Computational Science and Its Applications – ICCSA 2017 pp 200–209Cite as

Automated Valuation Methods in Atypical Real Estate Markets Using the Mono-parametric Approach

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Part of the book series: Lecture Notes in Computer Science ((LNTCS,volume 10406))

Abstract

The appraisal objectivity depends on the possibility to quickly and easily access to reliable real estate data in order to apply appropriate appraisal approaches. In order to ensure the objectivity of the real estate appraisals, in recent years Automated Valuation Methods (AVM) have been developed, integrating computerized real estate databases and programming languages. The Automated Valuation Methods proposed at international level usually recur to regression models, aimed to return appraisal equations based on reliable real estate databases. This approach is not applicable in some markets where lack of data does not allow the implementation of regression models. This paper proposes to implement a valuation automatic method in order to appraise properties located in atypical markets, structuring a procedural algorithm based on the mono-parametric approach and able to return punctual values related to the subject’s specifics and to the market peculiarities in a very limited area. The paper proposes also the application of similarity degree coefficients in order to take into account the differences between the amounts of the real estate features, leading to the possibility to use the mono-parametric approach also when lack of data would not recommend it.

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Author information

Authors and Affiliations

  1. Department of Civil, Environmental, Aerospace and Materials Engineering, University of Palermo, Viale delle Scienze, Ed. 8, 90128, Palermo, Italy

    Marina Ciuna & Marco Simonotti

  2. Department of Environmental and Chemical Engineering, University of Calabria, Via Pietro Bucci Cubo 46b, 87036, Rende, Italy

    Manuela De Ruggiero & Francesca Salvo

  3. School of Engineering, University of Basilicata, Viale dell’Ateneo Lucano, 85100, Potenza, Italy

    Benedetto Manganelli

Authors
  1. Marina Ciuna
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  2. Manuela De Ruggiero
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  3. Benedetto Manganelli
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  4. Francesca Salvo
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  5. Marco Simonotti
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Corresponding author

Correspondence to Francesca Salvo .

Editor information

Editors and Affiliations

  1. University of Perugia, Perugia, Italy

    Osvaldo Gervasi

  2. University of Basilicata, Potenza, Italy

    Beniamino Murgante

  3. Covenant University, Ota, Nigeria

    Sanjay Misra

  4. University of Trieste, Trieste, Italy

    Giuseppe Borruso

  5. Polytechnic University of Bari, Bari, Italy

    Carmelo M. Torre

  6. University of Minho, Braga, Portugal

    Ana Maria A.C. Rocha

  7. Monash University, Clayton, Victoria, Australia

    David Taniar

  8. Kyushu Sangyo University, Fukuoka, Japan

    Bernady O. Apduhan

  9. Saint Petersburg State University, Saint Petersburg, Russia

    Elena Stankova

  10. University of Trieste, Trieste, Italy

    Alfredo Cuzzocrea

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Ciuna, M., De Ruggiero, M., Manganelli, B., Salvo, F., Simonotti, M. (2017). Automated Valuation Methods in Atypical Real Estate Markets Using the Mono-parametric Approach. In: Gervasi, O., et al. Computational Science and Its Applications – ICCSA 2017. ICCSA 2017. Lecture Notes in Computer Science(), vol 10406. Springer, Cham. https://doi.org/10.1007/978-3-319-62398-6_14

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  • DOI: https://doi.org/10.1007/978-3-319-62398-6_14

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-62397-9

  • Online ISBN: 978-3-319-62398-6

  • eBook Packages: Computer ScienceComputer Science (R0)

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