<abstract xmlns="http://www.w3.org/1999/xhtml"><p> The real estate market is a specific and imperfect field of research, and its complex structure and the presence of information gaps necessitate the use of advanced analytical tools. One such tool is simulation modeling, which has a variety of practical applications and can be used to model real-life systems characterized by a high degree of complexity and a high share of random components. In this paper, virtual data was used to simulate transactions on the local real estate market. Simulation tools were applied to generate additional information about transactions, their spatial distribution and transaction prices. The applicability of the iterative Monte Carlo approach with a standard regression model and a spatial regression model was evaluated.</p></abstract>

The real estate market is a specific and imperfect field of research, and its complex structure and the presence of information gaps necessitate the use of advanced analytical tools. One such tool is simulation modeling, which has a variety of practical applications and can be used to model real-life systems characterized by a high degree of complexity and a high share of random components. In this paper, virtual data was used to simulate transactions on the local real estate market. Simulation tools were applied to generate additional information about transactions, their spatial distribution and transaction prices. The applicability of the iterative Monte Carlo approach with a standard regression model and a spatial regression model was evaluated.

Simulation Modeling Concept Of Property Market Transactions

Faculty of Geodesy and Land Management University of Warmia and Mazury in Olsztyn

of Geodesy and Land Management University of Warmia and Mazury in Olsztyn

Real Estate Management and Valuation

This article is distributed under the terms of the Creative Commons Attribution Non-Commercial License, which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.

{"article-title":"Simulation Modeling Concept Of Property Market Transactions"}

The real estate market is a specific and imperfect field of research, and its complex structure and the presence of information gaps necessitate the use of...

Simulation Modeling Concept Of Property Market Transactions

Publicado en línea: 12 abr 2014

Páginas: 91 - 99

DOI: https://doi.org/10.2478/remav-2014-0011

Palabras clave
property market, simulation modeling, spatial regression

© 2014

This article is distributed under the terms of the Creative Commons Attribution Non-Commercial License, which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.

Simulation Modeling Concept Of Property Market Transactions

Publicado en línea: 12 abr 2014

Páginas: 91 - 99

DOI: https://doi.org/10.2478/remav-2014-0011

Palabras claveproperty market, simulation modeling, spatial regression

© 2014

This article is distributed under the terms of the Creative Commons Attribution Non-Commercial License, which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.

Palabras clave
property market, simulation modeling, spatial regression