A geographically weighted regression approach in regional model for real estate mass valuation
Date Issued
2022
Author(s)
Sanja Atanasova
Gjorgji Gjorgjiev
Igor Peshevski
Daniel Velinov
Abstract
Real estate mass valuation models of a market value have a tendency to generate real estate property values as close as to the real market values. Property valuation theory, as one of the primary factors influencing property value, considers location. The main statistical tool used for modelling in this investigation is geographically weighted regression. More precisely, the paper is striving to establish a mass valuation real estate property model considering the implementation of spatial data as a significant factor in determining the market value of condominiums in Skopje.