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Publikācija: Appraisal of the Residential Real Estate in Latvia: The Case of Riga and Daugavpils

Publication Type Publications in RTU scientific journal
Funding for basic activity Unknown
Defending: ,
Publication language English (en)
Title in original language Appraisal of the Residential Real Estate in Latvia: The Case of Riga and Daugavpils
Field of research 5. Social sciences
Sub-field of research 5.2 Economics and Business
Authors Oksana Ruzha
Tatjana Tambovceva
Iluta Arbidane
Keywords Econometric models, solution trees, two-phase cluster.
Abstract The real estate sector plays an important role for the real economy. Econometric modeling is successfully applied to mass appraisal of real estate, which is one of the most classical economic tasks. The paper shows the results of the use of three models for the appraisal of the commercial value of residential real estate in Latvia. The authors have chosen two biggest cities in Latvia, i.e., the capital of Latvia – Riga and the regional center – Daugavpils. The statistical analysis of the sales data for 2011-2012 has allowed distinguishing pricing factors of the residential real estate both at the regional level and at the level of a building and object of real estate. Modeling was conducted with the use of correlation and regression and cluster analyses. The additive and multiplicative models based on the regression equation and the model of the cluster analysis based on the method of parallel sectioning have been presented.
DOI: 10.7250/bjreecm.2014.003
Reference Ruzha, O., Tambovceva, T., Arbidane, I. Appraisal of the Residential Real Estate in Latvia: The Case of Riga and Daugavpils. Baltic Journal of Real Estate Economics and Construction Management. Vol.2, 2014, pp.16-22. ISSN 2255-9604. e-ISSN 2255-6971. Available from: doi:10.7250/bjreecm.2014.003
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ID 20013