Dissimilarity as a Component of the Property Price Model

Abstract

In the course of discussion on an econometric model of property value and its place in property appraisal, the argument of the main goal of the process (property market value prediction itself) was raised in this article. The need for the consideration of an ontologically perceived, particular element of the real estate market with its distinctive characteristics indicates the specific nature of the interpretation of the data which may be used in the appraisal process.

Keywords

• dissimilarity
• property price model
• comparables selection
• property valuation
• r15
• c18
• c38
• c51