Resource title

The accuracy of long-term real estate valuations

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Resource description

By using a unique data set of single-family house transactions, we examine the accuracy of the cost and sales comparison approach over different forecast horizons. We find that sales comparison values provide better long-term forecasts than cost values if the economic loss function is symmetric. A weighted average of both sales comparison value and cost value can reduce this loss even further. If the economic loss function is asymmetric, however, cost values might provide better long-term forecasts.

Resource author

Rainer Schulz, Markus Staiber, Martin Wersing, Axel Werwatz

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/25261

Resource license

Adapt according to the presented license agreement and reference the original author.