Application of collocation as enhanced comparison value approach in the real estate valuation [Anwendung der kollokation als erweitertes vergleichs-wertverfahren in der immobilienwertermittlung]

摘要

The use of the sales comparison approach for real estate valuation purposes is from a mathematical-statistical point of view based on the multiple linear regression analysis and is used primarily in the form of indirect price comparison. For decades, the regression analysis has become a standard method for determining the market value. Nevertheless, since its introduction the method has not been enhanced significantly The aim of this contribution is to enhance the use of regression analysis as a sales comparison approach by introducing a collocation approach. Starting from a simple trend model the collocation approach allows to exhaust additional information, which cannot be modeled within the regression approach. In this way, it can be assumed, that the results of the regression analysis are improved and the extended approach is able to give a higher explanation to the real purchase prices.