Ordinary kriging and inverse distance weighting as methods of estimating prices based on warsaw real estate market Cover Image

Ordinary kriging i inverse distance weighting jako metody szacowania cen nieruchomości na przykładzie warszawskiego rynku
Ordinary kriging and inverse distance weighting as methods of estimating prices based on warsaw real estate market

Author(s): Mariola Chrzanowska
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: kriging; inverse distance weighting; real estate; geostatistics

Summary/Abstract: The location is one of the factors that strongly determine the price. Numerous studies in literature [Basu, Thibodeau 1999; Anselin, Le Gallo 2006] indicate positive spatial autocorrelation grouping of estates on the market (next to each other there are properties of similar value pricing). Therefore it seems reasonable to take location into account when modeling the price. The paper presents proposals for spatial modeling in real estate prices in Warsaw. The interpolation of prices contained in the trial allowed to show the distribution of real estate prices in Warsaw on the map. The study used two geostatistical methods (kriging and inverse distance weighting).

  • Issue Year: 2013
  • Issue No: 279
  • Page Range: 264-271
  • Page Count: 8
  • Language: Polish