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Mass valuation of urban land in Ukraine: from normative to a market-based approach
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management.
2006 (English)Doctoral thesis, comprehensive summary (Other scientific)
Place, publisher, year, edition, pages
Stockholm: KTH , 2006. , 21 p.
Series
Meddelande: Institutionen för infrastruktur, Fastighetsteknik, ISSN 0348-9469 ; 4:97
Keyword [en]
land assessment, location attribute, expert valuation, regression, apartment prices, GIS
National Category
Other Civil Engineering
Identifiers
URN: urn:nbn:se:kth:diva-4235ISBN: 978-91-7178-547-3 (print)OAI: oai:DiVA.org:kth-4235DiVA: diva2:11395
Public defence
2006-12-18, F4136 Sem, KTH, Lindstedtsvägen 26, Stockholm, 15:10
Opponent
Supervisors
Note
QC 20100906Available from: 2006-12-15 Created: 2006-12-15 Last updated: 2010-09-06Bibliographically approved
List of papers
1. Urban land zoning for taxation purposes in Ukraine: possible methods under an immature land market
Open this publication in new window or tab >>Urban land zoning for taxation purposes in Ukraine: possible methods under an immature land market
2004 (English)In: Property Managemen, ISSN 0263-7472, Vol. 22, no 3, 214-229 p.Article in journal (Refereed) Published
Abstract [en]

This paper is devoted to urban land zoning for taxation purposes in advance of the establishment of a land market. It typifies most urban areas in Ukraine, a country in transition to a market economy. The assessed values in Ukraine do not reflect market values, as the land market is immature. The disadvantages of the current assessment system are described. The reasons why the usual Western valuation methods cannot be applied are also discussed. A proposal is presented here for a new approach to the analysis of land values and real estate markets. For this purpose, three groups of methods are described and evaluated. In the proposed structure of assessment zoning, several possible approaches to zones formation are foreseen. While the paper proposes methods that could be used, these are not backed up with empirical data. The implementation of the proposed approach is the subject for future research.

Keyword
Land, Markets, Value analysis, Assessment, Ukraine
National Category
Other Civil Engineering
Identifiers
urn:nbn:se:kth:diva-6631 (URN)10.1108/02637470410545002 (DOI)
Note
QC 20100906Available from: 2006-12-15 Created: 2006-12-15 Last updated: 2010-09-06Bibliographically approved
2. What location attributes are the most important for market value?: extraction of attributes from regression models
Open this publication in new window or tab >>What location attributes are the most important for market value?: extraction of attributes from regression models
2007 (English)In: Property Management, ISSN 0263-7472, E-ISSN 1758-731X, ISSN 0263-7472, Vol. 25, no 3, 257-286 p.Article in journal (Refereed) Published
Abstract [en]

Purpose - The purpose of this paper is to extract the location attributes, which are the most important for market value of real estate in countries with well-developed markets. Design/methodology/approach - In this paper meta-analysis is applied for extraction of location attributes and the weights of their importance. The outcomes of existing regression models created in different countries mainly with a developed real estate market are used. A total of 81 models described in 39 sources are analysed. Findings - The paper finds that the lists of statistically significant location attributes, which influence market value, are obtained for different real estate types. The weights of attributes' relative influence are compared, where possible. Research limitations/implications - In the paper meta-analysis is also applied for a limited number of empirical studies. However, for land and residential real estate the number of sources is sufficient to make a substantiated conclusion. The application of the outlined location attributes is a subject for future research. Practical implications - The paper shows that the lists of important location attributes can be used for practical specification of the valuation models for urban land and other real estate in countries where the market is underdeveloped, to increase the degree of objectivity and market orientation. Originality/value - The paper is one of the few studies which synthesize the findings of existing regression models with respect to location attributes generally. The method of weights' estimation is original. The result of the paper has practical value for real estate valuation in countries with an underdeveloped market.

Keyword
Assessment, Land, Regression analysis
National Category
Other Civil Engineering
Identifiers
urn:nbn:se:kth:diva-6632 (URN)10.1108/02637470710753639 (DOI)2-s2.0-34250741331 (Scopus ID)
Note

QC 201009906

Available from: 2006-12-15 Created: 2006-12-15 Last updated: 2017-12-14Bibliographically approved
3. Estimating the weights of location attributes with the analytic hierarchy process in Donetsk, Ukraine
Open this publication in new window or tab >>Estimating the weights of location attributes with the analytic hierarchy process in Donetsk, Ukraine
2005 (English)In: Nordic Journal of Surveying and Real Estate Research, ISSN 1459-5877, E-ISSN 2341-6599, Vol. 2, no 2, 8-30 p.Article in journal (Refereed) Published
Abstract [en]

To specify a model for urban land assessment in Donetsk (Ukraine), when there is lack of market data, an expert opinion approach is used. The Analytic Hierarchy Process (AHP) and direct questionnaire are applied to estimate the weights of the most important location attributes influencing apartment prices. The weights of attributes obtained with these two methods are compared. The problematic aspects of scale, agency effect and nonlinearity are highlighted. The possibility of using the results in land assessment is discussed.

Keyword
Urban Land Assessment, The AHP, Apartment prices, Location attributes, Donetsk
National Category
Other Civil Engineering
Identifiers
urn:nbn:se:kth:diva-6633 (URN)
Note
QC 20100906Available from: 2006-12-15 Created: 2006-12-15 Last updated: 2017-12-14Bibliographically approved
4. Analysing location attributes with a hedonic model for apartment prices in Donetsk, Ukraine
Open this publication in new window or tab >>Analysing location attributes with a hedonic model for apartment prices in Donetsk, Ukraine
2007 (English)In: International Journal of Strategic Property Management, ISSN 1648-715X, E-ISSN 1648-9179, Vol. 11, no 3, 157-178 p.Article in journal (Refereed) Published
Abstract [en]

A hedonic model is specified for asking prices for apartments in Donetsk (Ukraine). This model is used to determine statistically significant location attributes. These attributes can be used for land assessment in a city where data on the land market are lacking. Distance gradients for CBD accessibility are investigated in different geographical directions. Separate models are created for sub-samples located inside and outside the city centre. A spatial weight matrix is used to detect spatial autocorrelation. The regression results are compared with the valuation of experts

Keyword
Apartment prices, Donetsk, Land assessment, Location attributes, Regression
National Category
Other Civil Engineering
Identifiers
urn:nbn:se:kth:diva-6634 (URN)2-s2.0-37349029652 (Scopus ID)
Note

QC 20100906

Available from: 2006-12-15 Created: 2006-12-15 Last updated: 2017-12-14Bibliographically approved

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