Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/65337 
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dc.contributor.authorSchulz, Raineren
dc.date.accessioned2012-10-19T10:24:40Z-
dc.date.available2012-10-19T10:24:40Z-
dc.date.issued2002-
dc.identifier.piurn:nbn:de:kobv:11-10049135en
dc.identifier.urihttp://hdl.handle.net/10419/65337-
dc.description.abstractAppraisals are needed for decision-making and for performance evaluation. Knowledge on the accuracy of valuation methods is of general interest for banks and investors. We assess the accuracy of the German Regulation on Valuation with monthly data on appraisals and prices for commercial apartment houses in Berlin, Germany from 1980 to 2000. The appraisals are compared with outcomes of the simpler capitalization method and are ranked better according to several prediction error measures. Nonparametric density estimates give the error distributions and investors can decide which method is preferable. Eventually, we explain short-run deviations between prices and appraisals by incompletely appraised object-specific factors and by market indicators.en
dc.language.isoengen
dc.publisher|aHumboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes |cBerlinen
dc.relation.ispartofseries|aSFB 373 Discussion Paper |x2002,55en
dc.subject.jelG12en
dc.subject.jelK00en
dc.subject.ddc330en
dc.subject.keywordAppraisal Accuracyen
dc.subject.keywordDiscounted Valueen
dc.subject.keywordHouse Pricesen
dc.subject.keywordState Space Modelen
dc.titleReal estate valuation according to standardized methods: An empirical analysis-
dc.typeWorking Paperen
dc.identifier.ppn726807524en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:sfb373:200255en

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