Template-Type: ReDIF-Article 1.0
Author-Name: Áron Horváth
Author-Workplace-Name: Head of the ELTINGA Centre for Real Estate Research and research fellow at the Institute of
Economics, Centre for Economic and Regional Studies of the Hungarian Academy of Sciences
Author-Email: horvathar@eltinga.hu
Author-Person: pho461

Author-Name: Blanka Imre
Author-Workplace-Name: PhD student in economics at Universita Bocconi
Author-Email: blanka.imre@unibocconi.it

Author-Name: Zoltán Sápi
Author-Workplace-Name: Analyst at the ELTINGA Centre for Real Estate Research
Author-Email: sapiz@eltinga.hu



Title: The International Practice of Statistical
Property Valuation Methods and the
Possibilities of Introducing Automated
Valuation Models in Hungary

Abstract: In the wake of regulatory, information technology and methodological changes,
statistical property valuation has gained traction in Hungary. This paper looks at
the available methods of appraisal based on the literature. We provide an overview
of the advantages and drawbacks of the currently known methods. Based on
these, automated valuation models (AVMs) can be readily introduced alongside
the estimated median value based methods used so far. For real estate industryspecific
reasons, the introduction of parametric hedonic estimates supplemented
with spatial correlations can be expected for the time being. The better performance
of statistical models would need improved quality of duties office data.

Classification-JEL: C15, C45, G21
Keywords: mortgage, collateral valuation, automated valuation model, statistical
valuation
Journal: Financial and Economic Review  
Pages: 45–64
Volume: 15
Issue: 4
Year: 2016
File-URL: http://english.hitelintezetiszemle.hu/letoltes/aron-horvath-blanka-imre-zoltan-sapi.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:15:y:2016:i:4:p:45-64