Architectural Factors Influencing a Housing Market Value : a Theoretical Framework

• Autorzy: Tomas Skripkiūnas , Valentinas Navickas
• Języki publikacji: EN

Abstrakty

EN

A housing price, not considering its change over time, is widely determined by hedonic properties. This is common in literature; however, there is a significant part of a price, the so-called unexplained variance, that is not captured by hedonic models. The scientific problem of this research is how to classify and visualize architectural factors that might have an influence on the market value of a dwelling. The object of the research are architectural factors in a housing market value analysis and the aim of research is to describe the theoretical framework that defines the structure and scope of architectural variables influencing a housing market value. Not all architectural factors described in the literature review are equal in terms of scale, measurability, public or private context, aesthetic or functional priority. A systematic approach would be to classify architectural factors as a matrix of built environment properties. Two orthogonal dimensions can be identified: architectural factors spanning from non-design (functional, utilitarian) to design (abstract, unexplained) and factors spanning from architectural design (private) to urban design (public). A multidimensional and complex system of architectural variables influencing a housing market value exists. Understanding this system is crucial for a housing development to succeed. (original abstract)

Słowa kluczowe

EN

Market value; Economic value; Real estate

PL

Wartość rynkowa; Wartość ekonomiczna; Nieruchomości

• Czasopismo: Real Estate Management and Valuation
• Rocznik: 2023
• Numer: vol. 31, iss. 1
• Strony: 25--35

Twórcy

autor

Tomas Skripkiūnas

• Kaunas University of Technology, Lithuania

autor

Valentinas Navickas

• Kaunas University of Technology, Lithuania

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Identyfikatory

DOI

doi.org/10.2478/remav-2023-0003