Author:

Tomasz MARCHEWK

email: tomasz.marchewka@gmail.com

Robert GŁOWACKI

Agata JAROSZ

Czestochowa University of Technology

Abstract

Predicting the trends of price changes on the real estate market leads to taking the appropriate decisions in the problematic areas of the value management of property, as well as in the procedure of valuating real estate. Various approaches in terms of determining time trends and a variety of determinants influencing the value of real estate which have an effect on the scant justification of the mathematical accuracy of the models arising from the sectoral norms. The implementation of the chain index method for the purpose of estimating the quantitative changes in the narrow segment of the real estate market, namely the market of undeveloped plots of land, causes the illustration of a strong correlation between the number of quotations and the trend of changes in value. On the basis of the example of the price quotations for plots of land within the city boundaries of Czestochowa over the past 10 years, in the herein paper a forecast for the fluctuations in values has been prepared, while also a number of quotations for the forthcoming years. The research results attained have been listed directly with the equations of time trends that have been directly estimated for the particular market segment.

Keywords

 

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