In this paper a mass appraisal methodology for the periodic reviews of the market values of special properties that constitute the asset balance of relevant real estate portfolios has been developed. Using the information published by Italian databases, a study sample of office properties of medium and large size, located in the city of Milan (Italy) and sold in the last decade, has been obtained.
Purpose
In the present paper, two innovative methodologies (Utility Additive and Evolutionary Polynomial Regression) for mass appraisal of residential properties have been tested and compared. The aim is to deepen their characteristics, by exploring the potentialities and the operating limits.
Design/metodology/approach
Purpose: As regards the assessment of the market values of properties that compose real estate portfolios, the purpose of this paper is to propose and test an automated valuation model. In particular, the method defined allows for providing for objective, reliable and “quick” valuations of the assets in the phases of periodic reviews of the property values.
In the present paper, two innovative methodologies (Utility Additive and Evolutionary Polynomial Regression) for mass appraisal of residential properties have been tested and compared. The aim is to deepen their characteristics, by exploring the potentialities and the operating limits. With reference to the same case studies, concerning samples of residential properties recently sold in three Italian cities, the two procedures are tested and the results are compared.
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