An Analytic Hierarchy Process (AHP) framework for property valuation to identify the ideal 2050 portfolio mixes in EU-27 countries with shrinking populations

Royo, Roberto Elías Cervelló; Guijarro, Francisco; Pfahler, Thomas; Preuß, Marion

doi:10.1007/s11135-015-0264-3

Cited by 11 publications

(8 citation statements)

References 26 publications

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“…This methodology forecasts a way of measuring demand on a non-monetary scale and its results can be interpreted and validated in terms of sustainable and social utility, since it rates the priority of the intervening groups. There is existing literature in which this methodology is applied and compared with other methods [5,[18][19][20][21][22] showing this new approach can overcome some of the problems faced by the traditional methods. Given the multifunctional role of housing, we study the preferences of demand and two other collectives: real estate agents and real estate surveyors.…”

Section: Methodsmentioning

confidence: 99%

“…With this aim, we conducted a survey of a set of recent housing buyers (we gave preference to real housing buyers rather than potential because the goods can be identified and their attributes contrasted in a more suitable and sustainable way), real estate agents, and real estate surveyors in the city of Valencia [16]. For the weight of the different attributes in determining the value of the good, the methodology of the analytic hierarchy process (AHP) was used, considering that it is the most suitable method to analyze the decision-making process of housing purchases as evidenced by the abundant literature on the subject [18][19][20][21][22].…”

Section: Introductionmentioning

confidence: 99%

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An Analysis of Preferences in Housing Demand by Means of a Multicriteria Methodology (AHP). A More Sustainable Approach

et al. 2021

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This paper examines key aspects of the behavior of housing demand from a sustainable standpoint. Most studies have mainly focused on housing supply, looking at quantitative predictions without considering the qualitative relationship found between housing values and housing demand on a sustainable and microeconomic scale. We used a multicriteria decision methodology (analytic hierarchy process—AHP) for the analysis of preferences in demand, based on the theory of multi-attribute utility of housing, to determine the relative importance of each characteristic of housing and its influence on the decision-making process. For this purpose, we carried out the study over three main groups of stakeholders in the housing market: real estate surveyors, real estate agents, and housing buyers (the latter representing the housing demand). Results show that although there might be some slight discrepancies among the three groups in the decision-making process and the weighting of housing attributes, the three groups agree in most of the process, especially when defining the criteria and the importance that each criterion has on the process of valuation. This study provides important managerial and sustainable implications for the real estate market related to urban public policy, as we highlight which criteria are most preferred.

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Section: Methodsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

An Analysis of Preferences in Housing Demand by Means of a Multicriteria Methodology (AHP). A More Sustainable Approach

et al. 2021

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“…The value of pair comparison matrices of these factors is used to provide the means for decision making evaluations (Triantaphyllou and Mann, 1995). It has wide application in many areas like economic (Cervelló-Royo et al, 2015), social (Westhues et al, 2001), and management science (Ansary et al, 2009). AHP moulds decision-making problem and exhorts the decision-making process by identifying objectives, criteria, and alternatives, by comparing criteria and alternatives between pairs and defining priorities of alternatives (Oreski, 2012).…”

Section: Figure 1: Strategic Management Processmentioning

confidence: 99%

Application of combined SWOT and AHP for strategy development: evidence from pottery industry of Bangladesh

Islam

Akter

Pervez

et al. 2020

Asian Journal of Agriculture and Rural Development

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This study aims to explore the appropriate strategies to revive the pottery industry development in Bangladesh. The research followed SWOT-AHP combined method that is based on Analytical Hierarchy Process (AHP) weighting methodology. SWOT analysis is one of the popular tools for environmental scanning to identify the internal and external environmental factors simultaneously for defining an enterprise's strategic actions. Due to some flaws of SWOT analysis, this study followed the AHP, which is a multi-criteria decision-making approach. The qualitative data collection consisted of a Focus Group Discussion (FGD) and in-depth Interviews. We analyzed quantitative data by the AHP to identify the relative prominence of each SWOT factor analysis. The results revealed that potters have an innovative capacity. Due to the lack of administrative coordination and fierce competition with alternatives products such as plastic, metallic products, they face some difficulties. Still reliability in the marketplace is increasing with time. These findings guide to generate useful inference and could be utilized for decision-making and policies formulation in pottery industry. Contribution/ OriginalityThis research significantly contributes to explore the appropriate strategies to revive the pottery industry development in Bangladesh. AHP-SWOT technique applied in the pottery sector to analysis the industry environment as well as strategy formulation, which would be a reference study to the academic researchers, MSMEs policy makers and small entrepreneurs.

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“…The use of the hierarchical model can overcome this shortcoming. Researchers use this framework for property valuation application, such as the hierarchical Bayesian approach [53] and analytic hierarchy process [54]. The hierarchical model also calculates the percentage of variance error caused by each level.…”

Section: Hierarchical Modelmentioning

confidence: 99%

Mass Appraisal Models of Real Estate in the 21st Century: A Systematic Literature Review

Wang

2019

Sustainability

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With the increasing volume and active transaction of real estate properties, mass appraisal has been widely adopted in many countries for different purposes, including assessment of property tax. In this paper, 104 papers are selected for the systematic literature review of mass appraisal models and methods from 2000 to 2018. The review focuses on the application trend and classification of mass appraisal and highlights a 3I-trend, namely AI-Based model, GIS-Based model and MIX-Based model. The characteristics of different mass appraisal models are analyzed and compared. Finally, the future trend of mass appraisal based on model perspective is defined as “mass appraisal 2.0”: mass appraisal is the appraisal procedure of model establishment, analysis and test of group of properties as of a given date, combined with artificial intelligence, geo-information systems, and mixed methods, to better model the real estate value of non-spatial and spatial data.

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An Analytic Hierarchy Process (AHP) framework for property valuation to identify the ideal 2050 portfolio mixes in EU-27 countries with shrinking populations

Cited by 11 publications

References 26 publications

An Analysis of Preferences in Housing Demand by Means of a Multicriteria Methodology (AHP). A More Sustainable Approach

An Analysis of Preferences in Housing Demand by Means of a Multicriteria Methodology (AHP). A More Sustainable Approach

Application of combined SWOT and AHP for strategy development: evidence from pottery industry of Bangladesh

Mass Appraisal Models of Real Estate in the 21st Century: A Systematic Literature Review

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