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DOI: 10.14438/gn.2013.06
submitted: 2013-05-14, accepted: 2013-05-28, published: 2013-05-30

The use of multiple linear regression in property valuation

Branko Božić1*, Dragana Milićević Sekulić1, Marko Pejić1, Stevan Marošan1

1University of Belgrade, Faculty of Civil Engineering, Serbia

Abstract. The property appraisal is of great importance for one country and its economy. Nowadays, successful land management system could not be imagined without the subsystem related to market economy. Having the information about land and its values offer broad possibilities for market economy and strongly influence development of the real estate market. Special attention should be paid to the mass appraisal methods and its use in developing the tax system and framework for appropriate property appraisal system. Multiple regression analysis is just one of the methods used for this purpose and this article is focused to its characteristics and advantages in mass appraisal system development.

Keywords. Property appraisal, Multiple regression analysis, Mass appraisal

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