Identifying key determinants of housing sales and time-on-the-market (TOM) using fuzzy cognitive mapping
Autor(a) principal: | |
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Data de Publicação: | 2015 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10071/10657 |
Resumo: | Price and residential housing attributes have long been identified as key determinants of home sales and, as such, they can explain time-on-the-market (TOM). It is acknowledged, however, that there are other factors (or determinants) that influence home sales and TOM, which are of great importance but seldom taken into account in the appraisal process of residential real estate. Based on the use of fuzzy cognitive mapping, we propose a framework that adds value to the way that key determinants of housing sales and TOM are identified. This framework is the result of a process involving several residential real estate experts (i.e. appraisers and realtors), and follows a constructivist approach. Our findings suggest that the use of fuzzy cognitive maps (FCMs) allows the number of omitted determinants to be reduced and the understanding of the relationships between them to be improved. The strengths and weaknesses of our methodological framework are also discussed. |
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Identifying key determinants of housing sales and time-on-the-market (TOM) using fuzzy cognitive mappingReal estateHousing salesTime-on-the-marketFuzzy cognitive mapsOperational researchPrice and residential housing attributes have long been identified as key determinants of home sales and, as such, they can explain time-on-the-market (TOM). It is acknowledged, however, that there are other factors (or determinants) that influence home sales and TOM, which are of great importance but seldom taken into account in the appraisal process of residential real estate. Based on the use of fuzzy cognitive mapping, we propose a framework that adds value to the way that key determinants of housing sales and TOM are identified. This framework is the result of a process involving several residential real estate experts (i.e. appraisers and realtors), and follows a constructivist approach. Our findings suggest that the use of fuzzy cognitive maps (FCMs) allows the number of omitted determinants to be reduced and the understanding of the relationships between them to be improved. The strengths and weaknesses of our methodological framework are also discussed.Vilnius Gediminas Technical University2016-01-14T14:33:21Z2015-01-01T00:00:00Z20152019-05-13T11:56:27Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10071/10657eng1648-715X10.3846/1648715X.2015.1052587Ferreira, F. A. F.Jalali, M. S.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:37:54Zoai:repositorio.iscte-iul.pt:10071/10657Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:17:18.608450Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Identifying key determinants of housing sales and time-on-the-market (TOM) using fuzzy cognitive mapping |
title |
Identifying key determinants of housing sales and time-on-the-market (TOM) using fuzzy cognitive mapping |
spellingShingle |
Identifying key determinants of housing sales and time-on-the-market (TOM) using fuzzy cognitive mapping Ferreira, F. A. F. Real estate Housing sales Time-on-the-market Fuzzy cognitive maps Operational research |
title_short |
Identifying key determinants of housing sales and time-on-the-market (TOM) using fuzzy cognitive mapping |
title_full |
Identifying key determinants of housing sales and time-on-the-market (TOM) using fuzzy cognitive mapping |
title_fullStr |
Identifying key determinants of housing sales and time-on-the-market (TOM) using fuzzy cognitive mapping |
title_full_unstemmed |
Identifying key determinants of housing sales and time-on-the-market (TOM) using fuzzy cognitive mapping |
title_sort |
Identifying key determinants of housing sales and time-on-the-market (TOM) using fuzzy cognitive mapping |
author |
Ferreira, F. A. F. |
author_facet |
Ferreira, F. A. F. Jalali, M. S. |
author_role |
author |
author2 |
Jalali, M. S. |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Ferreira, F. A. F. Jalali, M. S. |
dc.subject.por.fl_str_mv |
Real estate Housing sales Time-on-the-market Fuzzy cognitive maps Operational research |
topic |
Real estate Housing sales Time-on-the-market Fuzzy cognitive maps Operational research |
description |
Price and residential housing attributes have long been identified as key determinants of home sales and, as such, they can explain time-on-the-market (TOM). It is acknowledged, however, that there are other factors (or determinants) that influence home sales and TOM, which are of great importance but seldom taken into account in the appraisal process of residential real estate. Based on the use of fuzzy cognitive mapping, we propose a framework that adds value to the way that key determinants of housing sales and TOM are identified. This framework is the result of a process involving several residential real estate experts (i.e. appraisers and realtors), and follows a constructivist approach. Our findings suggest that the use of fuzzy cognitive maps (FCMs) allows the number of omitted determinants to be reduced and the understanding of the relationships between them to be improved. The strengths and weaknesses of our methodological framework are also discussed. |
publishDate |
2015 |
dc.date.none.fl_str_mv |
2015-01-01T00:00:00Z 2015 2016-01-14T14:33:21Z 2019-05-13T11:56:27Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10071/10657 |
url |
http://hdl.handle.net/10071/10657 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
1648-715X 10.3846/1648715X.2015.1052587 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Vilnius Gediminas Technical University |
publisher.none.fl_str_mv |
Vilnius Gediminas Technical University |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799134732135432192 |