D 2015

Flood Risk as a Price-setting Factor in The Market Value of Real Property

CUPAL, Martin

Základní údaje

Originální název

Flood Risk as a Price-setting Factor in The Market Value of Real Property

Autoři

Vydání

23. vyd. Amsterdam, Procedia Economics and Finance, od s. 658-664, 7 s. 2015

Nakladatel

Elsevier

Další údaje

Jazyk

angličtina

Typ výsledku

Stať ve sborníku

Obor

50200 5.2 Economics and Business

Stát vydavatele

Nizozemské království

Utajení

není předmětem státního či obchodního tajemství

Forma vydání

elektronická verze "online"

Organizační jednotka

Ekonomicko-správní fakulta

ISSN

DOI

Klíčová slova anglicky

Market value; real estate; linear regression model; price-setting factor; flood risk

Příznaky

Mezinárodní význam, Recenzováno
Změněno: 23. 9. 2015 12:53, doc. Ing. et Ing. Martin Cupal, Ph.D. et Ph.D.

Anotace

V originále

Currently, flood risk can be considered as the most serious threat, mainly in areas and countries where hardly any other natural risks occur. In relation to the field of valuation and insurance, flood risk represents a significant factor entering the new valuation procedures as well as binding regulations for real property valuation. The main objective of the research was to determine whether flood risk could be considered as a price-setting factor in market price of a real estate. If so, then it would be possible to start considering it in real estate valuation methods. Statistical methods of multiple linear regression model and statistical hypothesis testing, particularly statistical signification of regression parameter representing flood risk were employed in the research. The research was performed on the housing segment of the Czech real estate market. The paper presents an estimated model with a modified set of parameters that can be used to determine the market price of a house and also determine the degree of influence factor the flood risk may have on the final market price.