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Buildings 2017, 7(1), 12; doi:10.3390/buildings7010012

Rough Set Theory for Real Estate Appraisals: An Application to Directional District of Naples

Department of Industrial Engineering, University of Naples “Federico II”, Naples 80125, Italy
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Received: 22 November 2016 / Accepted: 4 February 2017 / Published: 8 February 2017
(This article belongs to the Special Issue Real Estate Economics, Management and Investments)
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Abstract

This paper proposes an application of Rough Set Theory (RST) to the real estate field, in order to highlight its operational potentialities for mass appraisal purposes. RST allows one to solve the appraisal of real estate units regardless of the deterministic relationship between characteristics that contribute to the formation of the property market price and the same real estate prices. RST was applied to a real estate sample (office units located in Directional District of Naples) and was also integrated with a functional extension so-called “Valued Tolerance Relation” (VTR) in order to improve its flexibility. A multiple regression analysis (MRA) was developed on the same real estate sample with the aim to compare RST and MRA results. The case study is followed by a brief discussion on basic theoretical connotations of this methodology. View Full-Text
Keywords: buildings appraisal; real estate market; Rough Set Theory; Valued Tolerance Relation; uncertainty conditions buildings appraisal; real estate market; Rough Set Theory; Valued Tolerance Relation; uncertainty conditions
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Del Giudice, V.; De Paola, P.; Cantisani, G.B. Rough Set Theory for Real Estate Appraisals: An Application to Directional District of Naples. Buildings 2017, 7, 12.

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