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Realistic Uncertainty Estimation of the Market Value Based on a FuzzyBayesian
Sales Comparison Approach
SUMMARY
The real estate and finance crisis has shown the importance of real estate valuation: The
market value has to satisfy high objective quality requirements. Besides, the German
jurisdiction demands a maximum dispersion of ± 20 % of the market value. The sales
comparison approach as one of the valuation methods is from a mathematical-statistical point
of view based on a multiple linear regression analysis. Since decades, it has been considered
as a standard procedure for analysing the real estate market and to determine the current
market value. The estimated comparative value is in particular depending on the number and
the type of influencing variables which are considered within the regression model.
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