Geospatial Analysis of Implied Property Value with Socioenvironmental
Track: Statistical Analysis
Authors: Zbigniew Brodzik
The spatial relationship was studied between socioenvironmental factors and the difference between assessment and sale price of residential properties using spatial modeling, and geo-spatial analysis, such as Global OLS and Local GWR models, and spatial autocorrelation. The synthetic and natural factors that explain the correlational relationship between the variables were found. This can be used to make accurate valuations and to indicate prime locations for residential property development.