A proper understanding of real estate markets is of economic importance and not simple as properties are a heterogenous asset where no two are alike. Traditionally, parametric or semi-parametric and, thus, assumption-based hedonic pricing models are used to analyze real estate market...

Until recently, in most countries, the use of Automated Valuation Models (AVMs) in the lending process was only allowed for support purposes, and not as the sole value-determining tool. However, this is currently changing, and regulators around the world are actively discussing the approval of...

The use of Automated Valuation Models (AVMs) in the context of traditional real estate valuations and their performance has been discussed in the academic community for several decades. Most studies focus on finding which method is best suited for estimating property values. One aspect that has...