Analysis of the effect of the factor «Distance to the Volga river» on the value of real estate with the application of mathematical methods (on the example of the city Cheboksary of Chuvash Republic)

Author(s):  T.M. Gubanova, Chuvash State University, Cheboksary, Russia

Inna V. Nikonorova, candidate of Sciences, associate Professor, Chuvash State University, Cheboksary, Russia, head of the Depart-ment of physical geography and geomorphology

Issue:  Volume 43, № 3

Rubric:  Earth sciences

Annotation:  The article is devoted to the analysis of the influence of the factor «Distance to the Volga River» on the value of residential real estate located in the territory of the city of Cheboksary of the Chuvash Republic. It reveals the order and the main points of this analysis with the use of mathematical methods, namely the correlation and regression analysis. The analysis is carried out taking into account and without taking into account the factor «Year of construction of the object» on the example of proposals for the sale of one-room and two-room apartments. The analysis of the influence of the Volga River on the cost of apartments included three stages: 1) drawing up a variation series; 2) determination of the correlation coefficient and the coefficient of determination; 3) building a model of the influence of the Volga River on the value of residential real estate in the form of a regression equation. The results of this article can be used by appraisers, developers, investors, government authorities, local governments, as well as other persons in making decisions related to the management of residential real estate located in the city of Cheboksary. Also, the obtained results can be used during the state cadastral assessment, as in accordance with the Methodological Guidelines on State Cadastral Valuation, approved by Order of the Ministry of Economic Development of Russia of 12.05.2017 № 226, the approximate list of pricing factors for determining the cadastral value is included relative to the nearest water body, its name, type (sea, river, lake, pond, flooded quarry, etc.), refusal to consider the fact of determination coefficient (R2) must be justified. As such a water body in determining the cadastral value of real estate located in the city of Cheboksary, the Volga River can act.

Keywords:  mathematical methods, real estate value, real estate valuation, Volga river, the city of Cheboksary.

Full text (PDF):  Download

Downloads count:  358