Volume 29, Number 1, 2007 of the Journal of Real Estate Research
Prediction of
Housing Location Price by a Multivariate Spatial Method: Cokriging
Jorge Chica-Olmo
Universidad de Granada
Facultad de Ciencias Económicas y Empresariale
Campus Cartuja s/n. 18011-Granada. Spain.
Email: jchica@ugr.es
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Abstract: Cokriging is a
multivariate spatial method to estimate spatial correlated variables.
This method allows spatial estimations to be made and interpolated maps
of house price to be created.
These maps are interesting for appraisers, real estate companies, and
bureaus because they provide an overview of location prices. Kriging
uses one variable of interest (house price) to make estimates at
unsampled locations, and cokriging uses the variable of interest and
auxiliary correlated variables. In this paper, housing location price is
estimated using kriging methods, isotopic data cokriging, and
heterotopic data cokriging methods. The results of these methods are
then compared..
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