Methodology for homogenous market area determination HAD2 - mission accomplished
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Department of Real Estate and Urban Studies, University of Warmia and Mazury in Olsztyn, Poland
Submission date: 2024-12-18
Final revision date: 2025-01-06
Acceptance date: 2025-02-02
HIGHLIGHTS
- utilizes HAD2 methodology for property market area delineation
- introduces the definition of property market tessellation
- improves transparency in property market analysis via evidence-based comparisons
- enhances real estate market consistency evaluation
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ABSTRACT
Property market delineation or determination of areas signifying property market consistency has been a subject of scientific investigation by a variety of researchers from different perspectives. Some explored it for the purposes of decision-making support systems, others for, for example, zoning or housing policy. The theory of property valuation also did not remain indifferent for spatial extraction of homogenous market areas. The following paper constitutes a several-year study within that area. Following the trace of thought formulated by John Maxwell that “every step back is a chance to look at your goals from a different perspective”, the study being based on, amongst others, the method of historic research and critical analysis, ultimately organizes and complements the author’s contribution to the scientific discussion, and in that scope is one of the substantial issues included in the concept of spatial management. It contributes to the current state of the art discussion by introducing the definition of property market tessellation, utilizing it for the purposes of original HAD2 methodology implementation.
FUNDING
The publication was written as a result of the author's internship in the School of Government at the University of North Carolina, USA, co-financed by the European Union under the European Social Fund (Operational Program Knowledge Education Development), carried out in the project Development Program at the University of Warmia and Mazury in Olsztyn (POWR.03.05. 00-00-Z310/17). This work was also supported by the IAAO Research Grant.