Decision Making in Real Estate: Portfolio Approach-Reference-Cited by-同舟云学术

Decision Making in Real Estate: Portfolio Approach

Published:2021-12-01 Issue:4 Volume:21 Page:28-44
ISSN:1314-4081
Container-title:Cybernetics and Information Technologies
language:en
Short-container-title:

Author:

Stoilov Todor¹,Stoilova Krasimira¹,Vladimirov Miroslav²

Affiliation:

1. Institute of Information and Communication Technologies, Bulgarian Academy of Sciences , Acad. G. Bonchev Str. bl.2, 1113 Sofia , Bulgaria

2. Varna University of Economics , 77 Kniaz Boris Bul., 9002 Varna , Bulgaria

Abstract

Abstract An investment policy is suggested about assets on real estate markets. Such analysis recommends investments in non-financial assets and optimization of the results from such decisions. The formalization of the investment policy is based on the portfolio theory for asset allocation. Two main criteria are applied for the decision making: return and risk. The decision support is based on Mean-Variance portfolio model. A dynamical and adaptive investment policy is derived for active portfolio management. Sliding procedure in time with definition and solution of a set of portfolio problems is applied. The decision defines the relative value of the investment to which real estates are to be allocated. The regional real estate markets of six Bulgarian towns, which identify the regions with potential for investments, are compared. The added value of the paper results in development of algorithm for a quantitative analysis of real estate markets, based on portfolio theory.

Publisher

Walter de Gruyter GmbH

Subject

General Computer Science

Link

https://www.sciendo.com/pdf/10.2478/cait-2021-0041

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