Application of Qualimetric Methods for Evaluation of Urbanized Space Quality for Analyses of the Local Real Property Market

An important step in understanding how the real estate market functions is the process of determining the quality of properties, which is based on the principles of selecting their identifying features. It is a difficult process often affected by errors, which result from a subjective approach and a lack of clear methods of transition from identifying features to the assessment of their quality. An interesting starting point for carrying out the assessment of space quality might be its utilitarian perception.

Urbanized space is designed to meet the needs of humans, just like industrial products. As a result of this, methods of evaluating objects for the purpose of production optimization were adapted in order to determine the quality of utilitarian space, which can also be treated as properties subjected to market transactions. Quality is the state of fulfilling a given set of requirements. It surrounds us wherever we are to affect us. Quality is the guiding principle in using or purchasing any types of goods or services. Qualimetric methods, i.e. the theory of quality, are characterized by the principles and methods of measuring quality.

The aim of this paper is an attempt to apply qualimetric methods to determine the qualities of properties which form the basis for identifying urban space. The implementation of these methods for the purpose of identifying and quantifying the state of market features can become both an important tool in determining the market value of a property and giving rise to new directions of market analysis.