Gärtner, Philip Detlev (2023)
The Impact of Online Real Estate Listing Data on the Transparency of the Real Estate Market - Using the Example of Vacancy Rates.
Technische Universität Darmstadt
doi: 10.26083/tuprints-00024570
Ph.D. Thesis, Primary publication, Publisher's Version
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Item Type: | Ph.D. Thesis | ||||
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Type of entry: | Primary publication | ||||
Title: | The Impact of Online Real Estate Listing Data on the Transparency of the Real Estate Market - Using the Example of Vacancy Rates | ||||
Language: | English | ||||
Referees: | Linke, Prof. Dr. Hans-Joachim ; Weitkamp, Prof. Dr. Alexandra | ||||
Date: | 5 October 2023 | ||||
Place of Publication: | Darmstadt | ||||
Collation: | 182, CIII Seiten | ||||
Date of oral examination: | 15 September 2023 | ||||
DOI: | 10.26083/tuprints-00024570 | ||||
Abstract: | Despite the increasing digitization of the real estate market and the accompanying greater availability of data, as evidenced, for example, by the proliferation of online real estate listing platforms, there are still deficiencies in market transparency associated with a variety of negative aspects. This study aimed to investigate the impact of online real estate listing data on market transparency by examining the suitability of these data for scientific use in general and for the example of estimating vacancy rates in particular. Therefore, a comprehensive data set consisting of more than seven million listings was collected over one and a half years and analyzed with regard to all available features in terms of their quality and quantity. Furthermore, their explanatory power for estimating vacancy rates was tested by their application in different regression models. The features specified in online real estate listings showed an average completeness of 85.97 % and, most widely, plausible feature specifications. Exceptions were information regarding energy demand, which were only available in 20.79 % of listings, and the specification of the building quality and condition, which showed indications of being positively biased. The estimation of vacancy rates on the district level, based on online real estate listing data, showed promising results, being able to explain vacancy rates with a goodness of fit of a pseudo R² of 0.81 and a mean absolute error of 0.84 percentage points. These results suggest that information contained in online real estate listing data are a good basis for scientific evaluation and are specifically well suited for estimating vacancy rates. The findings imply the utilization of online real estate listing data for a diverse range of purposes, extending beyond the current focus of price-related research. |
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Status: | Publisher's Version | ||||
URN: | urn:nbn:de:tuda-tuprints-245707 | ||||
Classification DDC: | 300 Social sciences > 330 Economics | ||||
Divisions: | 13 Department of Civil and Environmental Engineering Sciences > Institute of Geodesy | ||||
Date Deposited: | 05 Oct 2023 12:03 | ||||
Last Modified: | 06 Oct 2023 08:59 | ||||
URI: | https://tuprints.ulb.tu-darmstadt.de/id/eprint/24570 | ||||
PPN: | 512061963 | ||||
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