@techreport{fff3e2cca51741f6badfa641810d52e9,
title = "The Accuracy of Long-term Real Estate Valuations",
abstract = "By using a unique data set of single-family house transactions, we examine the accuracy of the cost and sales comparison approach over different forecast horizons. We find that sales comparison values provide better long-term forecasts than cost values if the economic loss function is symmetric. A weighted average of both sales comparison value and cost value can reduce this loss even further. If the economic loss function is asymmetric, however, cost values might provide better long-term forecasts.",
author = "Rainer Schulz and Markus Staiber and Martin Wersing and Axel Werwatz",
year = "2008",
language = "English",
series = "SFB 649 Discussion paper",
publisher = "Humboldt-Universit{\"a}t zu Berlin",
number = "2008-019",
type = "WorkingPaper",
institution = "Humboldt-Universit{\"a}t zu Berlin",
}