Thomas Dimopoulos

Neapolis University · Real Estate

Since its birth, property taxation has been a major source of revenue. Taxation in general, is an important conduit to generate revenue and also a tool to redistribute wealth. It can act as a tool to manage land use, urban density and expansion, speculations, economic cycles and transactions. Nowadays, property taxation is more important than ever,...

Purpose The purpose of this study is to investigate how the degree of overpricing (DOP) and other variables are associated with the time on the market (TOM) and the final selling price (SP) for residential properties in the Paphos urban area. Design/methodology/approach The hedonic pricing model was used to examine the association of TOM and SP wi...

T he subject of the study is pilot clusters that are beneficial to a particular region, taking into account the traditions and production areas of the region. The work aims to develop an innovative strategy for state-supported pilot clusters that would allow for flexible management decision making. The proposed method involves the compound real opt...

A recent study of property valuation literature indicated that the vast majority of researchers and academics in the field of real estate are focusing on Mass Appraisals rather than on the further development of the existing valuation methods. Researchers are using a variety of mathematical models used within the field of Machine Learning, which ar...

The research papers issued in scientific journals, for a variety of thematic areas, are not only increasing, nonetheless exhibit an exponential growth over the last years. Accordingly, the researchers, struggle to retrieve information apropos of novel knowledge and get informed in their field, while the rigor and at the same time, the extensive com...

The purpose of this article is to examine the prediction accuracy of the Random Forests, a machine learning method, when it is applied for residential mass appraisals in the city of Nicosia, Cyprus. The analysis is performed using transaction sales data from the Cyprus Department of Lands and Surveys, the Consumer Price Index of Cyprus from the Cyp...

The purpose of this article is to examine the prediction accuracy of the Random Forests, a machine learning method, when it is applied for residential mass appraisals in the city of Nicosia, Cyprus. The analysis is performed using transaction sales data from the Cyprus Department of Lands and Surveys, the Consumer Price Index of Cyprus from the Cyp...

Sun, Air and Water are the most powerful sources of life on earth. Southern Orientation (SO) and Natural Cross Ventilation (NCV) are the best expressions of our relationship to those eternal forces. SO and NCV are behind any successful Passive Solar Design. Health, comfort, air quality, natural lighting, residential satisfaction, good micro-climati...

Sun, Air and Water are the most powerful sources of life on earth. Southern Orientation (SO) and Natural Cross Ventilation (NCV) are the best expressions of our relationship to those eternal forces. SO and NCV are behind any successful Passive Solar Design. Health, comfort, air quality, natural lighting, residential satisfaction, good micro-climati...

The future of Valuations

Property tax in Greece is levied since 1985 not on Market Values but on the “objective value” of the properties as it is defined by the Ministry of Economics. It forms a non-flexible system, with market-irrelevant and unrealistic values, inducing land-policy practices and potential political cost to each periodical update. Furthermore, instead of a...

Charles Tiebout (1956), in his work "A Pure Theory of Local Expenditures", provides a vision of the workings of the local public sector, acknowledging many similarities to the features of a competitive market, however omitting any references to local taxation. Contrary to other researchers' claim that the Tiebout model and the theory of fiscal dece...

This paper aims to examine how CAMA, GIS and Remote Sensing are integrated to assist property taxation. Real property tax apart from its fiscal dimension is directly linked to geographic location. The value of the land and other immovable features such as buildings and structures is determined from specific parameters. All these immovable assets ar...