International Journal Research on Metaverse
Vol. 1 No. 2 (2024): Regular Issue September 2024

The Impact of Market Activity on Property Valuations in Digital Real Estate Through a Quantitative Analysis of Bidding and Sales Dynamics

Jeffri Prayitno Bangkit Saputra (Doctor of Computer Science Program Bina Nusantara University, Jakarta, Indonesia)
Nadya Awalia Putri (Magister of Computer Science, Universitas Amikom Purwokerto, Jawa Tengah, Indonesia)



Article Info

Publish Date
01 Sep 2024

Abstract

This study investigates the impact of market activities, specifically the number of bids and sales, on property prices in digital real estate markets. With the rise of virtual environments and digital assets, understanding the factors that drive property valuations in these markets has become increasingly important. Utilizing a dataset of 2,000 property transactions, this research employs correlation and regression analyses to explore how competitive bidding and sales frequency influence prices. The results indicate a significant positive correlation (r=0.38r = 0.38r=0.38) between the number of bids a property receives and its final sales price, suggesting that properties attracting more bids are perceived as more valuable, leading to higher prices. The regression analysis further supports this, showing that each additional bid is associated with an increase of 6.63×10216.63 \times 10^{21}6.63×1021 in the sales price (p

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Journal Info

Abbrev

ijrm

Publisher

Subject

Computer Science & IT

Description

Virtual and augmented reality technologies Network infrastructure and architecture for the metaverse Digital economy and transactions in the metaverse Social and cultural aspects of virtual environments Development and design of content in the metaverse Impact of the metaverse on industries such as ...