Property markets with unrevealed prices. Adaptive valuation procedures

In order to be economically and financially sustainable, urban renewal measures that involve degraded urban areas are mainly applicable in real estate and market operations. Although the intervention often takes place in markets with unrevealed prices, where it is not possible to derive data regarding real estate operators’ willingness to invest nor users’ preferences, it is nevertheless necessary to assess the financial viability of such operations. For this purpose, the essay proposes an adaptive valuation procedure based on the preferences stated by a sample of potential consumers and producers, which makes it possible to estimate the most likely market value and transaction quantities.