Research Information System
GI_Forum, vol.7, no.2, pp.98-112, 2019 (Scopus)
Estimating the value of real estate has applications in fields as
diverse as taxation, buying and renting properties, expropriation and
urban regeneration. Determining the most objective, accurate and
acceptable value for real estate by considering spatial criteria is
therefore important. One stochastic method used to determine real estate
values is ‘nominal valuation’. In this approach, criteria that may
affect land value are subjected to various spatial analyses, and
pixel-based value maps can be produced using GIS. Land value maps are in
raster data format and need to be compared with the actual market
values. Pixel-resolution analyses are required that depend on the
selected grid dimensions. First of all, nominal value maps were produced
using a nominal valuation model, using criteria for proximity,
visibility and terrain. These were weighted in order to produce a
nominal asset value-based map according to the ‘Best Worst Method’.
Changes in the unit land values were examined for maps at various
resolutions; a resolution of 10 metres emerged as the ideal pixel size
for valuation maps.