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GIS-MRA Techniques in Property Valuation: A Framework for Implementation

The awareness among valuers to improve valuation analyses has induced the use of Geographic Information System (GIS) as a spatial tool. This tool has, at least, two main attractions to property valuation. First, the capability of providing an integrated database handling system, simultaneously rela...

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Main Author: Mar Iman, Abdul Hamid
Format: Article
Language:English
Published: Fakulti Kejuruteraan & Sains Geoinformasi, Universiti Teknologi Malaysia. 1999
Subjects:
TA Engineering (General). Civil engineering (General)
Online Access:http://eprints.utm.my/id/eprint/5100/1/gis.pdf
http://eprints.utm.my/id/eprint/5100/
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spelling my.utm.51002010-06-01T03:23:31Z http://eprints.utm.my/id/eprint/5100/ GIS-MRA Techniques in Property Valuation: A Framework for Implementation Mar Iman, Abdul Hamid TA Engineering (General). Civil engineering (General) The awareness among valuers to improve valuation analyses has induced the use of Geographic Information System (GIS) as a spatial tool. This tool has, at least, two main attractions to property valuation. First, the capability of providing an integrated database handling system, simultaneously relating spatial and attribute data of properties. Second, the capability of spatial operation and representation of these data. These functions can be performed in conjunction with multiple regression analysis (MRA) for a number of spatial analyses to improve modelling analyses. The MRA has been used as an aspatial analysis tool for real estate problems since 1920's. Characterized by its "correlation" and "prediction" features, this technique provides statistical reasoning capabilities. However, although the statistical milieu provides models that are capable of producing relatively accurate and consistent regression estimates, the technique does not possess spatial analysis capability. This capability is felt necessary because the incidence of property values are locationally distributed. Furthermore, many complex phenomena that change spatially and temporally can only be better understood by analyzing them in a visualized manner. GIS fills in this gap. With a proper framework, both GIS and MRA can be combined as a new tool of spatial reasoning in real estate analyses, particularly valuation. The core of GIS-MRA techniques is spatial-statistical analyses of property determinants and how they affect property values. This paper presents an outline of the major aspects of GIS-MRA applications in property valuation with the objective of providing a basic theoretical framework of GIS-MRA techniques, focussing on the major steps of applications in property valuation. From the discussion, it is concluded that, if the GIS-MRA techniques are carefully employed, they will add a scientific dimension to real estate analyses. Fakulti Kejuruteraan & Sains Geoinformasi, Universiti Teknologi Malaysia. 1999-09 Article PeerReviewed application/pdf en http://eprints.utm.my/id/eprint/5100/1/gis.pdf Mar Iman, Abdul Hamid (1999) GIS-MRA Techniques in Property Valuation: A Framework for Implementation. Buletin Geoinformasi, 3 (1). pp. 63-79. ISSN 1394-7702
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
language English
topic TA Engineering (General). Civil engineering (General)
spellingShingle TA Engineering (General). Civil engineering (General)
Mar Iman, Abdul Hamid
GIS-MRA Techniques in Property Valuation: A Framework for Implementation
description The awareness among valuers to improve valuation analyses has induced the use of Geographic Information System (GIS) as a spatial tool. This tool has, at least, two main attractions to property valuation. First, the capability of providing an integrated database handling system, simultaneously relating spatial and attribute data of properties. Second, the capability of spatial operation and representation of these data. These functions can be performed in conjunction with multiple regression analysis (MRA) for a number of spatial analyses to improve modelling analyses. The MRA has been used as an aspatial analysis tool for real estate problems since 1920's. Characterized by its "correlation" and "prediction" features, this technique provides statistical reasoning capabilities. However, although the statistical milieu provides models that are capable of producing relatively accurate and consistent regression estimates, the technique does not possess spatial analysis capability. This capability is felt necessary because the incidence of property values are locationally distributed. Furthermore, many complex phenomena that change spatially and temporally can only be better understood by analyzing them in a visualized manner. GIS fills in this gap. With a proper framework, both GIS and MRA can be combined as a new tool of spatial reasoning in real estate analyses, particularly valuation. The core of GIS-MRA techniques is spatial-statistical analyses of property determinants and how they affect property values. This paper presents an outline of the major aspects of GIS-MRA applications in property valuation with the objective of providing a basic theoretical framework of GIS-MRA techniques, focussing on the major steps of applications in property valuation. From the discussion, it is concluded that, if the GIS-MRA techniques are carefully employed, they will add a scientific dimension to real estate analyses.
format Article
author Mar Iman, Abdul Hamid
author_facet Mar Iman, Abdul Hamid
author_sort Mar Iman, Abdul Hamid
title GIS-MRA Techniques in Property Valuation: A Framework for Implementation
title_short GIS-MRA Techniques in Property Valuation: A Framework for Implementation
title_full GIS-MRA Techniques in Property Valuation: A Framework for Implementation
title_fullStr GIS-MRA Techniques in Property Valuation: A Framework for Implementation
title_full_unstemmed GIS-MRA Techniques in Property Valuation: A Framework for Implementation
title_sort gis-mra techniques in property valuation: a framework for implementation
publisher Fakulti Kejuruteraan & Sains Geoinformasi, Universiti Teknologi Malaysia.
publishDate 1999
url http://eprints.utm.my/id/eprint/5100/1/gis.pdf
http://eprints.utm.my/id/eprint/5100/
_version_ 1643644236951715840
score 13.211869

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