Professional paper

The Application of Intelligent Techniques for Massreal Estate Appraisal

Miroslav Kuburić ; Faculty of Civil Engineering Subotica, University of Novi Sad, Subotica, Serbia
Goran Ćirović orcid.org/0000-0001-7419-8695 ; Faculty of Technical Sciences, University of Novi Sad, Novi Sad, Serbia

Abstract

The paper reviews the concept of mass appraisal of real estate, within which, besides defining the basic concepts, a comparative analysis is carried out of different international experiences related to this issue. The normative and institutional order of the subject area is analyzed in a test area, while the concept of evaluating spatial units as a base of massreal estate appraisal and the field of their use are also defined. The essence of a valuation model of spatial units is defined, based on the principle of case based reasoning (CBR) and logical aggregation (LA), and the mathematical basis for the proposed model is given for anticipating the average price of real estate within spatial units. In the proposed model, spatial units are described, that is, the method of their normalization and their granulation into groups. Individual attributes and groups are allocated appropriate weight by which their individual and group significance are defined within the framework of the integral model, and finally, testing of the model was carried out in a test area.

Keywords

evaluation of spatial units; mass appraisal of real estate value; case-based reasoning; logical aggregation

Hrčak ID:

87074

URI

https://hrcak.srce.hr/87074

Publication date:

14.3.2012.

Article data in other languages: croatian

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