The Use of Geospatial Information System for an Enhanced Property Valuation Process

Abstract

Property valuation is an art and science as described by professionals and in a number of case laws. Technologies like Geospatial Information System (GIS), Artificial Intelligence (AI), Building Information Management (BIM), deep or machine learning are argued to have an impact in the determination of property value. However, there is a dearth of published material that has streamlined the use of technologies, specifically the use of GIS for an enhanced property valuation process. Hence, the stance taken in this research is to set out a systematic review protocol guided by an updated PRISMA 2020 guideline for systematic reviews to search the possible use of GIS for an enhanced property valuation process. Results of the synthesised sources show four main themes of the use of GIS in the property valuation process, they are the data visualisation, mass valuation, cloud system and price prediction. Findings are significant to the development of a comprehensive integration between GIS and real estate valuation practice, and also for questionnaire development in future research for professional opinions or facts relating to this research area.

Keywords

• Geospatial Information System
• Property Valuation
• GIS
• Price Prediction