Enhancing Property Valuation in Post-War Recovery: Integrating War-Related Attributes into Real Estate Valuation Practices

Abstract

In post-war environments, property valuation encounters obstacles stemming from widespread destruction, population displacement, and complex legal frameworks. This study addresses post-war property valuation by integrating war-related considerations into the ISO 19152 Land Administration Domain Model, resulting in a valuation information model for Syria’s post-war landscape, serving as a reference for property valuation in conflict-affected areas. Additionally, property valuation is enhanced through visualization modeling, aiding the comprehension of war-related attributes amidst and following conflict. We utilize data from a field survey of 243 Condominium Units in the Harasta district, Rural Damascus Governorate. These data were collected through quantitative interviews with real estate companies and residents to uncover facts about property prices and war-related conditions. Our quantitative data are analyzed using inferential statistics of mean housing prices to assess the impact of war-related variables on property values during both wartime and post-war periods. The analysis reveals significant fluctuations in prices during wartime, with severely damaged properties experiencing notable declines (about −75%), followed by moderately damaged properties (about −60%). In the post-war phase, rehabilitated properties demonstrate price improvements (1.8% to 22.5%), while others continue to depreciate (−55% to −65%). These insights inform post-war property valuation standards, facilitating sustainable investment during the post-war recovery phase.

Keywords

• property valuation
• LADM
• valuation model
• post-war country profile
• property visualization