GIS in Real Estate Valuation

This article proposes the application and integration of two powerful analytical tools - real estate valuations and geographic information systems (GIS) - and how their use and integration could improve the assessment process in an easily accessible data environment. Locating a real estate property is the most basic GIS application in the evaluation process. Moreover, GIS can be used effectively in the evaluation process to manage large data sets, which can also be used in statistical modelling. Evaluating large sets of data has defined statistical methods, which are credible tools in the evaluation process, and the integration of statistical modelling tools into a GIS-based environment can lead to a practical and useful GIS for all valuers. [3]