IDEAS home Printed from https://ideas.repec.org/a/eee/lauspo/v75y2018icp21-32.html
   My bibliography  Save this article

Automating the land valuation process carried out in land consolidation schemes

Author

Listed:
  • Demetriou, Demetris

Abstract

Land consolidation is an effectual land management procedure aiming to sustainable development. A critical issue in land consolidation schemes is land valuation which is a type of mass appraisal that is generally carried out using an empirical process. As a result, the process is time consuming, costly and the outcomes are not adequately accurate, reliable and consistent. A solution to these problems is the employment of automated valuation models (AVMs). In this context, this paper presents the development, implementation and evaluation of two hedonic price models based on a linear and a non-linear function combined with a geographical information system (GIS), applied to a case study area in Cyprus. Models tested for quality assurance based on international standards. The evaluation based on international standards showed that the both models produced very good results and a small sample of land values provided by the Land Valuation Committee (LVC) is adequate to automate the land valuation process resulting in an adequate accuracy, reliability and consistency. Consequently, the AVM is highly efficient compared to conventional land valuation methods since it may considerably reduce the time and resources used and provide transparency because the process has been converted from empirical to systematic, analytical and standardized.

Suggested Citation

  • Demetriou, Demetris, 2018. "Automating the land valuation process carried out in land consolidation schemes," Land Use Policy, Elsevier, vol. 75(C), pages 21-32.
    • Handle: RePEc:eee:lauspo:v:75:y:2018:i:c:p:21-32
    DOI: 10.1016/j.landusepol.2018.02.049
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0264837717304465
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.landusepol.2018.02.049?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Marco Helbich & Wolfgang Brunauer & Eric Vaz & Peter Nijkamp, 2014. "Spatial Heterogeneity in Hedonic House Price Models: The Case of Austria," Urban Studies, Urban Studies Journal Limited, vol. 51(2), pages 390-411, February.
    2. Martinelli, Pablo, 2014. "Latifundia revisited: Market power, land inequality and agricultural efficiency. Evidence from interwar Italian agriculture," Explorations in Economic History, Elsevier, vol. 54(C), pages 79-106.
    3. Choumert, Johanna & Phélinas, Pascale, 2015. "Determinants of agricultural land values in Argentina," Ecological Economics, Elsevier, vol. 110(C), pages 134-140.
    4. Wang, Li & Ready, Richard C., 2005. "Spatial Econometric Approaches to Estimating Hedonic Property Value Models," 2005 Annual meeting, July 24-27, Providence, RI 19174, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Robert Lafrance & Lawrence L. Schembri, 2002. "Purchasing-Power Parity: Definition, Measurement, and Interpretation," Bank of Canada Review, Bank of Canada, vol. 2002(Autumn), pages 27-33.
    6. Nghiep Nguyen & Al Cripps, 2001. "Predicting Housing Value: A Comparison of Multiple Regression Analysis and Artificial Neural Networks," Journal of Real Estate Research, American Real Estate Society, vol. 22(3), pages 313-336.
    7. John Kilpatrick, 2011. "Expert systems and mass appraisal," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 29(4/5), pages 529-550, July.
    8. Salman Khan & Ghaffar Ali & Syed Attaullah Shah & Abbas Ullah Jan & Dawood Jan & M. Fayaz, 2016. "A hedonic analysis of agricultural land prices in Pakistan`s Peshawar district," Asian Journal of Agriculture and rural Development, Asian Economic and Social Society, vol. 6(4), pages 59-67, April.
    9. Zhiling Guo & Gary J. Koehler & Andrew B. Whinston, 2007. "A Market-Based Optimization Algorithm for Distributed Systems," Management Science, INFORMS, vol. 53(8), pages 1345-1358, August.
    10. Diogo, V. & Koomen, E. & Kuhlman, T., 2015. "An economic theory-based explanatory model of agricultural land-use patterns: The Netherlands as a case study," Agricultural Systems, Elsevier, vol. 139(C), pages 1-16.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Przemysław Leń & Klaudia Maciąg & Michał Maciąg & Justyna Wójcik-Leń & Katarzyna Kocur-Bera, 2023. "Automated Processing of Data in the Comparative Estimation of Land Value during Land Consolidation Works," Sustainability, MDPI, vol. 15(10), pages 1-13, May.
    2. Ertunç, Ela & Uyan, Mevlut, 2022. "Land valuation with Best Worst Method in land consolidation projects," Land Use Policy, Elsevier, vol. 122(C).
    3. GLUMAC Brano & DES ROSIERS François, 2018. "Real estate and land property automated valuation systems: A taxonomy and conceptual model," LISER Working Paper Series 2018-09, Luxembourg Institute of Socio-Economic Research (LISER).
    4. Zhou, Yang & Guo, Liying & Liu, Yansui, 2019. "Land consolidation boosting poverty alleviation in China: Theory and practice," Land Use Policy, Elsevier, vol. 82(C), pages 339-348.
    5. Liu, Lun & Gao, Xuesong & Zhuang, Jiexin & Wu, Wen & Yang, Bo & Cheng, Wei & Xiao, Pengfei & Yao, Xingzhu & Deng, Ouping, 2020. "Evaluating the lifestyle impact of China’s rural housing land consolidation with locational big data: A study of Chengdu," Land Use Policy, Elsevier, vol. 96(C).
    6. Basista, Izabela & Balawejder, Monika, 2020. "Assessment of selected land consolidation in south-eastern Poland," Land Use Policy, Elsevier, vol. 99(C).
    7. Unel, Fatma Bunyan & Yalpir, Sukran, 2023. "Sustainable tax system design for use of mass real estate appraisal in land management," Land Use Policy, Elsevier, vol. 131(C).
    8. Orea, Luis & José A. Pérez-Méndez & Álvarez, Inmaculada C., 2021. "Does land consolidation promote livestock production and combat rural depopulation? A multi-cohort multi-treatment Difference-in-Difference analysis of parishes in northern Spain," Efficiency Series Papers 2021/05, University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG).
    9. Przemysław Leń & Michał Maciąg & Klaudia Maciąg, 2023. "Design of an Automated Algorithm for Delimiting Land Use/Soil Valuation Classes as a Tool Supporting Data Processing in the Land Consolidation Procedure," Sustainability, MDPI, vol. 15(11), pages 1-15, May.
    10. Daikun Wang & Victor Jing Li, 2019. "Mass Appraisal Models of Real Estate in the 21st Century: A Systematic Literature Review," Sustainability, MDPI, vol. 11(24), pages 1-14, December.
    11. Ela Ertunç & Zlatica Muchová & Hrvoje Tomić & Jaroslaw Janus, 2022. "Legal, Procedural and Social Aspects of Land Valuation in Land Consolidation: A Comparative Study for Selected Central and Eastern Europe Countries and Turkey," Land, MDPI, vol. 11(5), pages 1-22, April.
    12. Janus, Jarosław & Ertunç, Ela, 2022. "Towards a full automation of land consolidation projects: Fast land partitioning algorithm using the land value map," Land Use Policy, Elsevier, vol. 120(C).
    13. Glumac, Brano & Herrera-Gomez, Marcos & Licheron, Julien, 2019. "A hedonic urban land price index," Land Use Policy, Elsevier, vol. 81(C), pages 802-812.
    14. Tezcan, Ahmet & Büyüktaş, Kenan & Akkaya Aslan, Şerife Tülin, 2020. "A multi-criteria model for land valuation in the land consolidation," Land Use Policy, Elsevier, vol. 95(C).
    15. Álvarez, Inmaculada C. & Orea, Luis & Perez-Mendez, Jose A., 2019. "Rural and agricultural development by land consolidation: a spatial production analysis of Asturias´ parishes," Efficiency Series Papers 2019/04, University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG).
    16. Elena Bykowa & Maria Hełdak & Julia Sishchuk, 2020. "Cadastral Land Value Modelling Based on Zoning by Prestige: A Case Study of a Resort Town," Sustainability, MDPI, vol. 12(19), pages 1-26, September.
    17. Elena Bykowa & Maria Skachkova & Ivan Raguzin & Irina Dyachkova & Maxim Boltov, 2022. "Automation of Negative Infrastructural Externalities Assessment Methods to Determine the Cost of Land Resources Based on the Development of a “Thin Client” Model," Sustainability, MDPI, vol. 14(15), pages 1-29, July.
    18. Ertunç, Ela & Karkınlı, Ahmet Emin & Bozdağ, Aslı, 2021. "A clustering-based approach to land valuation in land consolidation projects," Land Use Policy, Elsevier, vol. 111(C).
    19. Przemysław Leń & Klaudia Maciąg & Michał Maciąg & Justyna Wójcik-Leń & Katarzyna Kocur-Bera, 2023. "Proposed Algorithm for the Optimisation of the Process of Generating the Geometry of Land Use/Soil Valuation Classes for Land Consolidation," Sustainability, MDPI, vol. 15(10), pages 1-15, May.
    20. Zeng, Zhongping & Li, Siqi & Lian, Jiunn-Woei & Li, Jiang & Chen, Tao & Li, Yujia, 2021. "Switching behavior in the adoption of a land information system in China: A perspective of the push–pull–mooring framework," Land Use Policy, Elsevier, vol. 109(C).
    21. Kara, Abdullah & van Oosterom, Peter & Çağdaş, Volkan & Işıkdağ, Ümit & Lemmen, Christiaan, 2020. "3 Dimensional data research for property valuation in the context of the LADM Valuation Information Model," Land Use Policy, Elsevier, vol. 98(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Demetris Demetriou, 2017. "A spatially based artificial neural network mass valuation model for land consolidation," Environment and Planning B, , vol. 44(5), pages 864-883, September.
    2. Renigier-Biłozor, Małgorzata & Źróbek, Sabina & Walacik, Marek & Borst, Richard & Grover, Richard & d’Amato, Maurizio, 2022. "International acceptance of automated modern tools use must-have for sustainable real estate market development," Land Use Policy, Elsevier, vol. 113(C).
    3. Ritter, Matthias & Hüttel, Silke & Odening, Martin & Seifert, Stefan, 2020. "Revisiting the relationship between land price and parcel size in agriculture," Land Use Policy, Elsevier, vol. 97(C).
    4. Bello Musa Zango & Sanni Mohammed Lekan & Mohammed Jibrin Katun, 2020. "Conventional Methods in Housing Market Analysis: A Review of Literature," Baltic Journal of Real Estate Economics and Construction Management, Sciendo, vol. 8(1), pages 227-241, January.
    5. Christopher Ragan, 2005. "The Exchange Rate and Canadian Inflation Targeting," Staff Working Papers 05-34, Bank of Canada.
    6. Wojciech Sroka & Jaroslaw Mikolajczyk & Tomasz Wojewodzic & Boguslawa Kwoczynska, 2018. "Agricultural Land vs. Urbanisation in Chosen Polish Metropolitan Areas: A Spatial Analysis Based on Regression Trees," Sustainability, MDPI, vol. 10(3), pages 1-22, March.
    7. Kitova, Olga & Dyakonova, Ludmila & Savinova, Victoria, 2020. "Prediction of Socio-Economic Indicators of the Megapolis Development on the Basis of the Intellectual Forecasting Information System “SHM Horizon”," MPRA Paper 104234, University Library of Munich, Germany, revised 19 Nov 2020.
    8. Patrick Krieger & Carsten Lausberg, 2021. "Entscheidungen, Entscheidungsfindung und Entscheidungsunterstützung in der Immobilienwirtschaft: Eine systematische Literaturübersicht [Decisions, decision-making and decisions support systems in r," Zeitschrift für Immobilienökonomie (German Journal of Real Estate Research), Springer;Gesellschaft für Immobilienwirtschaftliche Forschung e. V., vol. 7(1), pages 1-33, April.
    9. Phélinas, Pascale & Choumert, Johanna, 2017. "Is GM Soybean Cultivation in Argentina Sustainable?," World Development, Elsevier, vol. 99(C), pages 452-462.
    10. Tezcan, Ahmet & Büyüktaş, Kenan & Akkaya Aslan, Şerife Tülin, 2020. "A multi-criteria model for land valuation in the land consolidation," Land Use Policy, Elsevier, vol. 95(C).
    11. Ritter, Matthias & Huttel, Silke & Odening, Martin & Seifert, Stefan, 2019. "Revisiting The Relationship Between Land Price And Parcel Size," 2019 Conference (63rd), February 12-15, 2019, Melbourne, Australia 285062, Australian Agricultural and Resource Economics Society (AARES).
    12. Tien Foo Sing & Jesse Jingye Yang & Shi Ming Yu, 2022. "Boosted Tree Ensembles for Artificial Intelligence Based Automated Valuation Models (AI-AVM)," The Journal of Real Estate Finance and Economics, Springer, vol. 65(4), pages 649-674, November.
    13. Rashed Saeed & Muhammad Asif Kamran & Muhammad Qasim & Sobia Naheed & Irfan Mahmood, 2022. "Determinants of Livestock Herd Size in Mixed Cropping Zone of Punjab-Pakistan," Journal of Economic Impact, Science Impact Publishers, vol. 4(1), pages 150-157.
    14. Wojciech Sroka & Michał Dudek & Tomasz Wojewodzic & Karol Król, 2019. "Generational Changes in Agriculture: The Influence of Farm Characteristics and Socio-Economic Factors," Agriculture, MDPI, vol. 9(12), pages 1-27, December.
    15. Maurizio d’Amato, 2007. "Comparing Rough Set Theory with Multiple Regression Analysis as Automated Valuation Methodologies," International Real Estate Review, Global Social Science Institute, vol. 10(2), pages 42-65.
    16. Khalid Haniza, 2015. "Spatial heterogeneity and spatial bias analyses in hedonic price models: some practical considerations," Bulletin of Geography. Socio-economic Series, Sciendo, vol. 28(28), pages 113-128, June.
    17. Boberg-Fazlić, Nina & Lampe, Markus & Sharp, Paul, 2024. "The sleeping giant who left for America: Danish land inequality and emigration during the age of mass migration," Explorations in Economic History, Elsevier, vol. 91(C).
    18. Leiva, Benjamin & Van Houtven, George & Vásquez, William F. & Nájera, Andrea, 2023. "Valuing water service reliability and in-home water storage: A hedonic price model from Guatemala," Utilities Policy, Elsevier, vol. 82(C).
    19. Riccardo, Borgoni & Alessandra, Michelangeli & Nicola, Pontarollo, 2016. "How Does a City Benefit from Culture? Evidence from Milan," Working Papers 335, University of Milano-Bicocca, Department of Economics, revised 16 May 2016.
    20. Wei-Bin Zhang, 2017. "Spatial Agglomeration And Economic Development With The Inclusion Of Interregional Tourism," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 62(213), pages 93-128, April - J.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:lauspo:v:75:y:2018:i:c:p:21-32. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joice Jiang (email available below). General contact details of provider: https://www.journals.elsevier.com/land-use-policy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.