Application Of Geographic Information System In Property Valuation
Stephen Wakaba Gatheru, David Nyika
Keywords: accessibility to bypass, accessibility to primary school, Geographic Information System, Hedonic Pricing Model, land size, valuation
ABSTRACT: The purpose of this study was to investigate the application of Geographic Information System (GIS) in property valuation. The study adopted descriptive research design to investigate the relationship between value of land and the factors influencing it. A population of 400 land parcels was used with a sample size of 100 parcels of land. Data collection was done by use of questionnaires. A multivariate regression model was used to link the independent variables to the dependent variable. The resultant Hedonic Pricing Model (HPM) indicated that the value of land can be predicted by using the following key attributes; land size, accessibility to bypass, accessibility to primary school. Results also showed that Hedonic Pricing Model is objective and verifiable and hence an ideal method of valuation.GIS technique has proved to be a powerful tool in ensuring that a geodatabase of all the attributes of each parcel of land is stored and retrievable at the clique of a button. The valuation map that was produced enables quick decision making, as all the values of each parcel are displayed graphically. It is recommended that the HRM and GIS be used to do property valuation.
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