IDEAS home Printed from https://ideas.repec.org/a/eee/lauspo/v75y2018icp21-32.html

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

    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. 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).
    3. 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.
    4. 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.
    5. 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.
    6. 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.
    7. 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.
    8. Choumert, Johanna & Phélinas, Pascale, 2015. "Determinants of agricultural land values in Argentina," Ecological Economics, Elsevier, vol. 110(C), pages 134-140.
    9. 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.
    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. 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.
    3. 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).
    4. 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).
    5. 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).
    6. 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).
    7. Ziyi Xie & Siying Wu & Xin Liu & Hejia Shi & Mintong Hao & Weiwei Zhao & Xin Fu & Yepeng Liu, 2025. "Land Consolidation Potential Assessment by Using the Production–Living–Ecological Space Framework in the Guanzhong Plain, China," Sustainability, MDPI, vol. 17(15), pages 1-34, July.
    8. 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.
    9. 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).
    10. 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).
    11. Ertunç, Ela & Uyan, Mevlut, 2022. "Land valuation with Best Worst Method in land consolidation projects," Land Use Policy, Elsevier, vol. 122(C).
    12. Debrunner, Gabriela & Kaufmann, David, 2023. "Land valuation in densifying cities: The negotiation process between institutional landowners and municipal planning authorities," Land Use Policy, Elsevier, vol. 132(C).
    13. Basista, Izabela & Balawejder, Monika, 2020. "Assessment of selected land consolidation in south-eastern Poland," Land Use Policy, Elsevier, vol. 99(C).
    14. 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).
    15. 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).
    16. 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.
    17. 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.
    18. 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.
    19. 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.
    20. Brano Glumac & Francois Des Rosiers, 2018. "Real estate and land property automated valuations systems: a taxonomy and conceptual model," ERES eres2018_148, European Real Estate Society (ERES).
    21. 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.
    22. Glumac, Brano & Herrera-Gomez, Marcos & Licheron, Julien, 2019. "A hedonic urban land price index," Land Use Policy, Elsevier, vol. 81(C), pages 802-812.
    23. 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. 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).
    2. Demetriou, Demetris, 2016. "The assessment of land valuation in land consolidation schemes: The need for a new land valuation framework," Land Use Policy, Elsevier, vol. 54(C), pages 487-498.
    3. 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.
    4. 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).
    5. Christopher Ragan, 2005. "The Exchange Rate and Canadian Inflation Targeting," Staff Working Papers 05-34, Bank of Canada.
    6. 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.
    7. Patrick Krieger & Carsten Lausberg, 2021. "Entscheidungen, Entscheidungsfindung und Entscheidungsunterstützung in der Immobilienwirtschaft: Eine systematische Literaturübersicht [Decisions, decision-making and decisions support systems in real estate: a systematic literature review]," Zeitschrift für Immobilienökonomie (German Journal of Real Estate Research), Springer;Gesellschaft für Immobilienwirtschaftliche Forschung e. V., vol. 7(1), pages 1-33, April.
    8. Phélinas, Pascale & Choumert, Johanna, 2017. "Is GM Soybean Cultivation in Argentina Sustainable?," World Development, Elsevier, vol. 99(C), pages 452-462.
    9. 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).
    10. 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.
    11. 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.
    12. 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.
    13. 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).
    14. Yigong Hu & Binbin Lu & Yong Ge & Guanpeng Dong, 2022. "Uncovering spatial heterogeneity in real estate prices via combined hierarchical linear model and geographically weighted regression," Environment and Planning B, , vol. 49(6), pages 1715-1740, July.
    15. Marcelo Caffera & Felipe Vásquez Lavín & Manuel Barrientos & Daniel Rodríguez Anza & Leonidas Carrasco‐Letelier, 2024. "The implicit market price of soil erosion: An estimation using a hedonic model with spatial spillovers," Agricultural Economics, International Association of Agricultural Economists, vol. 55(6), pages 963-984, November.
    16. Jose Torres-Pruñonosa & Pablo García-Estévez & Josep Maria Raya & Camilo Prado-Román, 2022. "How on Earth Did Spanish Banking Sell the Housing Stock?," SAGE Open, , vol. 12(1), pages 21582440221, March.
    17. Zhiling Guo & Gary J. Koehler & Andrew B. Whinston, 2012. "A Computational Analysis of Bundle Trading Markets Design for Distributed Resource Allocation," Information Systems Research, INFORMS, vol. 23(3-part-1), pages 823-843, September.
    18. Chris Jacobs-Crisioni & Vasco Diogo & Carolina Perpina Castillo & Claudia Baranzelli & Filipe Batista e Silva & Konstantin Rosina & Boyan Kavalov & Carlo Lavalle, 2017. "The LUISA Territorial Reference Scenario 2017: A technical description," JRC Research Reports JRC108163, Joint Research Centre.
    19. Mariusz Dacko & Tomasz Wojewodzic & Jacek Pijanowski & Jarosław Taszakowski & Aneta Dacko & Jarosław Janus, 2021. "Increase in the Value of Agricultural Parcels—Modelling and Simulation of the Effects of Land Consolidation Project," Agriculture, MDPI, vol. 11(5), pages 1-14, April.
    20. Yu-Hui Chen & Chun-Lin Lee & Guan-Rui Chen & Chiung-Hsin Wang & Ya-Hui Chen, 2018. "Factors Causing Farmland Price-Value Distortion and Their Implications for Peri-Urban Growth Management," Sustainability, MDPI, vol. 10(8), pages 1-18, August.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    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.