Towards a 3D Real Estate Valuation Model Using BIM and GIS

Muhammed Oguzhan Mete; Dogus Guler; Tahsin Yomralioglu

doi:10.1007/978-3-030-94191-8_77

Towards a 3D Real Estate Valuation Model Using BIM and GIS

Muhammed Oguzhan Mete, Dogus Guler^*, Tahsin Yomralioglu

^*Corresponding author for this work

Department of Geomatics Engineering

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

9 Citations (Scopus)

Abstract

Real estate values are needed and used in many finance, engineering, and construction operations. It is significant to assess property values in a standard-based, objective manner. Utilizing Geographic Information Systems (GIS) and Building Information Modelling (BIM) technologies, real estate values can be assessed with three-dimensional (3D) geospatial and built environment analysis. In this study, criteria that affect real estate value are grouped as environmental, physical, legal, and socio-economic factors. Then, the Industry Foundation Classes (IFC)-based 3D property valuation model is designed. By proposing new property sets and properties, features and their attributes are mapped with entities and data types in the IFC schema to demonstrate the likely use of IFC data for property valuation. Conducting BIM&GIS analysis for both external and internal criteria, property values can be assessed by using the created holistic model. It is thus aimed to develop a valuation framework that can be used as a reference in several value-based applications such as property taxation, urban renewal, and land share calculation.

Original language	English
Title of host publication	Innovations in Smart Cities Applications - The Proceedings of the 6th International Conference on Smart City Applications
Editors	Mohamed Ben Ahmed, Anouar Abdelhakim Boudhir, Ismail Rakip Kara, Vipul Jain, Sehl Mellouli
Publisher	Springer Science and Business Media Deutschland GmbH
Pages	945-962
Number of pages	18
ISBN (Print)	9783030941901
DOIs	https://doi.org/10.1007/978-3-030-94191-8_77
Publication status	Published - 2022
Event	6th International Conference on Smart City Applications, SCA 2021 - Safranbolu, Turkey Duration: 27 Oct 2021 → 29 Oct 2021

Publication series

Name	Lecture Notes in Networks and Systems
Volume	393
ISSN (Print)	2367-3370
ISSN (Electronic)	2367-3389

Conference

Conference	6th International Conference on Smart City Applications, SCA 2021
Country/Territory	Turkey
City	Safranbolu
Period	27/10/21 → 29/10/21

Bibliographical note

Publisher Copyright:
© 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.

Keywords

3D valuation
BIM
GIS
IFC
Property valuation
Real estate valuation

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1007/978-3-030-94191-8_77

Cite this

Mete, M. O., Guler, D., & Yomralioglu, T. (2022). Towards a 3D Real Estate Valuation Model Using BIM and GIS. In M. B. Ahmed, A. A. Boudhir, I. R. Kara, V. Jain, & S. Mellouli (Eds.), Innovations in Smart Cities Applications - The Proceedings of the 6th International Conference on Smart City Applications (pp. 945-962). (Lecture Notes in Networks and Systems; Vol. 393). Springer Science and Business Media Deutschland GmbH. https://doi.org/10.1007/978-3-030-94191-8_77

Mete, Muhammed Oguzhan ; Guler, Dogus ; Yomralioglu, Tahsin. / Towards a 3D Real Estate Valuation Model Using BIM and GIS. Innovations in Smart Cities Applications - The Proceedings of the 6th International Conference on Smart City Applications. editor / Mohamed Ben Ahmed ; Anouar Abdelhakim Boudhir ; Ismail Rakip Kara ; Vipul Jain ; Sehl Mellouli. Springer Science and Business Media Deutschland GmbH, 2022. pp. 945-962 (Lecture Notes in Networks and Systems).

@inproceedings{d1832e738445461f887757eb7737e33f,

title = "Towards a 3D Real Estate Valuation Model Using BIM and GIS",

abstract = "Real estate values are needed and used in many finance, engineering, and construction operations. It is significant to assess property values in a standard-based, objective manner. Utilizing Geographic Information Systems (GIS) and Building Information Modelling (BIM) technologies, real estate values can be assessed with three-dimensional (3D) geospatial and built environment analysis. In this study, criteria that affect real estate value are grouped as environmental, physical, legal, and socio-economic factors. Then, the Industry Foundation Classes (IFC)-based 3D property valuation model is designed. By proposing new property sets and properties, features and their attributes are mapped with entities and data types in the IFC schema to demonstrate the likely use of IFC data for property valuation. Conducting BIM&GIS analysis for both external and internal criteria, property values can be assessed by using the created holistic model. It is thus aimed to develop a valuation framework that can be used as a reference in several value-based applications such as property taxation, urban renewal, and land share calculation.",

keywords = "3D valuation, BIM, GIS, IFC, Property valuation, Real estate valuation",

author = "Mete, {Muhammed Oguzhan} and Dogus Guler and Tahsin Yomralioglu",

note = "Publisher Copyright: {\textcopyright} 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.; 6th International Conference on Smart City Applications, SCA 2021 ; Conference date: 27-10-2021 Through 29-10-2021",

year = "2022",

doi = "10.1007/978-3-030-94191-8_77",

language = "English",

isbn = "9783030941901",

series = "Lecture Notes in Networks and Systems",

publisher = "Springer Science and Business Media Deutschland GmbH",

pages = "945--962",

editor = "Ahmed, {Mohamed Ben} and Boudhir, {Anouar Abdelhakim} and Kara, {Ismail Rakip} and Vipul Jain and Sehl Mellouli",

booktitle = "Innovations in Smart Cities Applications - The Proceedings of the 6th International Conference on Smart City Applications",

address = "Germany",

}

Mete, MO , Guler, D & Yomralioglu, T 2022, Towards a 3D Real Estate Valuation Model Using BIM and GIS. in MB Ahmed, AA Boudhir, IR Kara, V Jain & S Mellouli (eds), Innovations in Smart Cities Applications - The Proceedings of the 6th International Conference on Smart City Applications. Lecture Notes in Networks and Systems, vol. 393, Springer Science and Business Media Deutschland GmbH, pp. 945-962, 6th International Conference on Smart City Applications, SCA 2021, Safranbolu, Turkey, 27/10/21. https://doi.org/10.1007/978-3-030-94191-8_77

Towards a 3D Real Estate Valuation Model Using BIM and GIS. / Mete, Muhammed Oguzhan ; Guler, Dogus ; Yomralioglu, Tahsin.
Innovations in Smart Cities Applications - The Proceedings of the 6th International Conference on Smart City Applications. ed. / Mohamed Ben Ahmed; Anouar Abdelhakim Boudhir; Ismail Rakip Kara; Vipul Jain; Sehl Mellouli. Springer Science and Business Media Deutschland GmbH, 2022. p. 945-962 (Lecture Notes in Networks and Systems; Vol. 393).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - Towards a 3D Real Estate Valuation Model Using BIM and GIS

AU - Mete, Muhammed Oguzhan

AU - Guler, Dogus

AU - Yomralioglu, Tahsin

PY - 2022

Y1 - 2022

N2 - Real estate values are needed and used in many finance, engineering, and construction operations. It is significant to assess property values in a standard-based, objective manner. Utilizing Geographic Information Systems (GIS) and Building Information Modelling (BIM) technologies, real estate values can be assessed with three-dimensional (3D) geospatial and built environment analysis. In this study, criteria that affect real estate value are grouped as environmental, physical, legal, and socio-economic factors. Then, the Industry Foundation Classes (IFC)-based 3D property valuation model is designed. By proposing new property sets and properties, features and their attributes are mapped with entities and data types in the IFC schema to demonstrate the likely use of IFC data for property valuation. Conducting BIM&GIS analysis for both external and internal criteria, property values can be assessed by using the created holistic model. It is thus aimed to develop a valuation framework that can be used as a reference in several value-based applications such as property taxation, urban renewal, and land share calculation.

AB - Real estate values are needed and used in many finance, engineering, and construction operations. It is significant to assess property values in a standard-based, objective manner. Utilizing Geographic Information Systems (GIS) and Building Information Modelling (BIM) technologies, real estate values can be assessed with three-dimensional (3D) geospatial and built environment analysis. In this study, criteria that affect real estate value are grouped as environmental, physical, legal, and socio-economic factors. Then, the Industry Foundation Classes (IFC)-based 3D property valuation model is designed. By proposing new property sets and properties, features and their attributes are mapped with entities and data types in the IFC schema to demonstrate the likely use of IFC data for property valuation. Conducting BIM&GIS analysis for both external and internal criteria, property values can be assessed by using the created holistic model. It is thus aimed to develop a valuation framework that can be used as a reference in several value-based applications such as property taxation, urban renewal, and land share calculation.

KW - 3D valuation

KW - BIM

KW - GIS

KW - IFC

KW - Property valuation

KW - Real estate valuation

UR - http://www.scopus.com/inward/record.url?scp=85126341710&partnerID=8YFLogxK

U2 - 10.1007/978-3-030-94191-8_77

DO - 10.1007/978-3-030-94191-8_77

M3 - Conference contribution

AN - SCOPUS:85126341710

SN - 9783030941901

T3 - Lecture Notes in Networks and Systems

SP - 945

EP - 962

BT - Innovations in Smart Cities Applications - The Proceedings of the 6th International Conference on Smart City Applications

A2 - Ahmed, Mohamed Ben

A2 - Boudhir, Anouar Abdelhakim

A2 - Kara, Ismail Rakip

A2 - Jain, Vipul

A2 - Mellouli, Sehl

PB - Springer Science and Business Media Deutschland GmbH

T2 - 6th International Conference on Smart City Applications, SCA 2021

Y2 - 27 October 2021 through 29 October 2021

ER -

Mete MO , Guler D , Yomralioglu T. Towards a 3D Real Estate Valuation Model Using BIM and GIS. In Ahmed MB, Boudhir AA, Kara IR, Jain V, Mellouli S, editors, Innovations in Smart Cities Applications - The Proceedings of the 6th International Conference on Smart City Applications. Springer Science and Business Media Deutschland GmbH. 2022. p. 945-962. (Lecture Notes in Networks and Systems). doi: 10.1007/978-3-030-94191-8_77

Towards a 3D Real Estate Valuation Model Using BIM and GIS

Abstract

Publication series

Conference

Bibliographical note

Keywords

UN SDGs

Access to Document

Other files and links

Fingerprint

Cite this