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Proceedings Paper

A GIS-based hedonic price model for agricultural land
Author(s): Demetris Demetriou
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Paper Abstract

Land consolidation is a very effective land management planning approach that aims towards rural/agricultural sustainable development. Land reallocation which involves land tenure restructuring is the most important, complex and time consuming component of land consolidation. Land reallocation relies on land valuation since its fundamental principle provides that after consolidation, each landowner shall be granted a property of an aggregate value that is approximately the same as the value of the property owned prior to consolidation. Therefore, land value is the crucial factor for the land reallocation process and hence for the success and acceptance of the final land consolidation plan. Land valuation is a process of assigning values to all parcels (and its contents) and it is usually carried out by an ad-hoc committee. However, the process faces some problems such as it is time consuming hence costly, outcomes may present inconsistency since it is carried out manually and empirically without employing systematic analytical tools and in particular spatial analysis tools and techniques such as statistical/mathematical. A solution to these problems can be the employment of mass appraisal land valuation methods using automated valuation models (AVM) based on international standards. In this context, this paper presents a spatial based linear hedonic price model which has been developed and tested in a case study land consolidation area in Cyprus. Results showed that the AVM is capable to produce acceptable in terms of accuracy and reliability land values and to reduce time hence cost required by around 80%.

Paper Details

Date Published: 19 June 2015
PDF: 9 pages
Proc. SPIE 9535, Third International Conference on Remote Sensing and Geoinformation of the Environment (RSCy2015), 95350B (19 June 2015); doi: 10.1117/12.2192498
Show Author Affiliations
Demetris Demetriou, Univ. of Leeds (United Kingdom)
Land Consolidation Dept. (Cyprus)

Published in SPIE Proceedings Vol. 9535:
Third International Conference on Remote Sensing and Geoinformation of the Environment (RSCy2015)
Diofantos G. Hadjimitsis; Kyriacos Themistocleous; Silas Michaelides; Giorgos Papadavid, Editor(s)

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