Asset Details
Do you wish to reserve the book?
Development of an Innovative Land Valuation Model (iLVM) for Mass Appraisal Application in Sub-Urban Areas Using AHP: An Integration of Theoretical and Practical Approaches
Hey, we have placed the reservation for you!
By the way, why not check out events that you can attend while you pick your title.
Oops! Something went wrong.
Looks like we were not able to place the reservation. Kindly try again later.
Are you sure you want to remove the book from the shelf?
Development of an Innovative Land Valuation Model (iLVM) for Mass Appraisal Application in Sub-Urban Areas Using AHP: An Integration of Theoretical and Practical Approaches
Do you wish to request the book?
Development of an Innovative Land Valuation Model (iLVM) for Mass Appraisal Application in Sub-Urban Areas Using AHP: An Integration of Theoretical and Practical Approaches
Please be aware that the book you have requested cannot be checked out. If you would like to checkout this book, you can reserve another copy
We have requested the book for you!
Your request is successful and it will be processed during the Library working hours. Please check the status of your request in My Requests.
Oops! Something went wrong.
Looks like we were not able to place your request. Kindly try again later.
Journal Article
Development of an Innovative Land Valuation Model (iLVM) for Mass Appraisal Application in Sub-Urban Areas Using AHP: An Integration of Theoretical and Practical Approaches
2019
Overview
Land development in sub-urban areas is more frequent than in highly urbanized cities, causing land prices to increase abruptly and making it harder for valuers to update land values in timely manner. Apart from this, the non-availability of sufficient reliable market values forces valuers to use alternatives and subjective judgement. Land value is critical not only for private individuals but also for government agencies in their day-to-day land dealings. Thus, mass appraisal is necessary. In other words, despite the importance of reliable land value in all aspects of land administration, valuation remains disorganized, with unregulated undertakings that lack concrete scientific, legal, and practical foundations. A holistic and objective way of weighing geospatial factors through expert consultation, legal reviews, and evidence (i.e., news) will provide more realistic results than a regression-based method that does not comprehend valuation factors (i.e., physical, social, economic, environmental, and legal aspects). The analytic hierarchy process (AHP) enables these factors to be included in the model, hence providing a realistic result. The innovative land valuation model (iLVM), developed in this study, is an inclusive approach wherein experts are involved in the selection and weighing of 15 factors through the AHP. The model was validated using root mean squared error (RMSE) and compared with multiple regression analysis (MRA) through a case study in Baybay City, Philippines. Based on the results, the iLVM (RMSE = 0.526) outperformed MRA (RMSE = 1.953).
Publisher
MDPI AG
