A GIS based Multicriteria decision analysis methodology for property valuations. Case study of Kiira Municipality.
Icodio, Arthur Paul
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Traditional valuation approaches used by valuers in Uganda are highly dependent on subjective judgment in the returned values. This has been cited as a major cause of value variability and disparities among valuers. In this study the traditional valuation methods mainly; Cost approach, Income approach and Market approach have been examined. Their strengths and weaknesses have been highlighted. The study attempts to offer solution through application of a GIS-based MCDA methodology. The advantage of using a GIS-based MCDA method is that it can model the relationship between the property market value and the value attributes. Due to the fact that property value factors are subjective, the study utilized the AHP method of MCDA in the analysis. Among advanced real estate valuation methods, AHP is different because it can assign points to each other and assess criteria groups (location, physical, and legal) affecting the value within themselves. As the structures, units, importance, and values of sub criteria within criteria groups are different from each other, weight points calculated by AHP provide homogeneity with respect to units and their effect on value. An analysis of the data was done in ArcGIS 10.7 software, better visualize the values using maps It was concluded that land values were more affected by their proximity to roads, schools and hospitals and, the values decrease with distance from these services A methodology was designed which involved firstly, determining the factors, weighting them, and using these weighted values to determine land values as opposed to traditional valuation methods which take block figures for particular areas and do not consider property attributes