An Investigation into the use of artificial intelligence in property valuations in Zambia

Christopher Mulenga and Joseph Phiri

AfRES from African Real Estate Society (AfRES)

Abstract: Real estate valuations, especially the case of mass valuation where statistical analysis methods are applied. New methods of determination of real estate value should be explored. Artificial omputerizat provides an alternative for the omputer applied method of multiple linear regressions. The omputerization of real estate values has been in existence since the 2000s with the consideration of various artificial intelligence techniques which include Artificial Neural Network, fuzzy logic, generic algorithm, and expert system. Since most properties comprise of both physical and economic characteristics which renders the conventional valuation methods cumbersome. In order to counter these challenges, soft computing techniques with higher data handling capabilities maybe an optimum choice.

Keywords: Artificial Intelligence; Fuzzy Logic; multiple regressions; statistical techniques (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2023-01-01
New Economics Papers: this item is included in nep-ain, nep-big and nep-ure
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