Digital innovation and Real estate appraisal

Agostino Valier and Ezio Micelli

ERES from European Real Estate Society (ERES)

Abstract: This research reviews the existing literature on the use of digital innovation in real estate valuation, focusing on three aspects.First, it analyses the factors that make the use of digital innovation increasingly relevant in the real estate sector and, more specifically, in the evaluation phase of assets. The need for innovation in the real estate market is highlighted, as the demand from investors for fast, reliable and objective appraisals.The second part reports the literature on digital innovations applied to valuation models, distinguishing between forecasting models for future market trends and assets-specific automated valuation models. This section focuses on the impact that new models have on the currently used approaches for value assessment.Third, the use of digital-based valuation models is investigated by analysing the context conditions. The review analyses the literature that correlates the reliability of the new models and the conditions of the real estate market in which they are used, especially in terms of information efficiency. Finally, the conclusions summarise the limits and potential of digital innovation in the field of valuation. Future directions are then identified.

Keywords: Automated Valuation Models; Big data; Digital innovation; Forecasting analysis; proptech (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2019-01-01
New Economics Papers: this item is included in nep-big, nep-ict, nep-pay and nep-ure
References: Add references at CitEc
Citations:

Downloads: (external link)
https://eres.architexturez.net/doc/oai-eres-id-eres2019-320 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2019_320

Access Statistics for this paper

More papers in ERES from European Real Estate Society (ERES) Contact information at EDIRC.
Bibliographic data for series maintained by Architexturez Imprints ().