Quotation Despotovic, Miroslav, Koch, David, Maier, Gunther, Zeppelzauer, Matthias. 2017. Image Analyses and Real Estate: Evaluation of the Quality of Location Using Remotely Sensed Imagery. European Real Estate Society, 24th European Conference, Delft, Niederlande, 28.06.-01.07.


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Abstract

A growing number of applied studies examine the impact of urban space quality on property price. Especially the planning and development of the immediate neighborhood (micro location) is an important influencing factor in regional economics. An image-based method for the estimation of location quality, in the context of property valuation, does not exist yet. We develop method for the determination of the quality of location using image processing, taking at the same time into account the classification in quality classes based on regional structural characteristics. With the help of automatic image analysis, a new information source is leveraged, which previously could not be taken into account within the scope of evaluation of location quality or within the scope of automated valuation models (e.g. hedonic models). In the field of image analysis, the extraction of parameters related to location quality is a new task. It is so far not clear to which degree meaningful parameters can be found autonomously by machine learning. This dissertation will investigate this question in detail and is to our knowledge the first approach for the automatic image-based valuation of location quality.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Paper presented at an academic conference or symposium
Language English
Title Image Analyses and Real Estate: Evaluation of the Quality of Location Using Remotely Sensed Imagery
Event European Real Estate Society, 24th European Conference
Year 2017
Date 28.06.-01.07.
Country Netherlands
Location Delft

Associations

People
Maier, Gunther (Details)
External
Despotovic, Miroslav (FH Kufstein, Austria)
Koch, David (FH Kufstein, Austria)
Zeppelzauer, Matthias (FH St. Pölten, Austria)
Organization
Institute for Multi-Level Governance and Development IN (Details)
Research Institute for Spatial and Real Estate Economics FI (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
1807 Economic geography (Details)
5329 Economics of location (Details)
5330 Site selection (Details)
5332 Transport economics (Details)
5606 Spatial research (Details)
5611 Urban and regional analysis (Details)
5612 Economics of location (Details)
5618 Regional economy (Details)
5702 Population statistics (Details)
5915 Economic geography (Details)
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