Scientific Journal of Riga Technical University
Economics and Business. Economy: Theory and Practice
___________________________________________________________________________________ Volume 20
GIS Application in Real Estate Investment
Andrea Podor, University of West Hungary, Faculty of Geoinformatics Judit Nyiri, University of West Hungary, Faculty of Geoinformatics
Abstract. The profession of real estate investment contains the activity of facility management, consultancy, expertise and
planning. The professionals of real estate industries are engineers, lawyers, economist, environmentalists, etc. For the successful fulfilment of the different tasks it is essential to make data acquisition, create a decision support system. During the decision support especially in those cases when we have spatial data, the GIS can give an indispensable assistance. In the development process of real estate a kind of synergy occurs while we integrate several data bases and different knowledge which can lead us to more effective decisions and information. The decision support model contains the requirements raised by different speciality against real estate development. In the article we outline the above mentioned facts with the help of different examples.
Keywords: GIS, Spatial Decision
management, Real Estate Investment
In the real estate investment market also some global
tendencies has been occurred recently which can give GIS -as the tool for the management of spatial data - a chance to help experts in their everyday work. General tendency in real estate market is globalization, which means that global multinational companies appeared with the motto: “Think global, act local”. It is also observable that in one project more investors are interested. In these sequence we ought to mention that Giga
projects are appeared and in one project there are many
functions are available. Another interesting tendency is the so called network expansion which means sets of real estates with equal qualities with one decision head quarter with uniform
facility management system etc. Another indispensable
tendency is the revolution of communication. (internet, open databases etc) [3,4]. Because of the globalization of the real estate market it is essential to make decisions as soon as
possible. In this process a decision support system aided by GIS can shorten and enhance the quality of decisions.
II. THE MODEL OF REAL ESTATE INVESTMENT
In the process of real estate investment modelling has a very important role. We can differentiate three kind of model:
1. Process model
2. Market model
3. Value model.
The process model can be divided into 11 different phase:
1. Real estate register
5. Building, construction
6. Utilization and management
7. Real estate sale
10. Information flow
11. Validation of interests
In our study from these sequence we examine the phase of
real estate investment. From the aspect of the real estate
investment there are several process where GIS can be
Actually the value of the real estate is determined by three groups of factors, more specifically:
1. a location
2. position within the building
3. and the technical conditions, internal structure of the real estate. [6,7]
In the process of the real estate investment we should take
into consideration of the interest of the investors. Their
intentions define the main aspects of the investments (see
detailed in the V. section).
The important factors for the investors are:
• the quality of the assets;
• the compound of the tenants;
• the period of the lease;
• the conditions of the contracts;
• the real rental fee;
• the costs of facility management;
III. LOCATION AS A KEY CONCEPT IN REAL ESTATE INVESTMENTS
The theoretical basis for the location analyses is taking into...
References: 2. EVS (European Valuation Standards, 2003. MAISZ-FÜTI Omega,
3. Berdár, B, Nyiri, J.:Az ingatlanértékelés gyakorlata Magyarországon,
Főiskolai jegyzet, NymE Geoiformatikai Kar, Székesfehérvár, 2000.
Közép-Európai Egyetem, Budapest, 2004.
5. Berdár, B.: Külföldi befektetők döntési szempontjai. Kézirat, Budapest,
6. Berdár, B.: Befektetési ismeretek, FÜTI-Omega, Budapest, 2006.
OPEN Conference, Székesfehérvár, 2010.
15. Tilk, L.G.:Ingatlaninformatika. www.ingatlaninformatika.info., Budapest,
Andrea Pődör is a cartographer M.Sc.(1995),
Ph.D.(2002), associate professor at the University of
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