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Commercial Real Estate Valuation Based on Modern Technology Solutions: Case Study in Helsinki, Finland
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management.
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management.
2019 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesisAlternative title
Kommersiell fastighetsvärdering baserat på moderna tekniska lösningar : Fallstudie i Helsingfors, Finland (Swedish)
Abstract [en]

The current state of global economy and modern technology have emerged questionsregarding the existing property valuation methods. The development of new and moredata-oriented methods has come a necessity to cope with the huge amount of dataneeded in order to compute property valuations. Furthermore, this has raised a need todevelop and study the methods which modern technology can provide to enhanceproperty valuation.The transparency has been acknowledged to be one important factor for theenhancement of the property valuation and the attractiveness of the market. Furthermore,the object of this study was to investigate the transparency of Helsinki real estate marketand further evaluate to what extent the property valuations can be performed with thedata available in the various sources. Additionally, to the quantitative results, the studyevaluates the advantages and disadvantages of property valuation done by utilizing GIStool compared to the traditional valuation methods.To answer the questions a comprehensive literature review was conducted. Based on theprevious literature, the study was implemented by assessing four properties which wererecently transacted with the information available. The quantitative results were comparedto the transaction prices. Additionally, the process was evaluated by comparing it to moretraditional method of conducting property valuation. The conclusions were that GIS toolstogether with aggregated datasets provide a great foundation for property valuation bymitigating biases and making the process more efficient.

Abstract [sv]

Med den nuvarande globala ekonomin situation samt med dagens moderna teknik harfrågor om befintliga fastighets värderingsmetoder ifrågasatts. Utvecklingen av nya ochmer dataorienterade metoder har blivit allt mer nödvändiga för att kunna klara av ochanvända sig av den enorma mängd data som finns tillgänglig för fastighetsvärdering.Detta har i sin tur ökat behovet av att vidareutbilda och vidareutveckla metoderna samtteknikerna som kan förbättra fastighetsvärderingen.Transparens har erkänts vara en vital faktor för att förbättra fastighetsvärderingen ochöka marknadens attraktivitet. Syftet med denna undersökning är att undersökatransparensen på fastighetsmarknad i Helsingfors och vidare bedöma till vilken gradfastighetsvärderingar kan utföras, baserat enbart på data och modern teknik som finnstillgänglig för allmänheten. Förutom de kvantitativa resultaten utvärderar studien ocksåfördelarna och nackdelarna med att använda sig av modern teknik (GIS) jämfört med demer traditionella värderingsmetoderna.För att kunna svara på frågorna genomfördes en omfattande litteraturöversikt. Baseratpå litteraturöversikten analyserades processen på fyra olika fastigheter som nyligenavyttrats. De kvantitativa resultaten jämfördes sedan med de fyra fastigheternastransaktionspriser. Slutsatsen var att GIS-verktyg tillsammans med den aggregeradedata gav en bra grund för fastighetsvärdering genom en minskad risk för partiskhetsamt en effektiv översiktsbild av marknaden.

Place, publisher, year, edition, pages
2019. , p. 98
Series
TRITA-ABE-MBT ; 19242
Keywords [en]
Real estate valuation, Property valuation, Commercial property, DCF real estate, Property appraisal, Transparency, Big data real estate, GIS real estate, GIS commercial property, DSS real estate, Real estate information technology
Keywords [sv]
Real estate valuation, Property valuation, Commercial property, DCF real estate, Property appraisal, Transparency, Big data real estate, GIS real estate, GIS commercial property, DSS real estate, Real estate information technology
National Category
Engineering and Technology
Identifiers
URN: urn:nbn:se:kth:diva-254820OAI: oai:DiVA.org:kth-254820DiVA, id: diva2:1335470
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Available from: 2019-08-13 Created: 2019-07-05 Last updated: 2019-09-25Bibliographically approved

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