A GIS based system for minimizing acquisition risk in Real Estate property market
Many economists have identified the main cause of recent global real estate market crisis both in the poor diffusion of systems capable of monitoring the historical property values that in the lack of public awareness about the risks of real estate investments. This paper proposes a new approach to evaluate property acquisition’s risk that does not rely on a standardize appraisal indices analysis. The proposed Geographical Information System is able to investigate the historical variation of the main real estate market indicators and to let the final user appraise the general level of real estate investment risk. The subsequent sections of this paper will discuss about the real strength of the most common literature’s algorithms used to appraise risk in real estate, then it will be explained how inexpensive information technology applications can help to increase the diffusion of awareness related to real estate market conditions. Finally it will be discussed the case of study; conclusions and some considerations about future improvements will close the study.
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