Geostatistical methodologies applied to unit land valuation
Description
This project designed a model for estimating land values from transaction samples and spatial variables. A combination of generative modelling and spatial estimation with Ensemble Spatial Intepolation - ESI was used. Estimates were made for dozens of communes in mainland Chile and compared with the official valuations made by the SII. The results were very accurate and allow contemplating the use of this methodology for automatic mass appraisals.
Principal Researchers: Álvaro Egaña, Gonzalo Díaz. Participating Researchers: Felipe Navarro, Alejandro Ehrenfeld, Felipe Garrido, Pedro Carmona.
Fund/Partner: Servicio de Impuestos Internos de Chile - SII