Optimal spatial decision making using GIS: a prototype of a real estate geographical information system (REGIS)

Abstract

In the real estate business, it is a common understanding that the value and potential of a property are fundamentally determined by its location. This emphasises the significance of spatial factors in decision making in real estate. A geographical information system (GIS) is undoubtedly useful in this decision making. This paper reports on the development of a prototype real estate GIS (REGIS) by integrating fuzzy set (FZ) theory, a rule-based system (RBS) and GIS. The role of this system in the real estate business is in assisting decision makers for sellers and buyers, as well as property managers. For real estate agencies, the system can be used as an aid to selling and managing properties. For the buyers, the REGIS can function as a consultant in their decision making in purchasing properties. Methodologies are demonstrated using case studies. Developed as a generic tool with capabilities to deal with uncertainties, this prototype REGIS can also be applied to other fields, which involves optimal spatial decision making.

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