Spatio-Temporal Analysis of the Real Estate Market Using Geographic Information Systems

Abstract

Abstract The paper proposes the use of geographic information system tools for the analysis of spatial and temporal aspects of the real estate market. In particular, it focuses on the graphical presentation of the spatial distribution of price and its variability over time. The possibility of presenting an image of the spatial distribution of prices in the form of a 3D model is studied. A topographic surface is proposed as an alternative to traditional methods of spatial interpolation. Visual verification and numerical comparison have shown its superiority over other previously used methods. The best method of presenting four-dimensional data - the variation in time of the spatial distribution of house prices - was sought. The possibility of taking time into account as one of the attributes of the analyzed and presented objects, available in advanced GIS software, was used for this purpose. The undertaken activities were based on formal guidelines for the registration of time set out in the ISO 19100 series of standards dedicated to geographic information. Potential sources of data for this kind of analysis were identified and their availability was examined. The paper also presents how to build a spatial database on the basis of the available information, which is a starting material for further analysis. The carried out research demonstrated the benefits of the spatial approach to trends of changes in real estate prices, which can be used, among others, for mass appraisal.