p a t r i m o n i a l d o c u m e n t a t i o n federal public service finance workshop on automated...
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Federal Public Service FINANCE
Workshop on automated valuation models Workshop on automated valuation models of real state for cadastral purposesof real state for cadastral purposes
Santiago de Compostela (Spain) October 19-20, 2006
Francis GABELE
Pierrette FRAISSE
Automated Valuation Models
in Belgium
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Federal Public Service FINANCE
Workshop on automated valuation models Workshop on automated valuation models of real state for cadastral purposesof real state for cadastral purposes
Santiago de Compostela (Spain) October 19-20, 2006
Francis GABELE
Pierrette FRAISSE
General valuation procedure with respect to the cadastral incomes : base 1975
Segmentation of the market of renting and diversified rents
Localisation – age – living space – comfort
Construction code 14 terms
General characteristics
Facilities
Consistency
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Federal Public Service FINANCE
Workshop on automated valuation models Workshop on automated valuation models of real state for cadastral purposesof real state for cadastral purposes
Santiago de Compostela (Spain) October 19-20, 2006
Francis GABELE
Pierrette FRAISSE
040 / A / 01 / Y / 1950 / 85 L / 001 / Y / 002
001 / 0007 / 00100 / 00150
2 Type of
construction
3 Number of
floors
4 Habitable
attic
5 Year of end
of construction
6 Year of last
physical change
10 Number of bathrooms
9 Central heating
Useful surface
14
Surface area 13
Number of living rooms
12
Number of separate
housing units 11
8 Number of
garages
7 Quality of
the construction
1 Class index
The Construction code can be schematically represented as follows:
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Federal Public Service FINANCE
Workshop on automated valuation models Workshop on automated valuation models of real state for cadastral purposesof real state for cadastral purposes
Santiago de Compostela (Spain) October 19-20, 2006
Francis GABELE
Pierrette FRAISSE
Building’s value : presence or absence of particular
characteristics in comparison with the sample.
The monetary value of a building cannot diminish when the
living space increases.
The deviation between the monetary value of the building, which
has been calculated, and the corresponding actual prices are, as a
rule, distributed around a zero average.
Statistic tools
• Pearson’s test
• a test comparing the average of the sample and the average of the population
Necessity to have a more elaborate code : intrinsic
characteristics
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Federal Public Service FINANCE
Workshop on automated valuation models Workshop on automated valuation models of real state for cadastral purposesof real state for cadastral purposes
Santiago de Compostela (Spain) October 19-20, 2006
Francis GABELE
Pierrette FRAISSE
Building code 62 terms :• nature : house, warehouse,…
• constituent elements : year, floors,…
• structure : façades, woodwork,…
• completion : floor, walls, ceilings,…
• equipment : bathroom installations, central heating,…
• facilities : pool, tennis,…
• environment : objective judgement
• particularities : listing
• signature : date, name of the expert
• surfaces : habitable, non habitable,…
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Federal Public Service FINANCE
Workshop on automated valuation models Workshop on automated valuation models of real state for cadastral purposesof real state for cadastral purposes
Santiago de Compostela (Spain) October 19-20, 2006
Francis GABELE
Pierrette FRAISSE
Redistribution of the tasks : construction price,
monetary value
Extraction ECL : registration file coupled together with
the cadastral matrix.
Statistic analysis with multiple regression
Profit and characteristics of the goods
Structural variables : number of rooms, surface,
comfort
Localization : transport facilities and accessibility,
quality of the neighbourhood
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T A
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Federal Public Service FINANCE
Workshop on automated valuation models Workshop on automated valuation models of real state for cadastral purposesof real state for cadastral purposes
Santiago de Compostela (Spain) October 19-20, 2006
Francis GABELE
Pierrette FRAISSE
Multiple regression : link price / different characteristics
Independent variables :
• certain terms of the construction code
• operation date in relation to the reference date of the model
• cadastral division of the municipality
• surface of open sites (the parcel)
Dependent variable : operation price
ECL extraction : buildings most similar /appropriate localization
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