Search

We provide a novel algorithm, called Valuto, for the fair valuation of real estate market values. The algorithm is based on the selling prices (or adjusted asking prices) of properties located in well-defined areas (microzones) of a territory. The algorithm takes into consideration the peculiar features of each individual property (cadastral typology, maintenance, presence or absence of an elevator, floor level, energy efficiency rating, gross and conventional surface area) and, based on well-defined conversion tables, recalculates its value. The algorithm could serve a variety of purposes in social applications, from the long sought-after land registry reform to a fair valuation of mortgaged properties. It also has an appealing marketable potential for real estate instant-buyers. In this paper, we describe the full implementation of the algorithm and provide guidelines on its application to the above-mentioned scopes. The algorithm is implemented via a user-friendly, testable web application at www.valuto.org.

Copyright of Valori e Valutazioni is the property of Societa Italiana di Estimo e Valutazione (SIEV) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)