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

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