An analytic model proposal for property valuation; a case study of Gaziantep

Nowdays the rapid urban development and change encountered these days have showed it's effect on real estates with the conversion of rural areas into urban areas. Every conversion performed on real estates, every constructions, and adjustments such as add-on, production, overhaul, qualities reapr, etc. have caused value variability. The physical positional advantages and legal status of a real estate along with it is intended use need to be known while the value of the real estate is determined. In the study, the criteria that have effect on the value of the real estate formed by being compiled from the data collected in the literatüre search are aimed to prioritization according to the order of importance. In this context, Analatical Hierarchy Process, the most suitable for the nature of the problem in the study and frequently used in lost of scientific study among the methods based on the pairwise comparison of factors which can be expressed in both oral and numerical values, is used. The data which are collected by the real estate appraisers accepted as experts in the field of real estate, the urban planners, the architects, the geomatic engineers and the construction engineers, have been converted to decision problem by means of analytical hierarchy method, pairwise comparison matrices have been formed and they have been converted to meaningful numenic data by making an analysis of consistory.The basic criteria affecting real estate value have been identified as terrain features, environmental factors and socio-economic factors. In consequence of the study, environmental factors are the most important factors identifying real estate value. At the second stoge of the study, the identified criteria have been evalvated an the basis of three real estates located in Gaziantep city baundary and comparative analyses have been made. In the order of priority of criteria, arisen in the study and affecting real estate value, it has been determined that environmental quality is in the first rank, security is in the second rank and distance from the city centre is in the third rank.