FIG Commission 9
- Valuation and the Management of Real Estate
News
“To embrace the new era of valuation”
On behalf of the Scientific & Organizing Board: Peter Ache,
Małgorzata Renigier-Biłozor, Artur Janowski, and Thomas Dimopoulos,
we are pleased to report the successful completion of our Second
Global Online Seminar titled "Enhancing Property Valuation with AI:
Insights from Nicosia's Apartment Market."
As a follow-up to the highly successful Presence Workshop held in
Cyprus during spring 2024, the second 60-Minutes-Knowledge-Meeting
on AVM (Automated Valuation Modelling) took place. Enthusiasts of
data modeling and AVM from 46 countries across Europe, Africa, the
Americas, and Asia participated, bringing together a diverse array
of experts, including academics, business professionals,
practitioners, and policymakers. The attendees included university
professors, researchers, valuers, and industry leaders who shared
their expertise in areas such as real estate valuation, geodesy,
cadastral systems, and advanced property management. The
participants gathered to hear from Thomas Dimopoulos, a
distinguished expert from Pafos, Cyprus.
The seminar was held on 24 September 2024 at 14:30 CET. Esteemed
researcher and valuer, Thomas Dimopoulos, delivered a highly
engaging presentation that covered various aspects of utilizing AI
and mathematical models in property valuation. Key topics discussed
included Artificial Intelligence Algorithms, Mathematical Models,
Outliers, and the training and testing of models.
SURVEY: Real Estate Market Transparency
Research Survey
FIG Commission 9 and its partners encourages you to help them and
fill in the survey. If you cannot fill in the survey, maybe you can
help us and forward it to others.
Help us and fill in the survey
Online Workshop: Transparency on Real Estate
Markets with the help of AVM
in April this year we had a wonderful and fruitful present
workshop on AVM and Artificial Intelligence in Valuation in Pafos,
Cyprus. There we discussed the continuation of these topics in
regular online workshops.
The kick-off workshop on the General Theme "Transparency on Real
Estate Markets with the help of AVM" is now ready for take-off.
Date/Time: 20.06.2024, at 3 pm CET. Theme: "Basics of Modelling in AVM" Deadline for registration: 15 June 2024 Language: English Costs: Participation in this episode is free of
charge
The speaker in this episode is the renowned researcher and
property market analyst RUSS THIMGAN (USA). Russ Thimgan has
extensive experience in the field of behavioural economics in
combination with data analysis in the real estate market. He
integrates behavioural economics approaches into his work, which is
based on more than thirty years of experience in mass property
valuation, primarily for tax valuations. Thimgan has made
significant contributions to IAAO (International Association of
Assessing Officers, based in the USA) textbooks and is currently a
member of the IAAO Research and Standards Committee. He has taught
mass appraisal courses through Thimgan & Associates since 1997 and
consults with government agencies in 42 US states as well as Canada,
Latvia and Serbia.
Thimgan develops comprehensive plans for mass appraisal
implementation, ranging from data collection to property market
information modelling techniques to public relations strategies. He
regularly aims to establish institutional processes down to the
local level.
In this short seminar on "Modelling in AVM", topics ranging from
linear regression methods to the random forest method will be
discussed. The focus will be on data preparation, identifying
influences, the importance of training and testing data sets,
determining the performance of models and measuring the effects of
influencing variables on the predictor.
FIG Working Week 2023 took place
28 May - 1 june 2023 in Orlando, Florida.
Commission
9 had organised severaly sessions in the
tehcnical programme and held its annual meeting
during the conference days. At the General Assembly
the Work plans of all commissions were presented
Read about:
The virtual meeting of the members of Commission 9
on 24.09.2021
The FIG Congresses and Working Weeks in the next
years
The Comm. 9 topics at the FIG Congress in Warsaw
from 11-15 September 2022.
The General Assembly
elected Mr. Peter Ache
from Germany, DVW, as
the Chair Elect of Commission 9, the elected Chair Elect
term as the Chair of the Commission will be initiated at the
FIG Congress 2022 for the period 2023-2026.
Article: Key Global and Technology Drivers Impacting Surveying
February 2021
The article was published in GIM International. As the FIG commission chairs
are near the halfway point in their
terms, they reflect on the global and technological drivers
influencing their work. This article describes the breadth of work
across the FIG commissions as well as the common areas. The
discussion is also informed by global reports such as the UN-GGIM’s
Future Trends in Geospatial Information Management and the RICS
Futures Report 2020.
Enjoy the article
FIG Working (from home) Week 2020 -
Proceedings
May 2020
During the conference days a range of articles
highlighting the hot-topics, the ground breaking
research, and the hidden gems in the proceedings was
published.
There were 3 technical sessions planed and a
major initiative to contribute to a UN Habitat
project focused on attempting to develop a manual
and due diligence protocol for the ‘Valuation of
Unregistered Lands and Informal Property’.
Read the article.
It is with deep sadness and heavy hearts that we
announce the cancellation of this year’s FIG Working
Week in Amsterdam due 10-14 May.
This is not a decision we have taken lightly and there are two
overriding concerns that have caused us to make this decision at this
time.
First, the Dutch Government announced new measurements to control the
COVID-19 outbreak. In the Netherlands all gatherings are prohibited until
1 June.
Second, our primary concern is always the wellbeing of you, and we
would not take on the responsibility, during these times, to bring so many
surveyors from all over the world together.
The theme Smart Surveyors for Land and
Water Management is both relevant in a
world where drinking water is a scarce resource,
waste water needs to be recycled rather than seen as
waste, where the sea needs to be better mapped and
managed, where land resources need to be protected
against sea-level rise, and where land-based fresh
water habitats are threatened.
The Working Week took place in Hanoi, Vietnam
22-26 April 2019. Commission 9 held its yearly meeting and was
involved in several sessions covering the commission 9 areas.
The commission 9 Newsletter include activities that FIG
Commission 9 has been involved in from second half of 2017 to
June 2018, incl commission 9 at FIG Congress 2018 in Istanbul,
Turkey.
Working Group 9.2 - Valuation and Real estate management
through Fin-tech focuses on fourth generation technologies used
by the World Bank’s approach to land engagement. Blockchain
technology has been hailed by custodians as being the future of
the real estate management industry with potential to streamline
processes such as land and property registration, valuation of
property and many more digital actions. This could increase
efficiency throughout the operation of land markets, impacting
both both public and private purposes.
FIG has been appointed one of the five Liaison Organisations
to ISO TC 307 on blockchains and distributed ledger technologies
(DLTs).
The Commission 9 Newsletter includes report from FIG Working
Week 2017, an update on upcoming and past events and on the
Working Groups of commission 9:
Commission chairs 2015-2018 at their meeting during the FIG
Working Week, 29 May-2 June in Helsinki, Finland: Remy Boudon(comm. 6) Volker
Schwieger (comm. 5), See Lian ONG (comm. 10), Angela Etuonovbe
(comm. 4), Steven Nystrom (comm. 9), Kwame Tenadu (comm. 8),
Enrico Rispoli (comm. 3), Gerda Schennach (comm. 7), Fahria Masum(comm. 2), Brian J.
Coutts (comm. 1)
Questionnaire: ISO LADM based international information model for
property valuation
This questionnaire that has been developed by representatives from
Commission 7 and 9 who are seeking input regarding the LADM expansion
module. This is an ongoing research which aims at developing a LADM
based international information model for property valuation, namely an
ISO LADM Valuation Module for the specification of registries used in
immovable property valuation.
Working Group 9.2 has been changed. The new Work Group is called:
Valuation and Real estate management through Fin-tech.
This working group focuses on fourth generation technologies used by the
World Bank’s approach to land engagement. Blockchain technology has been
hailed by custodians as being the future of the real estate management
industry with potential to streamline processes such as land and
property registration, valuation of property and many more digital
actions. This could increase efficiency throughout the operation of land
markets, impacting both both public and private purposes.
Commission chairs 2015-2018 at their meeting during the FIG Working
Week, 2-6 May 2016 in Christchurch, New Zealand: Brian J. Coutts (comm. 1), E.M.C.
(Liza) Groenendijk (comm. 2), Enrico
Rispoli (comm. 3), Angela Etuonovbe
(comm. 4), Volker Schwieger (comm. 5), Diane Dumashie (Vice
president), Ivo
Milev (comm. 6)., Gerda Schennach
(comm. 7), Steven Nystrom (comm. 9), See Lian ONG
(comm. 10) and Eva-Maria Unger (YSN)
Commission 9 at the FIG Working Week 2015 in Sofia,
Bulgaria 17-21 May 2015
Mr. Steven Nystrom and FIG President
Dr. Chryssy Potsiuo
Unfortunately the Chair of Commission
9, Dr. Liao Junping, had to make the
sad decision to step down as chair. FIG Council thanked
him for the work he has done until now for FIG at the
General Assembly in Sofia, Bulgaria. The
matter was discussed in FIG Council as well as at the
Commission 9 Meeting, and the Council hereafter decided
to appoint Mr Steven Nystrom, NCSP, US,
as Chair of Commission 9 for the rest of the term
2015-2018. Mr Steven Nystrom received
the FIG bronze pin - at the General Assembly - as
symbol of his appointment.
Commission 9 and the International Property
Measurement Standard Coalition
FIG is a founder member of the International Property Measurement
Standard Coalition. Chair of Commission 9, Frances Plimmer is FIG
contact person to the coalition. The aim of the Coalition is to
enable properties to be measured on a transparent basis that
promotes market efficiency through greater confidence between
investors, occupiers and funds. The growth of cross-border property
investment and expansion by global corporate occupiers underpins the
demand for transparency against the background of many differing
national and local measurement conventions.
With the implementation of international property measurement
standards, properties will be consistently measured, creating a more
transparent market, greater public trust, stronger investment
confidence and market stability.
The Coalition?s Standard Setting Committee, which was established
last year in Washington DC, has produced a consultation document
which is available at:
http://ipmsc.org/consultation/ as are details of the
consultation process itself. If you have any comments please contact
Chair of FIG Commission 9, Frances Plimmer.
The Coalition comprises twenty eight organisations from across
the world and there are opportunities for additional organisations
to ?get involved?. Please visit the website at
http://ipmsc.org/ for further
information about this and other IPMS matters.
Announcement: Former Chair of Commission 9 Bruce
Harding passed away
The former commission 9 chairman Bruce Harding from USA passed
away on January 20, 2013. He was born in 1931 and was commission 9
chairman during the Finnish presidency 1988-1991. Bruce was a good
man and devoted appraiser and run during his time Harding Appraisal
Co Eng. in Sebastopol, Ca. As the commission 9 chairman Brue was a
modest man but made a good job.
Commission 9 at the FIG Working Week 2012 in Rome,
Italy, 6-10 May 2012
Liao Jinping (Patrick)
Commission 9 had its annual meeting during the
FIG Working Week 2012 in Rome, Italy, 6-10 May 2012. The General
Assembly appointed Prof.
Liao Junping (Patrick) from China PR as the Chair Elect
of Commission 9 for 2013-2014.
FIG Commission 9 Workshop 14- 16 September 2012,
Republic of Cyprus
FIG Commission 9 Workshop on International Workshop on Mass
Appraisal Systems is taking place at at Neapolis University, Paphos
14-16 September 2012. The Workshop is organised by FIG Commission 9,
Cyprus Association of Property Valuers and Neapolis University
Pafos.
Commission 9 at the FIG Congress 2010 in Sydney, Australia, 11-16 April 2010
Frances Plimmer
Commission 9 had its meeting during the
FIG Congress 2010 in Sydney, Australia, 11-16 April 2010. The
General Assembly appointed Dr. Frances Plimmer from
United Kingdom as
the Chair of Commission 9 for 2011-2014.
Commission Newsletter and Memo
from the Annual Meeting in Eilat
Commission 9 had an active programme and fairly high attendance in Eilat. In addition to the General Assembly the Working Groups 9.1 (Compulsory
Purchase and Compensations in Land Acquisition and Takings), 9.3 (Diagnostic
Tools and Prescriptive Practices for the Valuation Profession) and 9.5 (GIS-analyses
in Real Estate Market Analyses and Valuation) had their own meetings.
Working Group 9.2 (Improving Slum Conditions through Innovative
Financing) has in practice completed its work along with the Stockholm
Conference and the World Urban Forum in Nanjing in 2008. Working Group
9.4 (Review of Valuation Methods and Standards Worldwide) has not been
active this year. Report of the
Annual General Assembly is attached.
Commission 9 had seven sessions for paper presentations, a
part of them in co-operation with other commissions. The themes
were ?Valuer?s Profession and Real Estate Taxation?, ?Real
Estate Market?, ?Planning, Finance and Urban Readjustment?,
?Property Investments, Brokerage and Prices?, ?Valuation Methods?,
?Compulsory Purchase and Compensation and Planning? and
?Compulsory Purchase and Compensation and Valuation in Real
Estate Development?. There were nearly 30 papers in total. The
sessions had 20 to 30 participants and discussion was often keen.
The papers are availablehere.
On grounds of the discussions at the Working Group 9.1
meeting a questionnaire was addressed in the summer of 2009 to
the representatives of Commissions 7 to 9, academic members,
participants in the Helsinki 2007 Seminar and some other experts
on Good Practices for Compulsory Purchase and Takings. The
outcome will be presented and discussed at the Hanoi Conference
in October 2009. The aim is to prepare FIG recommendations on
good practices for compulsory purchase and compensations to be
published at the Sydney Conference in 2010. In the Hanoi
programme Commission 9 has three sessions for paper
presentations and a meeting of the Working Group 9.1.
Commission 9 together with
Commissions 7 and 8 has made a questionnaire on Good practices for
compulsory purchase and takings. Deadline for replies has passed but
you can still see the invitation and reply to the questionnaire.
The Joint Seminar on Appraisal and Property Protection
was organised in Beijing, China P. R. 18-19 October 2008 by the China
Institute of Real Estate Appraisers and Agents (CIREA), The Hong Kong
Institute of Surveyors (HKIS) and the International Federation of
Surveyors, FIG Commission 9 - Valuation and the Management of Real
Estate in co-operation with FIG Commission 8 - Spatial Planning and
Development.
The major goal of this seminar was to intensify the
discussion between valuers, surveyors, real estate experts, investors,
financiers, urban planners, researchers, teachers and decision makers
and develop common ideas for shaping the future.
International Seminar on State and Public Land Management in Verona,
Italy, 9-10 September 2008
Seminar on State and Public Land Management was organised in Verona,
Italy, September 9-10, 2008 by FIG Commission 7 (Cadastre & Land
Management) and the Consiglio Nazionale Geometri (CNG), in co-operation
with FIG Commission 9 and the Food and Agriculture Organization of the
United Nations? (FAO) Land Tenure and Management Unit.
FIG Commission 9 Seminar on Compulsory Purchase and
Compensation - Helsinki, Finland, 6-8 September 2007
The Seminar on Compulsory Purchase and Compensation in Land
Acquisition and Takings takes place September 6th to 8th 2007, in
Helsinki, Finland. The seminar is organised by FIG Commission 9 in
conjunction to the Baltic Valuation Conference and in co-operation with
FIG Commissions 7 and 8, FAO?s Land Tenure Service, World Bank, Finnish
Association for Real Estate Valuation, Finnish Association of Surveyors,
Ministry of Agriculture and Forest in Finland, National Land Survey in
Finland, Nordic Journal of Surveying and Real Estate Research and
Helsinki University of Technology/Department of Surveying.
The major goal is to intensify the discussion between valuers,
surveyors, real estate experts, financiers, urban planners, researchers,
teachers and decision makers and develop common ideas for shaping the
future.
There are two possibilities for submitting a paper and giving a
presentation:
? Case studies, project presentations etc. (non-reviewed-papers)
? Scientific papers (reviewed papers)
Prof.
Kauko Viitanen from the
Helsinki University of Technology,
Department of Surveying from Finland was appointed by the General Assembly
in Athens as the Chair Elect of Commission 9 for 2004-2006. He will be
the chair of the commission 2006-2010.
Commission 9 participates the 46th Annual Congress of
the International Federation for Housing and Planning (IFHP), Tianjin,
China P.R., September 2002
In September Simon Adcock, Vice Chair of FIG Commission 9
participated at the 46th Annual Congress of the International Federation
for Housing and Planning (IFHP) in Tianjin in north-west China. Of the
800 plus delegates, approximately 300 were international delegates.
Simon Adcock, on behalf of FIG Commission 9, conducted a workshop
session entitled GIS Application for Strategies in Urban Planning.
This workshop covered GIS Application in both ?two? and ?three?
dimensional urban planning, computer assistance mapping of data,
analysis of data, quality control and display outcomes. The 3-D section
covered development project analysis and appraisals.
The Appraisal Journal is a peer-reviewed quarterly journal for real
estate appraisers. Nancy Bannon, the recently appointed Senior Editor of
the journal is offering and encourage FIG valuers and Commission 9
members to submit articles for consideration for publication in The
Appraisal Journal.
The Journal's articles examine issues related to real estate value, taxation,
government regulation, business enterprise valuation, and commercial
transactions, with a special focus on valuation processes and techniques.
The contact information is:
Nancy K. Bannon
Senior Editor
The Appraisal Journal
Appraisal Institute
550 W. Van Buren St., Suite 1000
Chicago, IL 60607
T 312-335-4445
F 312-335-4222
nbannon[at]appraisalinstitute.org
www.appraisalinstitute.org
Prof.
Kauko Viitanen from the
Helsinki University of Technology,
Department of Surveying from Finland was appointed by the General Assembly
in Athens as the Chair Elect of Commission 9 for 2004-2006. He will be
the chair of the commission 2006-2010. 
