Automated real estate valuation disruption in the Smart Cities context

Abstract

[EN] The technological revolution has given rise to a new scenario for action, the Smart Cities. Its influence in the field of real estate valuation is transferred to the Automated Valuation Models (AVM) as tools that allow us to deal with the volume, complexity and speed of growth of massive data. Traditional models and methodologies become obsolete in the face of the intangible relationships between the new characteristic attributes of each property: its intrinsic characteristics and their urban, political, economic and social context. This paper aims to provice an updated framework for the future of property valuation, defining the possible consequences of managing real estate in a new sustainable way.