Property sustainable value versus highest and best use analyzes

Marek Walacik; Małgorzata Renigier‐Biłozor; Aneta Chmielewska; Artur Janowski

doi:10.1002/sd.2122

Property sustainable value versus highest and best use analyzes

Abstract

This article proposes the possibility of applying fuzzy logic theory to perform the tasks of determining the market value of agricultural lands. These tasks are of a multi‐criteria character, as multiple factors are taken into consideration during the land value valuation process. The market value of agricultural land plots, calculated using fuzzy logic methods, can provide a basis for further use in the processes that are directly related to their turnover, that is, during auctioning, setting of a land tax, determining of the value of pawn in the land bank. Methodic approach to the determination of the market value of agricultural lands with the application of the methods of fuzzy logic and the package Fuzzy Logic Toolbox of the computing system Matlab is universal. It can be used for assessment of the value of a land plot with any number of indices, having no crisp mathematic model. The proposed method is particularly useful for countries where the agricultural real estate market is still in its early stages of development and will contribute to making it more transparent and thus it can be a significant tool supporting the sustainable development of the agricultural real estate market. Agricultural land market is a vital ingredient of the system for sustainable development of rural areas.

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Authors (4)

Marek Walacik
Małgorzata Renigier‐Biłozor
Aneta Chmielewska
Artur Janowski dr hab. inż.

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Category:: Articles
Type:: artykuły w czasopismach
Published in:: SUSTAINABLE DEVELOPMENT no. 28, pages 1755 - 1772,
ISSN: 0968-0802
Language:: English
Publication year:: 2020
Bibliographic description:: Walacik M., Renigier‐biłozor M., Chmielewska A., Janowski A.: Property sustainable value versus highest and best use analyzes// SUSTAINABLE DEVELOPMENT -Vol. 28,iss. 6 (2020), s.1755-1772
DOI:: Digital Object Identifier (open in new tab) 10.1002/sd.2122
Verified by:: Gdańsk University of Technology