Building Information Modelling (BIM) for property valuation: A new approach for Turkish Condominium Ownership

Abstract

In Turkey, calculation of the factors affecting the value of the condominium units of a building via 2D architectural project data leads to problems. One of the biggest problem is the land share calculation. The aim of this study was to establish a mechanism by which the properties of the factors affecting the value can be determined mathematically and to arrive at a value-based land share. For this purpose, the study utilized a 3D virtual Building Information Modelling (BIM) model. The value factors and weights were determined via a questionnaire, 3D BIM model of the structure was created, metric values of the factors were calculated and the nominal values of the condominium units were calculated. This study demonstrate that a building nonexistent in the real world can be represented in a virtual environment and comparable information source can be presented to the expert who will carry out the valuation process.

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Keywords:

• Land Share
• Condominium Ownership
• Building Information Modelling (BIM)
• 3d Model
• Property Valuation
• Turkey

Acknowledgments

This study is financially supported by The Scientific and Technological Research Council of Turkey (TÜBİTAK) with project number as 117Y260. The authors would like to thank the editor for his assistance in this study. They are also grateful to anonymous reviewers for their constructive comments.

Disclosure statement

No potential conflict of interest was reported by the author(s).

Notes

1 The Judgement of 18^th Civil Chamber of the Court of Cassation (1) E. 2014/16522 K. 2015/1265; (2) E. 2014/21458 K. 2014/18927; (3) E. 2013/8142 K. 2013/12513

2 The Judgement of 18^th Civil Chamber of the Court of Cassation 1) E. 2013/8142 K. 2013/12513; 2) E. 2014/16522 K. 2015/1265; 3) E. 2014/21458 K. 2014/18927; 4) E. 2013/9521 K. 2013/10502; 5) E. 2015/6011 K. 2016/929; 6) E: 2008 / 13132 K: 2009 / 1268; 7) E: 2008 / 10404 K: 2009 / 700; 8) E: 2008 / 10404 K: 2009 / 700; 9) E: 2006 / 7603 K: 2006 / 7364; 10) E: 2006 / 2548 K: 2006 / 5350; 11) E: 2005 / 1500 K: 2005 / 3483; 12) E: 2004 / 10661 K: 2004 / 12318; 13) E: 2002 / 9501 K: 2002 / 10573 .

Additional information

Funding

This work was supported by The Scientific and Technological Research Council of Turkey (TÜBİTAK): [Grant Number 117Y260].

Notes on contributors

Nida Celik Simsek

Nida Celik Simsek is a geomatics engineer. She graduated from the Department of Geomatics Engineering at Karadeniz Technical University in 2010. She got her PhD degree from Karadeniz Technical University in 2019. She worked as a research assistant at the same university. Her research interests are land management, land readjustment, property valuation, 3D property and BIM (building information modelling).

Bayram Uzun

Bayram Uzun is a Professor at Karadeniz Technical University, Turkey. He graduated from the Department of Geodesy and Photogrammetry Engineering at KTU in 1987. He received his PhD degree with thesis entitled “To Investigate Highway–Property Relations in Respect of Zoning Rights and to Propose a Model Using Land Readjustment Approach” in 2000. His research interests are land administration, land readjustment, sociology of real estate, 3D cadastre and real estate valuation.