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60-Minutes-Knowlege-Session Online "Enhancing Property Valuation with AI: Insights from Nicosia's Apartment Market"

On behalf of the Scientific & Organizing Board: Peter Ache, Małgorzata Renigier-Biłozor, Artur Janowski, and Thomas Dimopoulos, we are pleased to invite you for our Global Online 60-Minutes-Seminar No. 2, titled "Enhancing Property Valuation with AI: Insights from Nicosia's Apartment Market." The Seminar is organized by FiG Commission 9, University of Warmia and Mazury, Institute of Spatial Management and Geography, Institute of Geodesy and Civil Engineering, and Neapolis University in Pafos.

As a follow-up to the successful Presence Workshop in Cyprus in the spring of 2024, we will be holding this second 60-Minute Knowledge Meeting on AVM (Automated Valuation Modelling).

The seminar is scheduled for 24 September 2024 at 14:30 CET.

The event will feature a keynote presentation by Thomas Dimopoulos, a board member of IVSC, founder of AXIA Chartered Surveyors and Head of Real Estate Programmes at Neapolis University. Key topics to be covered include various aspects of using AI and mathematical models for property valuation, focusing on apartments in Nicosia. Key topics include:

• Studied Database: Analysis of 3561 sales data of apartments/offices in Nicosia, including variables like urban planning data and adjusted prices.
• Artificial Intelligence Algorithms: The use of AI in mass appraisal research, including ethical considerations and potential applications in various fields.
• Mathematical Models: Discussion of different regression models (univariate, multivariate, higher-order) and their accuracy in predicting property values.
• Outliers: Identification and handling of outliers in the dataset.
• Artificial Neural Networks: A comparison of traditional regression methods with neural networks, focusing on the accuracy and reliability of predictions.

 Discussion: Examination of the implications of using AI and mathematical models in real estate valuation, addressing concerns about replacing human judgment with machine intelligence.

We look forward to seeing you at our upcoming seminar. You will receive exclusive information about the seminar in advance.

Please register here: https://forms.gle/j8WtTrzXUZhUEt946

After registration you will get the link a few days before the seminar starts.

Best regards,

●      Peter Ache, Chair of the FIG Commission 9 “Valuation and the Management of Real Estate”

●      Dr hab. inż. Małgorzata Renigier-Biłozor, University Professor

●      Dr hab. inż. Artur Janowski, University Professor

●      Dr. Thomas Dimopoulos, University Professor