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Buildings 2017, 7(1), 26; doi:10.3390/buildings7010026

Valuation of Real Estate Investments through Fuzzy Logic

Department of Industrial Engineering, University of Naples “Federico II”, Naples, 80125, Italy
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Academic Editor: David Arditi
Received: 8 January 2017 / Revised: 3 March 2017 / Accepted: 13 March 2017 / Published: 15 March 2017
(This article belongs to the Special Issue Real Estate Economics, Management and Investments)
View Full-Text   |   Download PDF [289 KB, uploaded 16 March 2017]

Abstract

This paper aims to outline the application of Fuzzy Logic in real estate investment. In literature, there is a wide theoretical background on real estate investment decisions, but there has been a lack of empirical support in this regard. For this reason, the paper would fill the gap between theory and practice. The fuzzy logic system is adopted to evaluate the situations of a real estate market with imprecise and vague information. To highlight the applicability of the Possibility Theory, we proceeded to reconsider an example of property investment evaluation through fuzzy logic. The case study concerns the purchase of an office building. The results obtained with Fuzzy Logic have been also compared with those arising from a deterministic approach through the use of crisp numbers. View Full-Text
Keywords: possibility theory; fuzzy logic; discount cash flow analysis; uncertainty; real estate investment possibility theory; fuzzy logic; discount cash flow analysis; uncertainty; real estate investment
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Del Giudice, V.; De Paola, P.; Cantisani, G.B. Valuation of Real Estate Investments through Fuzzy Logic. Buildings 2017, 7, 26.

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