Geographical Information System (GIS) Application to Property Valuation Practices in Port Harcourt Metropolis of Rivers State, Nigeria

Abstract

Technology has in the recent years been vehicle for improving effectiveness and precision by different professions in an attempt to achieving the best practice by these professions. One of such technologies which can employ to aid Estate Surveying and Valuation practice is Geographical Information System (GIS). Valuation of properties including real estate and other assets have often been carried out through the application of manual methods which is often found to be cumbersome and sometimes not producing accurate and reliable results. It is in realization of the inherent deficiency entailed in the application of manual approach in carrying out valuation that this study seeks to investigate the application of Geographic Information System (GIS) to the art of valuation practice in Nigeria using Port Harcourt Metropolis of Rivers State as a case study with a view to ascertaining its inherent benefits to valuation practice. To achieve the aim of the study, questionnaires were administered to seventy-four (74) estate surveying and valuation firms randomly selected in the study area. Presentation and analysis of data was done using mean and relative important index. Finding from the study revealed that estate surveyors and valuer are quite aware of the inherent benefits of the geographical information system (GIS) to property valuation, but only very few of the Estate Surveying and Valuation firms make use of it in their valuation practice. The study further revealed that majority of the Estate Surveying and Valuation firms were willing to adopt its use if only they could gain better understanding of its application to valuation practice as its application is bound to having positive effect on the practice of Estate Surveying and Valuation profession. Based on the findings, the study recommends that training should be held to equip estate surveyors and valuers with the required skills for the application of geographical information system (GIS) since empirical research has shown that it has potential of enhancing valuation practices.

Received: 14 December 2021 / Accepted: 20 March 2022 / Published: 5 May 2022