They also stated that properties with high roof solar potential dispose of high property value. Helbich et Jochem proved the positive impact of solar radiation on residential property value as long as better solar potential reduces the energy consumption. Another energy related variable is the building solar potential. The study finding shows that property units with less natural daylight, less ventilated, and noisy are less purchased than the other properties within the same building. The results are not based on 3D simulation but on a simple interview with building residents in different property storey levels. Recent studies examined the significant impact of energy performance on the occupant living quality. Li and Chen emphasized that property units naturally illuminated, warm, quiet, and easy ventilated reduce the energy consumption and running costs. Kim and Berber pointed out that high energy consumption raises the apartment value by 13%. Īnother factor related to indoor variables is energy performance of residential buildings which was proved to be significant for property valuation. In addition, other studies argued that building construction materials cost have a significant impact on property value: a building with better materials properties increases the cost of building maintenance and reduces the cost of the running energy. On the other hand, prove that residential property prices vary differently with building height and floor level due to the impact of the surrounding vertical urban developments and different amounts of light for each floor level. The authors of demonstrate that property value tends to rise with the building height and justify this by the fact that taller building means better building construction quality. Indeed, property size, shape, floor level, and building height have an important impact on property value. Scholars stated that residential property value is strongly correlated with 3D physical characteristics. While the environmental variables refer to the property’s outdoor environmental conditions impacting its value such as noise (airport, traffic, etc.), air pollution, sunlight conditions, and view. The locational variables define the property’s location to neighborhood relevant amenities such as the proximity to public transportation and facilities (education, health, etc.). The physical variables refer to indoor spatial elements defining the geometric extent of the building and its content. These variables can be classified into indoor variables (physical, inherent to the property unit) and outdoor variables (locational, environmental). Recent studies have been conducted to assess their impact on property value. While from outdoors, environmental variables and the surrounding building’s information are provided from 3D city models (CityGML).ģD variables have a substantial impact on property valuation. From indoors BIM/IFC (Industry Foundation Classes) models are the main data sources for structural and living quality variables. To accomplish this, the potential of 3D building information modeling (BIM) and city information modeling (CIM) in property valuation is examined. Moreover, their 3D spatial and non-spatial elements are analyzed to identify which variables can be provided from 3D city models and building scale elements. This paper aims to investigate 3D variables with a significant impact on property value, to combine them with 3D technical requirements and to be integrated in a future valuation model. Furthermore, their value is often defined for a specific valuation purpose (e.g., taxation). Their use in 3D simulation for an accurate evaluation of the property value is still limited. However, in the literature, the identified 3D variables, by using hedonic pricing models (HPM) for property valuation, are mainly restricted to 3D visualization. Among these, 3D indoor physical and outdoor environmental variables are impacting the property value for each building unit. The growing rate of urbanization and vertical urban development has aroused the significance of geo-related variables for property units disposed vertically within the same building.
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