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ARTIFICIAL INTELLIGENCE APPLIED TO REAL ESTATE VALUATION An example for the appraisal of Madrid

The computerisation of real estate valuation began in the early 1980s, coinciding with the development of information systems technology. Subsequently, different statistical techniques were incorporated to process market data, among which the method of Multiple Regression proved especially relevant. The use of Artificial Intelligence Systems for real estate valuation is more recent, dating from about 15 years ago. Since then there have been numerous experiences, and the creation of new models is on the increase. Among the authors of the most interesting systems (some of whose papers have been used as the basis for this report), the following merit special mention: