Application Research Of Improved Market Comparison Approach Based On The ISM-ANP Method In Land Appraisal

The price of land has always been an important manifestation of the operationalsituation of the land market. Nowadays, with the constant development of real estateand land markets, land price has become an important basis for land macro-control.Therefore, in order to reduce the gap between appraisal result and the actualtransaction price, raising the credibility has been the most important land priceassessment quesitons to be resolved.In today’s land appraisal methods, the market comparison approach is the basicmethod which is very prevalent. But some of valuation standard is not easy tomeasure. And there is an interdependent but feedback relationship between the landprice and its influence factors.On the other hand, this approach can only get part ofthe market information and qualitative explanatory variables.Therefore, this approach still has some aspects to improve. This paper will usethe ISM to analyze the factors’ affecting. And then it will use ANP to improve thetraditional market comparison method based on the market principles and the theoryof land evaluation. In the process of this improvement, it will involve super matrixand some other matrix to be calculated to make the improved market comparisonapproach more reasonable. These calculations are helpful to determine the weightsof every factors in land price.This paper used commercial land tradings as a case,which are happened inShenzhen in2013, to compare the appraisal accuracy between the traditional marketcomparison method and the improved one. But in order to avoid the condition thatit’s just an individual case, this paper will also select some other industrial lands andcommercial lands to compare their appraisal accuracy. By the empirical analysiscases, this paper can get the conclusion that the improved market comparisonapproach has higher accuracy than the traditional one.