Toward 3D Property Valuation—A Review of Urban 3D Modelling Methods for Digital Twin Creation

Bibliographic Data

ID22031442
AuthorsYue Ying (0000-0002-3547-1123, University of Twente, corresponding author), Mila Koeva (0000-0001-7612-5270, University of Twente), Monika Kuffer (0000-0002-1915-2069, University of Twente), J A Zevenbergen (0000-0003-2319-5720, University of Twente)
Year2022
Volume12
Issue1
Pages2
Publication date2022-12-22
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueISPRS International Journal of Geo-Information (JOURNAL)
Journal identifiersISSN: 2220-9964 • E-ISSN: 2220-9964
PublisherMDPI AG (PUBLISHER • IT)
DOI10.3390/ijgi12010002
OpenAlexW4313414271
LanguageEN
Citations received6
References cited247

Increasing urbanisation has inevitably led to the continuous construction of buildings. Urban expansion and densification processes reshape cities and, in particular, the third dimension (3D), thus calling for a technical shift from 2D to 3D for property valuation. However, most property valuation studies employ 2D geoinformation in hedonic price models, while the benefits of 3D modelling potentially brought for property valuation and the general context of digital twin (DT) creation are not sufficiently explored. Therefore, this review aims to identify appropriate urban 3D modelling method(s) for city DT, which can be used for 3D property valuation (3DPV) in the future (both short-term and long-term). We focused on 3D modelling studies investigating buildings and urban elements directly linked with residential properties. In total, 180 peer-reviewed journal papers were selected between 2016 and 2020 with a narrative review approach. Analytical criteria for 3D modelling methods were explicitly defined and covered four aspects: metadata, technical characteristics, users’ requirements, and ethical considerations. From this, we derived short-term and long-term prospects for 3DPV. The results provide references for integrating 3D modelling and DT in property valuation and call for interdisciplinary collaboration including researchers and stakeholders in the real estate sector, such as real estate companies, house buyers and local governments

Business · Economic growth · Economics · Metadata · Real estate · Urbanization · World Wide Web · 3D Modeling in Geospatial Applications · 3D Surveying and Cultural Heritage · Computer Science · Remote Sensing and LiDAR Applications · Finance

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Open DOIOpen Access