Research On The Market Comparison Approach Of Real Estate Appraisal Based On Fuzzy Mathematics

In recent years, the reform of the economic system in land use system,the housing system, and other related major happens in China. The real estate market initially set up, and the real estate assessment also will be come into reality. Valuation principles of the market comparison approach is easy-to-understand than other valuation methods, the most important is that it can directly reflect state of the real estate market in the valuation process. These features make it become a method which is the simplest, the most direct and the most common in the valuation system, and it also be recognized by the international valuation community. China Real Estate Regulation stipulates that if conditions permitted, it is better to use market comparison approach to evaluate both land and real estate.The principles of application,procedures and the status of application to use market comparison approach are analyzed theoretically in this article. It summed up main issues and difficulties the market comparison approach applied in China:the arbitrariness of Comparable examples choosing; the factor revising subjectively and incompletely; Comprehensive price compute subjectively. Further more, it analyzed methods for determining the technical parameters of the traditional market comparison approach. It also showed the problem of the basic tenets of current different mathematical models used in the market comparison approach valuation.In this article, it focused on application method of the fuzzy theory for the market comparison approach. On the basic of existing real estate valuation theory, and connect with the latest research results of fuzzy theory, it established the Fuzzy Mathematical model of the market comparison approach. First of all, it applied Close-degree and optional closest principle of fuzzy identification model to select comparative examples. Then it solved a new algorithm to identify the characteristic factors and the weight the traditional model has not solved.In addition, the use of fuzzy comprehensive assessment model to amend regional factors and individual factors which improving the accuracy of amendment. When compute comprehensive price, it make use of the "index smooth method", associating with Close-degree achieved while select comparative examples. It will more closed between weight and Close-degree to compute comprehensive results.