Decision Support and Expert Systems for Real Estate Investment Decisions: A Review

Decisions about investment in commercial real estate projects are influenced by many factors, both quantitative and qualitative. With the aid of computerized decision support and expert systems, investors and developers are applying increasingly sophisticated forms of analyses to project screening, portfolio management, and other high-level decisions related to real property assets. In this field, even small improvements in decision making can have major monetary impact. Although many off-the-shelf and custom-built systems have been developed, these computer technologies have yet to be fully exploited by the real estate investment industry.