| Summary: | This research aims to compare econometric models based on hedonic pricing methods, with traditional methods and to evaluate the utility of geographical information systems (GIS) for construction and analysis of land value models. Land values explicitly have an influence on local environment, community development and taxation, as well as urban planning policy. This research applies multiple regression analysis as an econometric tool based upon hedonic pricing methods to identify models and significant variables influencing land prices. The research areas of seven square kilometres contained over 15,000 land parcels in Nong Khaem district, one of the western districts of Bangkok, and in Bang Bua Thong, the western district of Nonthaburi province. The research sample included 1,999 sales data of properties purchased during three consecutive years. Their details were gathered by both on-site observation and investigation methods. The purchased prices of sales data were gained directly from face-to-face interviews with local dwellers and organisations. Data collection employed quantitative and qualitative research methods. The qualitative variables are defined and measured based upon questionnaire responses of 127 local professionals and non-professionals. Sales data collection forms concerning land sales were used for gathering selling prices and their attributes. Over 3,000 land plots or a quarter of the total land plots in the research areas were tested to estimate land values based upon two hedonic price models selected from the 12 models that were developed. To evaluate the utility of geographic information system, spatial and non-spatial data were derived from a variety of secondary sources. These data were integrated together by a parcel identification number (PIN). Surface response and spatial models were employed to visually demonstrate how GIS are able to support mass land evaluation tasks in the Bangkok metropolitan region. The results of the research provide valuable information and evidence to support policy makers and other relevant organisations as well as private sector organisations involved in urban development, environmental and public administration, and management regarding benefits of the hedonic price models and GIS comparing with the traditional method for mass land valuation in Thailand. 3 ••
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