Predictive land value modelling in Guatemala City using a geostatistical approach and Space Syntax

Spatial information of land values is fundamental for planners and policy makers. Individual appraisals are costly, explaining the need for predictive modelling. Recent work has investigated using Space Syntax to analyse urban access and explain land values. However, the spatial dependence of urban land markets has not been addressed in such studies. Further, the selection of meaningful variables is commonly conducted under non-spatialized modelling conditions. The objective of this paper is to construct a land value map using a geostatistical approach using Space Syntax and a spatialized variable selection. The methodology is applied in Guatemala City. We used an existing dataset of residential land value appraisals and accessibility metrics. Regression-kriging was used to conduct variable selection and derive a model for spatial prediction. The prediction accuracy is compared with a multivariate regression. The results show that a spatialized variable selection yields a more parsimonious model with higher prediction accuracy. New insights were found on how Space Syntax explains land value variability when also modelling the spatial dependence. Space Syntax can contribute with relevant spatialized information for predictive land value modelling purposes. Finally, the spatial modelling framework facilitates the production of spatial information of land values that is relevant for planning practice.