FIG Working Week 2020 – CANCELLED – Smart Surveyors for Land and Water Management

10 – 14 May 2020, Amsterdam, The Netherlands

Document type:pdf (305 kB)

European Residential Rebuilding Costs Index, a First Approach

Accurate estimation of the rebuilding costs of is essential in the property insurance process both for the customer and the insurance company. For the Netherlands Infofolio has developed an objective, unambiguous and robust econometric model to estimate the rebuilding cost of all home. With the growing availability of data in Europe, both open and commercial, the question arises whether it is possible to construct, renew and publish a European rebuilding cost index using the Netherlands as a baseline to estimate the rebuilding cost of homes across Europe. Internet research shows that many datasets containing geo-spatial and administrative data exist for Germany, the UK and Sweden, however, most of these data sources cover either a specific area or a specific time period. The combination of 3D laser scanning (LiDAR) data and building and/or cadastre data is most promising as it is widely available, fairly uniform and can be used to construct detailed 3D models of homes. By combining features extracted from these 3D models and available European construction cost data a European rebuilding cost index can be created. Further research is needed to determine whether the proposed approach to collecting data and constructing a European rebuilding cost index yield sufficiently accurate estimations of rebuilding costs. We propose to apply the proposed method to four middle-sized cities in Europe and review and assess the results with international insurance partners. (2020)

Date entered: 28-dec-2020