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Off late it is increasingly recognised that land management is a multi faceted challenge, in which social, economic and physical dimensions must be considered. In addition, the call for sustainable development (WCED, 1987) increases the importance of effective land management at all levels. Hence, there is need for new approaches that will be able to handle this complexity. Among various decisions at the operational level of Land management, property valuation is considered to be a challenging process. For this reason, several methods have been developed to assist in property valuation. However, in the majority of these methods several important factors that affect property value are under-represented. One such factor is the location of the property and its relationship to other spatial entities.
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