Int. J. Engineering Management and Economics, Vol. 6, No. 1, 2016 19 Copyright © 2016 Inderscience Enterprises Ltd. Evaluation of real estate decisions by spatial information Suat Teker Faculty of Economics and Administrative Sciences, Department of Economics, Isik University, Şile, İstanbul, 34980, Turkey Email: suat.teker@isikun.edu.tr Ismail Onden* Transportation and Logistics Research Group, TUBITAK TUSSIDE, Barış Mah. Koşuyolu Cad., No. 48 P.K. 14 41401, Gebze – Kocaeli, Turkey Email: ismailonden@gmail.com *Corresponding author Abstract: Real estate investments are one of the hardest decisions to make considering several aspects such as its long-term payment plans, uncertainty in economic returns and so on. Despite the difficulty of the decision, the decision-makers generally make their decisions with solely their personal thoughts which might cause missing critical overviews of the sophisticated decision environment. On the other hand, previous studies have shown that a variety of factors could affect the real estate prices. This study uses Istanbul Financial Centre (IFC) Project as a reference to address the critical factors which are expected to affect the real estate prices in a particular area. Moreover, it employs a form of spatial information to introduce the power of these criteria on real estate prices. The findings of this study can help real estate investors to earn good returns by pinpointing the most valuable regions in metropolitan areas. Keywords: housing market; GIS; geographic information systems; F-AHP; fuzzy analytic hierarchy process; multi-criteria spatial analysis. Reference to this paper should be made as follows: Teker, S. and Onden, I. (2016) ‘Evaluation of real estate decisions by spatial information’, Int. J. Engineering Management and Economics, Vol. 6, No. 1, pp.19–37. Biographical notes: Suat Teker is a Professor of Finance in the Department of Economics, Isik University, Turkey. He received his BS in Istanbul Technical University in Management Engineering, MS in Accounting in the University of Toledo, USA, MA in Economics and PhD in Financial Economics in the University of New Orleans, USA. Ismail Onden received his BS from Industrial Engineering Department at Dogus University. Then, he completed his MSc and PhD studies in Industrial Engineering Department at Yildiz Technical University. He takes roles