IDEAS home Printed from https://ideas.repec.org/a/eme/jpifpp/v30y2012i2p145-158.html
   My bibliography  Save this article

German valuation: review of methods and legal framework

Author

Listed:
  • Tobias Schnaidt
  • Steffen Sebastian

Abstract

Purpose - There is a continuing discussion about whether German valuation methods are inaccurate and inferior to the British standard, and the enduring efforts for a European and internationally standardised valuation method and value definitions intensify this discussion. The German valuation system is said to lead to valuations which do not reflect actual market conditions and excessive smoothing. Not surprisingly, German surveyors usually disagree and claim that the German valuation approach, with its sustainable rental value, fulfils not only its purpose but is more transparent and thus superior to the approach usually applied in UK. The purpose of this paper is to discuss the recently adjusted German valuation methods. Design/methodology/approach - The paper analyses the German valuation methods and highlights the predominant differences to the British valuation standards. Findings - The paper shows that the discussed valuation methods should lead to comparable results. The legal framework of the German valuation approaches can therefore not be blamed for any of the observed empirical phenomenon. Originality/value - The paper discusses the recently adjusted German valuation methods.

Suggested Citation

  • Tobias Schnaidt & Steffen Sebastian, 2012. "German valuation: review of methods and legal framework," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 30(2), pages 145-158, March.
    • Handle: RePEc:eme:jpifpp:v:30:y:2012:i:2:p:145-158
    DOI: 10.1108/14635781211206896
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/14635781211206896/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/14635781211206896/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/14635781211206896?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lynne Michael & Guowei Gu, 2013. "Consistency and Comparability of International Property Valuations," ERES eres2013_7, European Real Estate Society (ERES).
    2. Franklin Obeng-Odoom, 2018. "Valuing unregistered urban land in Indonesia," Evolutionary and Institutional Economics Review, Springer, vol. 15(2), pages 315-340, December.
    3. Bartke, Stephan, 2015. "The economic role of valuers in real property markets," UFZ Discussion Papers 13/2015, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
    4. Vladimir Vargas-Calder'on & Jorge E. Camargo, 2020. "Towards robust and speculation-reduction real estate pricing models based on a data-driven strategy," Papers 2012.09115, arXiv.org.
    5. Stephan Bartke & Reimund Schwarze, 2021. "The Economic Role and Emergence of Professional Valuers in Real Estate Markets," Land, MDPI, vol. 10(7), pages 1-20, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:jpifpp:v:30:y:2012:i:2:p:145-158. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.