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Comparison of purchase and appraisal prices of flats in the Czech Republic in 2019
[Komparace kupních a odhadních cen bytů v ČR za rok 2019]

Author

Listed:
  • Petr Sunega
  • Martin Lux
  • Petr Kubala

Abstract

The importance of accuracy in appraisal prices is emphasized in both Czech and foreign literature. We have compared the purchase prices (price data of the State Administration of Land Surveying and Cadastre ) and appraisal prices (of Česká spořitelna, a.s.) of flats. The pairing of flats was done primarily on the basis of geographic location (using GPS coordinates), then by flat area, type of construction and date of the record / estimate. As a result, it was found that for 60% of the flats the appraisal prices were higher than the purchase prices. The discrepancy between the purchase and appraisal prices was mainly for flats in brick buildings and rather smaller flats. However, these results should be taken with caution in view of the limitations of the data sources used.

Suggested Citation

  • Petr Sunega & Martin Lux & Petr Kubala, 2022. "Comparison of purchase and appraisal prices of flats in the Czech Republic in 2019 [Komparace kupních a odhadních cen bytů v ČR za rok 2019]," Oceňování, Prague University of Economics and Business, vol. 15(1), pages 43-55.
    • Handle: RePEc:prg:jnloce:v:15:y:2022:i:1:id:2022_1_04:p:43-55
    DOI: 10.18267/j.ocenovani.274
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    References listed on IDEAS

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    1. Deborah Levy & Edward Schuck, 2005. "The influence of clients on valuations: the clients' perspective," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 23(2), pages 182-201, April.
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    More about this item

    Keywords

    Purchase prices; appraisal prices; flats; banks; Kupní ceny; odhadní ceny; byty; banky;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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