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The capitalization rate calculation in selected cities of the Czech Republic
[Určení kapitalizační míry ve vybraných statutárních městech v České republice]

Author

Listed:
  • Hana Janáčková
  • Josef Kašík

Abstract

The article aims to calculate the capitalization rate in selected cities of the Czech Republic based on data obtained from actual sales in the real estate market. The objective of this article is to answer three research questions. The first research question is whether, in line with theoretical assumptions, areas with higher levels of risk (in terms of long-run achievement of expected rents) will also exhibit higher capitalization rates than areas with lower levels of risk. The second research question is how the capitalization rate in selected urban areas of Ostrava changed as compared to its previously calculated level (specifically in 2018) in the same urban areas. Finally, the third research question is whether the calculated values of the capitalization rate will be different from the capitalization rate established in the Valuation Decree No. 441/2013 Coll. as amended for the legally required administrative valuation purposes.

Suggested Citation

  • Hana Janáčková & Josef Kašík, 2022. "The capitalization rate calculation in selected cities of the Czech Republic [Určení kapitalizační míry ve vybraných statutárních městech v České republice]," Oceňování, Prague University of Economics and Business, vol. 15(3), pages 45-56.
    • Handle: RePEc:prg:jnloce:v:15:y:2022:i:3:id:2022_3_03:p:45-56
    DOI: 10.18267/j.ocenovani.281
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    References listed on IDEAS

    as
    1. Eva Ardielli & Jiri Ardielli & David Slavata, 2016. "Calculation and spatial distribution of capitalization rates in the selected segment of reality properties," International Journal of Entrepreneurial Knowledge, Center for International Scientific Research of VSO and VSPP, vol. 4(2), pages 37-50, December.
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      More about this item

      Keywords

      Capitalization rate; Income approach; Real estate; Valuation; Kapitalizační míra; Výnosový přístup; Nemovitá věc; Oceňování;
      All these keywords.

      JEL classification:

      • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
      • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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