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Reproduction of Real Estate Valuation Methodology in Practice. An Attempt at Identifying Sources of Divergences

Author

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  • Kucharska-Stasiak Ewa

    (Department of Economics of Industry and Capital Markets Faculty of Economics and Sociology University of Lodz)

Abstract

The objective of the study is to try and identify the reasons for the detachment of the valuation practice from its methodology. Two methods have been used in the paper: the analysis method and the case study method, under which fourteen property valuation reports posted on websites and two opinions about the property valuation prepared for court purposes in order to detect and identify sources of deviations from the valuation methodology have been analyzed. The study, besides theoretical aspects, includes references to practical application: pointing out directions of changes in legal regulations and national valuation principles, which should help achieve uniformity in interpreting the valuation concept, allowing the reduction of its uncertainty, understood as the uncertainty of a single valuation and uncertainty as the difference between valuations.

Suggested Citation

  • Kucharska-Stasiak Ewa, 2014. "Reproduction of Real Estate Valuation Methodology in Practice. An Attempt at Identifying Sources of Divergences," Real Estate Management and Valuation, Sciendo, vol. 22(2), pages 67-79, July.
    • Handle: RePEc:vrs:remava:v:22:y:2014:i:2:p:13:n:7
    DOI: 10.2478/remav-2014-0018
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    More about this item

    Keywords

    valuation methodology; valuation uncertainty; valuation standards; methodological errors; professional organisation;
    All these keywords.

    JEL classification:

    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

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