COMPARATIVE APPROACH APPLICATION IN VALUE ASSESSMENT OF LAND AREAS IN LITHUANIA
Journal Title: VADYBA - Year 2017, Vol 30, Issue 1
Abstract
the problematic fields. Correct valuation of real estate value is relevant in the financial services sector, insurance and lease companies as well as construction sector, agencies that sell properties, institutions that manage the Real Estate Register, it is also important for citizens who purchase and sell their real estate. Current valuation methods solely specifies requirements for application of the comparative approach – to evaluate time, place and other conditions expressing differences between the valued property and analogous or similar properties. This definition does not reflect the totality of criteria to be evaluated when estimating the value of the property. It should be noted that one of the most important factors of value substantiation is selection of totality of criteria applied in object value calculation, evaluation of the criteria (sub criteria) and interpretation of obtained results. In absence of exhaustive, reliable and continuous research identifying the criteria and importance thereof in calculation of the value, appraiser refer to expert valuation that is acceptable and applicable in calculation of real estate value, but has both advantages and disadvantages. The research carried out by the authors discloses that current data collected by the State Enterprise Centre of Registers are not sufficient and suitable for formation of methodology based on a data base. Lack of data about market transactions, quality and exhaustiveness thereof prevents reliable application of methods based on analysis of factual data. For this reason expert valuation remains as priority method for calculation of real estate value using the comparative approach. Therefore application of continuous research identifying criteria influencing the market value of real estate is recommended in the future, as well as preparation of valuation methodology for real estate valuation in consideration of analysis of data located at data bases of the Real Estate Register.
Authors and Affiliations
Valentinas Navickas, Audrius Šaudys, Rusnė Jegelavičiūtė
Keywords
Related Articles
- EP ID EP307501
- DOI -
- Views 67
- Downloads 0
EVALUATION OF EXPORT EXPANSION IMPACT ON THE ECONOMIC GROWTH IN SUB-SAHARAN AFRICA
There is no unanimity in the empirical and theoretical literature on the causal relationship between exports and economic growth. Hence, the article aims to investigate empirically how export determines and sustains econ...
SMULKUSIS IR VIDUTINIS VERSLAS LIETUVOJE IR JO MAKROEKONOMINIS EFEKTYVUMAS
Straipsnyje nagrinėjama smulkaus ir vidutinio verslo teoriniai aspektai bei jo būklė Lietuvoje. Apibrėžiama smulkaus ir vidutinio verslo sąvoka bei jo reikšmė šalies ekonomikai. Pateiktas smulkiojo ir vidutinio ve...
CHALLENGES OF INTERNET BANKING ADOPTION AND MARKETING AMONG BANKS’ CLIENTS IN LATVIA
Research purpose is to identify challenges of internet banking adoption and marketing among banks’ clients in Latvia. Authors as main problem identifies lack of knowledge regarding challenges influen...
PROBLEMS OF MICRO & SMALL ENTERPRISES DEVELOPMENT IN LATVIA
Small business is a vital factor in the economy of any country and its regions. The objective of the research is to identify and rank high-priority and major problems of small business development in Latvia. The object o...
KLAIPĖDOS MIESTO AUKŠTŲJŲ MOKYKLŲ STUDENTŲLAISVALAIKIO YPATUMAI
Straipsnyje aptariama laisvalaikio sampratos įvairovė, Klaipėdos miesto aukštųjų mokyklų studentų laisvalaiko ypatumai. Nagrinėjamas studentųlaisvalaikis įvairiais aspektais: tirtos pagrindinės laisvalaikio...