DBPapers
DOI: 10.5593/sgem2017/22/S09.046

AN INTRODUCTION TO AN OPTIMAL REAL ESTATE ASSESSMENT

J. Dabrowski
Wednesday 13 September 2017 by Libadmin2017

References: 17th International Multidisciplinary Scientific GeoConference SGEM 2017, www.sgem.org, SGEM2017 Conference Proceedings, ISBN 978-619-7408-02-7 / ISSN 1314-2704, 29 June - 5 July, 2017, Vol. 17, Issue 22, 369-374 pp, DOI: 10.5593/sgem2017/22/S09.046

ABSTRACT

An assessment of a market property value has been a subject of a debate among appraisers for many years. Some of them believe that the ‘power’ of statistics is so tremendous that in each situation an appraisal should be based on statistical methods. On the other hand, the other group off appraisers with a considerable experience, strongly support an actual expert assessment. For practitioners statistics is usually only an additional tool used rather to confirm a presented thesis. The dispute lasting for years is not resolved due to the lack of reference plane. On the basis of literature study, the author suggests a way to reconcile these two approaches. The proposed model is based on a causality analysis scheme pertaining to the real estate market. A conception of conducting a real estate market research according to this scheme seems to be more optimal, as it is a mingle of the two approaches that eliminates their weaknesses.

Keywords: real estate market analysis, commercial premises market, critical values.