DBPapers
DOI: 10.5593/sgem2017/22/S09.053

ORTHODOX VALUATION METHOD APPLICATION ON THE EXAMPLE OF COWORKING

M. Walacik
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, 421-426 pp, DOI: 10.5593/sgem2017/22/S09.053

ABSTRACT

Coworking (also called as “office for hours") is a relatively new tool on Polish real estate lease market. This is a solution primarily for people predominately working at home who want to develop their business. The service consists of providing office space equipped with office furniture with internet access and other facilities. The idea of an office for hours is primarily dedicated for freelancers. That kind of solution gives a number of advantages, nevertheless appearing on real estate lease market in many situations it requires valuation of rent rates. The aim of the paper was to present problems that property valuers in many Easter Europe countries encounter while estimating new tools on their property markets especially caused by lack of comparable data. The author of the paper moreover gave a proposal of solution for that kind of situations by using orthodox valuation method. Preparing a coworking rental rate valuation the author explained both advantages and procedural requirements of the method. The method seems to be good solution in situation when commonly used methods fail.

Keywords: coworking, property valuation, orthodox method.