Estimating Property Value By Replicating One

2004 ◽  
Keyword(s):  
2013 ◽  
Vol 62 (1) ◽  
pp. 67-84
Author(s):  
Anna Trembecka

Abstract Amendment to the Act on special rules of preparation and implementation of investment in public roads resulted in an accelerated mode of acquisition of land for the development of roads. The decision to authorize the execution of road investment issued on its basis has several effects, i.e. determines the location of a road, approves surveying division, approves construction design and also results in acquisition of a real property by virtue of law by the State Treasury or local government unit, among others. The conducted study revealed that over 3 years, in this mode, the city of Krakow has acquired 31 hectares of land intended for the implementation of road investments. Compensation is determined in separate proceedings based on an appraisal study estimating property value, often at a distant time after the loss of land by the owner. One reason for the lengthy compensation proceedings is challenging the proposed amount of compensation, unregulated legal status of the property as well as imprecise legislation. It is important to properly develop geodetic and legal documentation which accompanies the application for issuance of the decision and is also used in compensation proceedings.


2019 ◽  
Vol 17 (9) ◽  
Author(s):  
Normayuni Mat Zin ◽  
Suriatini Ismail ◽  
Junainah Mohamad ◽  
Nurul Hana Adi Maimun ◽  
Fatin Afiqah Md. Azmi

Real estate is complex in nature, whereby its value is determined by many characteristics. Heritage property is different as compared with non-heritage property, thus; it is essential to identify the heritage property value determinants due to limited published research about it. This paper closes the gap by reviewing the literature to identify the determinants. To achieve this, academic journals and conference papers in online databases from 1974 to 2017 have been reviewed. The results indicated that there are four groups of heritage property value determinants namely; i) transaction characteristics, ii) structural characteristics, iii) spatial characteristics, and iv) historical characteristics. It can be concluded that heritage property values are differentiated by historical characteristics notably on their architectural styles or design and the status of the heritage property itself. This finding should be a useful guidance for the valuers in valuation practice.


2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Koon-Shing Kwong ◽  
Yiu-Kuen Tse ◽  
Junxing Chay

AbstractThere are two main equity release plans for retirement financing: reverse mortgage plan and home reversion plan. Both plans entitle the homeowners not only to release cash from their properties but also to allow them living there for life. In the lease buyback scheme (LBS) recently introduced in Singapore, the home owner sells the tail-end of the property lease to the government in exchange for a cash payment upfront. Unlike the two main equity release plans, the LBS only allows the owner to stay in the property for the front part of the lease but not for life. In this paper, we propose a hybrid home equity release plan that incorporates features of the home reversion plan and the LBS. We provide an actuarial framework to analyze the pricing of the hybrid plan, as well as the LBS and home reversion plan. Some numerical illustrations are presented to show the actuarial values of the plan under different choices of plan parameters, such as the lease period and the portion of property value sold. The hybrid plan provides enhanced flexibility to plan takers to meet their retirement needs.


2019 ◽  
Vol 11 (2) ◽  
pp. 412 ◽  
Author(s):  
Jacek Batóg ◽  
Iwona Foryś ◽  
Radosław Gaca ◽  
Michał Głuszak ◽  
Jan Konowalczuk

In this paper, we investigate the influence of airport operation on property prices. In this research, we apply spatial hedonic regression and a difference-in-differences approach to address the introduction of new land use restrictions on property prices. We use data on housing transactions from two housing submarkets around regional airports in Poland. The results suggest that the introduction of land use restrictions impacts property prices. In general, as expected, more rigid restrictions translate into higher discounts in property prices. This research contributes to the limited knowledge on the impact of the introduction of land use restrictions on property prices, as most previous papers have focused solely on the impact of noise. These findings must be treated with caution, as some estimates were not statistically significant, mainly due to limited sample size. The research has important policy implications. Growing airports in Poland face tensions between economic and environmental sustainability. Currently, airports in Poland are obliged to limit their environmental impact by creating limited use areas related to the aircraft related noise while being responsible for property value loss related to these restrictions. As a consequence, most regional airports face significant compensations to property owners.


2014 ◽  
Vol 22 (1) ◽  
pp. 58-68
Author(s):  
Jan Konowalczuk ◽  
Tomasz Ramian

Abstract One of the fundamental ways in which an advantage over competitors can be gained in business is to develop real estate portfolios in such a way that will lead to an increase in market share and value for shareholders. This serves as justification for the formulation and implementation of specific real estate strategies regarding the best manner in which to use CRE, make decisions regarding restructuring, and carry out necessary development projects, taking into account the criteria of: location, time, and procurement options. This paper presents the formulation and realization of real estate strategies, focusing on the use of the category of property value. Moreover, the authors formulate a possible classification of CRE, which is useful from the perspective of real estate strategies, in addition to identifying and evaluating different types of property values which can be used for real estate strategies. For the majority of operational properties, these categories differ from market value. The last part of the publication provides a reference of selected valuation methods used to determine the value of CRE in the context of formulating and implementing real estate strategies.


2021 ◽  
Vol 10 (6) ◽  
pp. 295
Author(s):  
Sevdai Morina ◽  
Endri Papajorgji

In life, it often happens that humans take different actions on different occasions to save man or his wealth. These actions can be taken when there is a need to protect the integrity of man and his wealth, both individual and social wealth. Man performs these actions morally and without any institutional obligation. Man does the action without consent in order to save one's life or another's wealth. There is a need for such an action, because everyone sometimes in certain cases needs mutual help. With these behaviors of people, it is seen that they do not take these actions out of legal obligation, but act and should act with the consciousness and conscience of the civilized man. People who do this are driven by the need for cooperation, humanity, existence at the expense of the other, namely society. A person performs this action by perpetrating the work of another without consent for any other person. Hence, they undertake some factual and legal action for the other, sacrificing something that can be the property value and their bodily integrity. Sometimes this action must be taken because there are actions that cannot be postponed, therefore someone should take an action in such situations even when uninvited. Consequently, the subject matter analyzed in this paper is the act of perpetration of the work of another without consent as a source of the right of obligations in the Republic of Kosovo.   Received: 6 October 2021 / Accepted: 1 November 2021 / Published: 5 November 2021


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