Valuation of Real Estate Market Values As an Indicator

DEFINITIONS The definition of market value was adopted in 2011 by the Property Assessment Board from the market value standard of the International Valuation Standards (IVS) and translated from the Red Book of the RICS8: "The estimated amount on the valuation date for which an object would be t...

Full description

Saved in:
Bibliographic Details
Published in:Real Estate Finance 2018-03, Vol.34 (4), p.159-167
Main Authors: Lubberink, A.B.M. Scholte, van der Post, W.J.Veuger, Veuger, J
Format: Article
Language:English
Subjects:
Commercial real estate
Federal government
Quality standards
Real estate
Real estate appraisal
State court decisions
Valuation
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:DEFINITIONS The definition of market value was adopted in 2011 by the Property Assessment Board from the market value standard of the International Valuation Standards (IVS) and translated from the Red Book of the RICS8: "The estimated amount on the valuation date for which an object would be transferred between a willing buyer and a willing seller after proper marketing in a commercial transaction, whereby the parties would have acted with full knowledge, prudently and not under duress."Due to the requirements that are set for the alienation of excess Central Government real estate,11 it is plausible to assume that the realized transaction prices from the data set are a realistic reflection of the defined market value as described in the IVS.According to the expectation, the average of the (corrected) transaction prices on the recording date (n=31) and the average WOZ values differ the least from each other for homes.[...]the total dataset is tested by means of regression analysis.
ISSN:0748-318X