Обґрунтовано, що однією з причин виникнення кризових явищ на ринку нерухомості є недостатня увага до якості аналітичної роботи. Проаналізовано стан іпотечного ринку в Україні. Визначено додаткові оціночні процедури, які необхідно застосовувати у процесі оцінювання заставного нерухомого майна. Розроблено методичні основи та практичні рекомендації щодо їх застосування. ключові слова: іпотечний ринок, ринкова вартість, заставна вартість, ліквідаційна вартість, моніторинг ринку нерухомості. Kalynichenko i.
Introduction. The scale of the current financial crisis is a clear indication of the inefficiency of the vast majority of implemented economic decisions based on traditional principles and paradigms. The basic component of economic relations is the value of assets. International Financial Reporting Standards require that assets be measured at fair value, which is the carrying amount. According to International Financial Reporting Standards, there is a four-level fair value hierarchy that gives higher priority to market contributions to value measurement, and the minimum priority is given to data determined by the enterprise itself based on its assumptions and considerations. However, the vast majority of real estate owned by industrial enterprises is privately owned and used in the production process. Therefore, it is vital for the pricing mechanism to understand how real estate is valued by the owners of these properties. Goal. The purpose of the article is to study the theoretical and methodological provisions and develop practical recommendations for determining the value of assets of enterprises in order to make managerial decisions. Results. The differences between fair and consumer value are determined. It is proven that for the pricing mechanism it is vital to understand how real estate of enterprises is valued by the owners of these objects. It is proposed to use the rate of return offered by the customer, and not determined on a market basis.
The components of value are determined. The ranking of factors, which influence the cost of buildings the monuments of architecture, is carried out. It is proved that such factors as the historical and artistic value of a buildings-monuments increase the value of the object of estimation and, at the same time, make expensive assessments, substantial expenses for restoration, repair and maintenance. It is substantiated that the prestige of the architectural monument increases the income from the use of commercial premises located in it. However, the more unique a monument, the more encumbrances and restrictions exist in the implementation of any transaction, in the conduct of economic activity in the premises that are located in such a building. The variant of classification of architectural monuments according to the method of use is suggested. The peculiarity of application of three generally accepted in the world practice of estimation of methodical approaches to determination of cost of architectural monument is analyzed. The main advantage of the cost approach is the ability to accurately determine the value of low-performing markets. Without cost analysis it is impossible to make informed decisions about the feasibility of projects for the reconstruction of architectural monuments. However, it is virtually impossible to determine accurately the cost of materials and construction technologies that existed at the time of construction of the monument. A comparable approach can only be used when assessing the premises located in buildings-monuments of urban background construction. In this case, the comparative approach will have a complementary character with respect to the results obtained by other approaches. It is proved that the use of an integral coefficient that takes into account the value of an architectural monument as an object of cultural heritage does not affect the final value of the value of the commercial premises in which it is located. It is substantiated that the main methodological approach for estimating the value of commercial premises located in monuments is the income approach. The main criterion for investment attractiveness of commercial real estate is profitability. In determining the value through the use of a return approach, in addition to a retrospective analysis, possible scenarios for future activities are modeled.
Introduction. In the process of determining the value of real estate, the analysis of the real estate market is often purely formal. We have to admit the absence of a fully-fledged section on the analysis of the real estate market in the national standards, as well as the lack of awareness of many appraisers with the conceptual foundations of this methodology. Such situation caused the fact that the section of evaluation report on the market analysis is not organized as part of the research algorithm; consequently, it is not connected with other sections and the report in general. The cost is calculated by one or several standard approaches: cost, revenue, comparative. As a result of coordinating the evaluation results obtained by different methodological approaches, only one digital value is obtained. On its basis, it is necessary to draw conclusions about the value of the object of valuation in the market, its investment attractiveness, and the efficiency of its management system. Purpose. The article aims to develop theoretical and methodological provisions and practical recommendations for constructing a model of market pricing. Results. The differences between individual and mass valuation of real estate have been determined. The essence of the methodology of constructing a model of market pricing has been revealed. A complex algorithm for constructing a model of market pricing has been developed.
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