Although real estate valuation is supposed to make the market transparent, it has been noted to be partial in many countries. Analysis of literature and results of the statistical analysis of survey responses of Polish property appraisers indicated that: Property valuers operate in an environment which exerts influence on the final result of valuation. The attempts of the client to influence the valuation process and their effectiveness do not depend on the gender and age of the property appraiser. The problem of valuation bias should be seen in the weakness of the system enforcing compliance with ethical standards, with this being an area which requires reinforcement in many countries.
KEY WORDS KLJUČNE BESEDEvalue map, geostatistics, kriging, spatial models, mass appraisal, Poland
This paper is based on the hypothesis that: “Spatial planning should regulate spatial development, taking into account the public and private interests, and enabling the development of public and private investments in construction projects. Investors may be discouraged from construction on account of too small or too excessive a number of spatial implementation conditions (land use guidelines) in particular, where an adequate professional basis has not been provided” This hypothesis has been verified by analyzing spatial planning processes in Poland and Slovenia, two countries whose centrally-planned economies (in Slovenia, this was called the socialist market economy) have been transformed into functioning market economies. The main aim of this study was to discuss the significance of spatial planning documents in the investment process and their contribution to the preservation of spatial order. Special emphasis was placed on planning documents that allow construction in areas not covered by a local zoning plan. In Poland, the relevant document is the outline planning permission for development of land or property. Investors are required to prepare extensive source documents that are used by the (local) authorities for issuing outline permissions for the development of land and of property. Due to a lengthy procedure for obtaining outline planning permission, development is delayed and, as a consequence, investors are discouraged from building. In Slovenia, the relevant spatial plans at the local level include the municipal spatial plan, which set out the spatial implementation conditions and the detailed spatial plan. The spatial implementation conditions are the criteria and conditions for intervention as determined by the spatial planning document, in accordance with which the acquisition of building permits under regulations on construction is prepared. These can have a significant impact on the performance of the investment project. In some cases, such conditions even discourage investors from building, because they are not on an adequate professional basis. The three examples discussed in this paper show that both too general and too precise spatial implementation conditions (land use guidelines) are unfavorable for investors and validate the hypothesis.
The paper indentifies and synthesizes the observed changes in the role of the property valuer on the property market. The authors of this paper provide a perspective on the changes in the educational programs for valuers. The main challenge for valuation professionals lies in developing a deeper understanding of market globalization and better analytical skills, with a view to assessing accurate values. The educational system at the university level should encompass programmes which will prepare valuers for providing proper advice affecting important investment decisions of real estate market participants. They stress the role of international and national organizations in re-shaping the profile of the valuer. The current critical attitude towards the valuation profession has forced the European body representing valuers, namely The European Group of Valuers’ Associations (TEGoVA) to speed up the harmonisation of the valuation practice in order to forestall more rigorous control by the EU. In response to this, all the major internationally recognised standard setting bodies, such as the above-mentioned TEGoVA and The Royal Institution of Chartered Surveyors (RICS), are considering the need to add “risk analysis” to valuation reports. Such development should significantly affect future valuation educational and training programmes which will need to present a more holistic approach to real estate as an asset class.
This article proposes the possibility of applying fuzzy logic theory to perform the tasks of determining the market value of agricultural lands. These tasks are of a multi-criteria character, as multiple factors are taken into consideration during the land value valuation process. The market value of agricultural land plots, calculated using fuzzy logic methods, can provide a basis for further use in the processes that are directly related to their turnover, that is, during auctioning, setting of a land tax, determining of the value of pawn in the land bank. Methodic approach to the determination of the market value of agricultural lands with the application of the methods of fuzzy logic and the package Fuzzy Logic Toolbox of the computing system Matlab is universal. It can be used for assessment of the value of a land plot with any number of indices, having no crisp mathematic model. The proposed method is particularly useful for countries where the agricultural real estate market is still in its early stages of development and will contribute to making it more transparent and thus it can be a significant tool supporting the sustainable development of the agricultural real estate market. Agricultural land market is a vital ingredient of the system for sustainable development of rural areas.
Adequate housing conditions are an indicator of a decent life, whereas the lack is one of the main reason behind so-called social exclusion. The importance of housing, in ensuring the social safety of citizens, as well as supporting social equity, has been emphasized for decades. Housing, however, also has an important economic dimension. A developed housing sector, in a broad sense guaranteeing the right to housing, is indicated as one of the main conditions for long-term economic growth. The significant role of housing, in deepening integrational processes on the old continent, has also been observed by the European Union. This article is a review and comprises of an attempt to synthesize arguments justifying the need to expand the European Union policy to include housing-related issues. For this purpose, a historical context of the perception of the role of housing in the process of European integration is presented; it characterizes the main phases of incorporating housing into EU policy, as well as indicating the most important areas and instruments of the European Union’s influence on the housing policy of member countries, along with an assessment of their results. The work makes use of the method of the critical analysis of literature, as well as an analysis of EU legal regulations, accounts, and reports referring to the housing sphere. Studies confirm the need for active involvement, aimed at including housing in the scope of EU competencies. The undertaken initiatives of a political, social, economic, environmental, and legal nature are the main forms of recommendations, propositions, and instruments supporting the implementation of common values. Studies conducted to date indicate that the implementation of a single EU housing policy for all member states is neither a simple nor desired task. A more effective solution would unquestionably be seeking out general solutions, addressed to groups of countries functioning under similar conditions. A European housing programme, which holds the status of European law supporting national housing policies, should be such a solution.
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