ASSESSMENT OF THE FACTORS AFFECTING THE VALUE OF THE INDEPENDENT SECTION AND THE VALUE OF THE BETTERMENT IN MULTI-STOREY RESINDENTIAL BUILDINGS

Harun Tanrıvermiş () and Selma EZBER Kurtar ()
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Harun Tanrıvermiş: Ankara Üniversitesi

Eurasian Business & Economics Journal, 2025, vol. 38, issue 38, 21-44

Abstract: Determination of the value difference between independent sections and detached houses in co-operative housing estates, mass housing projects, and multi-story buildings is necessary in terms of determining ownership and partnership rights, pre-launch valuation, and rational information of market actors. Since houses are used as an investment instrument beyond meeting the housing needs of individuals, their values should be determined as accurately and consistently as possible. However, in practice, in the valuation and betterment analysis of independent sections on different floors and orientations and of detached houses in a complex, valuation is made by scoring factors such as housing characteristics (detached or independent section on the floor), land share, gross and net area, number of rooms, the floor in multi-story buildings, dominant direction or facade, view, etc. according to a determined range. However, in the scoring process, it is seen that a standard weight is given by ignoring the weights of the criteria or without evaluating them according to the region's characteristics. In the research, the place of the concept of betterment in the literature and legislation, the importance of betterment in valuation studies through the disputes that have been referred to the judiciary on betterment, the determination of the factors affecting the betterment price and housing value, and the betterment calculation table of the housing construction cooperative in the selected case study were examined. The implementation problems and solution approaches were revealed. According to the results of the research, it is emphasized that features such as gross and net area, number of rooms, floor, facade, and environmental variables come to the forefront as betterment criteria in valuation, and in addition to these, in the judicial decisions examined; issues such as the construction of commercial or social facility areas in front of the independent section, being located next to the caretaker’s apartment or boiler room, changing the function of the real estate should also be taken into consideration. It is considered mandatory for experts to carry out valuation studies based on land share distribution in special projects, pre-launch valuation, and closing transactions in cooperatives, and to determine the factors to be taken into account in the valuation process and to complete the valuation studies rationally with weighting and mathematical models. 

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eas:buseco:v:38:y:2024:i:38:p:21-44

DOI: 10.17740/eas.econ.2024-V38-02

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