The Real Estate Value as the Basis of Valuation: Definitional and Interpretational Problems

Ewa Kucharska-Stasiak ()
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Ewa Kucharska-Stasiak: University of Lodz

World of Real Estate Journal (Swiat Nieruchomosci), 2016, issue 98, 23-28

Abstract: One of the most important categories in the process of real estate valuation is market value. Both its definition and interpretation are a subject of many discussions and disputes. The practice of valuation reveals that this category is not properly understood. Valuation without understanding the concept of value is worthless. Using the definition without understanding this category has negative consequences for the credibility of the valuation. This article aims to explain the economic origins of the current definition and interpretations of value and thus refer to certain elements of the methodology and practice of valuation. Two research methods are applied in the paper, i.e. literature and descriptive studies.

Keywords: market value of real estate; origins of defining and interpreting value; methodology and practice of valuation (search for similar items in EconPapers)
JEL-codes: K2 N00 R52 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:kra:journl:y:2016:i:98:p:23-28

DOI: 10.14659/worej.2016.98.03

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