The value of commercial property in the context of its potential
Journal Title: Zarządzanie i Finanse - Year 2014, Vol 12, Issue 4
Abstract
Determining the property market value based on revenues generated in other similar facilities operating in the market may lead to an overestimation or underestimation of the actual value of the property. Therefore, in the opinion of the authors, the market value of commercial property, understood as the most probable price of the transaction, should consider the individual operating results of the property, and not only on market data obtained from other objects in the local market. Diversity and incomparability commercial properties causes difficulty in estimating their value. In this paper the authors in theory represent the relationship between the level of market value, determined on the basis of typical market data (obtained in typical objects on the local market) and the level of so-called individ ual value, determined on the basis of the property’s potential and its operating results. Also the concept of special value was introduced.
Authors and Affiliations
Stanisław Belniak, Małgorzata Uhruska
Keywords
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