SPECIFIC FEATURES OF REAL ESTATE APPRAISAL (RESIDENTIAL PROPERTIES EXAMPLE)
DOI:
https://doi.org/10.55640/Keywords:
Residential property, real estate appraisal, market value, property heterogeneity, location dependence, valuation methods, housing market.Abstract
Real estate appraisal is a critical process for determining the market value of residential properties, serving as a foundation for investment decisions, mortgage financing, and urban development planning. This study explores the unique characteristics that distinguish residential property appraisal from other asset valuation processes. Key features include property heterogeneity, location dependence, sensitivity to local market conditions, and the influence of regulatory and institutional frameworks. The analysis highlights the importance of employing appropriate appraisal methods—such as the sales comparison, income capitalization, and cost approaches—while accounting for factors such as property size, age, construction quality, and neighborhood amenities.
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