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Dependence price of rent on common flat price
Chmelík, Tomáš ; Tichá, Alena (referee) ; Mikš, Lubomír (referee) ; Bradáč, Albert (advisor)
Main objective of this thesis is to determine the process for rent calculation of flats in line with presumptions influencing dependence of rent on common flat price. Proposed methodology is based on presumption of investing in property and possible yields or risks of this investment. The work studied the effects of correlation rentals and flat price.
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Assessment of the influence of material composition of new buildings on their market price and the price of existing properties in the locality
Schenková, Klára ; Abraham, Karel (referee) ; Mikš, Lubomír (referee) ; Drochytka, Rostislav (advisor)
The submitted thesis focuses on establishing the extent of influence of material composition of selected segment of real estates (units) on their market price and price of the existing properties in the locality, including reasoning and experimental validation of market value (or market price) assessment methodology of the given property. It is indisputable that there are many subjective opinions and views of each individual assessor (of expert opinion) entering into the process of property assessment. Therefore it is necessary to “standardise” or rather unify, if possible, at least some input data in a way most likely preventing disproportions that are still a part of expert practise nowadays. The influence of material composition on the value (price) of the property, as for the relation to unit size, its locality and also its age and technical condition, is within this thesis verified first of all in computational phase of the assessment of the specific unit, when it in principle shows possible inaccuracy in assessing the final price of property, which should be avoided by a proper expert assessment. Practical impact and use of the influence of material composition is applied within the comparative method as one of several assessment methods that can be employed in establishing (assessment) of market value of the property.
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The influence of the construction type on the distinction index used for the comparative method of real-estate appraisal
Spousta, Michal ; Mikš, Lubomír (referee) ; Šmahel, Milan (referee) ; Bradáč, Albert (advisor)
Quantification of the influence of type construction is realized for the purpose of determining the market price of flats by using comparative method of valuation. Comparative method is based on the market principle. Comparative method is based directly on a comparison of sales similar properties in similar conditions. Comparing price of comparative properties and appraised property is performed by using a number of criteria of significant differences, the evaluation of these criteria are quantified by using the coefficients of differences. In practice is usual to provide the range and number of coefficients based on professional judgment. The most important coefficients in comparative method of valuation are location, technical characteristics, equipment, accessories, property rights, other relevant factors and mainly the coefficient of influence of type construction is one of the most important factors of pricing. Due to this fact based on the analysis of public available sources (mostly from real estate server www.sreality.cz) is set, how the price is affected by the type of flat construction. During the creation database and it´s layout was found, that one of the pricing factor for the type of structure is insulation, therefore is this factor also considered.
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Comparasion of property market prices with prices discovered in a comparative way according to estimate regulations
Komosná, Milada ; Mikš, Lubomír (referee) ; Abraham, Karel (referee) ; Bradáč, Albert (advisor)
This thesis deals with a comparison of the market prices of Brno family houses. The compared prices are estimated using the comparative way based on the price regulations and using the comparative method. A new coefficient for the comparative method is proposed in the thesis. This coefficient takes into account the influence of the distance of the estimate property from the city centre in the connection with the position. One of the main reasons to introduce this coefficient was to obtain the best result when estimating the price, the result which is the closest to the required market price. The use of the coefficient of the global position may lead to better results of the price estimate, especially in bigger cities where this influence is revealed the most.
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Optimization procedure for the determination of usual prices of flats in development projects
Vlčková, Iva ; Marková, Leonora (referee) ; Mikš, Lubomír (referee) ; Bradáč, Albert (advisor)
The pricing of developer projects and housing is a broad area. Setting the right common price is important especially in case of court actions, execution proceedings, the privatising of housing, company mergers, capital investments in companies, estate settlements, liquidations etc. In all these cases substantial financial values are at stake and that is why it is necessary to have quality, correct factual grounds. The sole and at the same time most important basis is an expert opinion, which should guarantee an objective assessment of all circumstances that may influence the common pricing of property, in order to prevent any prejudice to the parties involved, or ensure there is no doubt in respect of possible graft. At present there is no methodology for common pricing of units (apartments and commercial premises) within a larger complex, which would take locality, placement, size, fittings, general state and other parameters that influence the price, into consideration. Yet it is common knowledge that the same unit will have a different price on the first floor, higher floors or top floor, window orientation and view, better surrounding area etc. It is also common that a larger unit with the same fittings and appurtenances will have a lower unit price than a smaller unit. The pricing in these cases is more intuitive, rather than based on analyses and reasoning. The dissertations´ aim was a methodology of pricing individual units in houses or larger complexes, which would simultaneously objectify subjective pricing, providing a rationale that would be unambiguous. This is important especially in case of court actions, execution proceedings or the privatising of housing, to preclude any bias or suspicion of corruption. The methodology also includes a software application that automatically computes input data and allows reviewing of results.
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Special influences affecting the price of real estate
Kulil, Vladimír ; Mikš, Lubomír (referee) ; Abraham, Karel (referee) ; Matějka, Libor (referee) ; Telec, Ivo (advisor)
The subject matter of this dissertation thesis is a proposal for a method of valuation of special effects that with impact on real estate prices. It deals with proposed procedures for valuation of intangible assets, and definitions of such property. Special effects are in particular name, historical value, design, quality of layout, security aspects, accessibility, conflictful groups of inhabitants in or near the property, and location. The value of special effects can be calculated as the difference between usual value and the material value of such property without coefficients of merchantability. For appraisal by official price, the thesis suggests to amend certain provisions and sections of the Act on Property Valuation No. 151/1997 Coll., and the implementing regulation of this Act, as amended. Part of the methodology is a general proposal for a method how to divide the assets into tangible and intangible part. As concerns the concrete procedure when calculating real estate prices, the thesis specifies procedure for special effects valuation. A form of cumulative matrix comprising all such effects has been drafted. Prices in single methodologies for assets valuation has to be adjusted by reasonable quantity of impact. For real estate on the territory of the Czech Republic will be used also coefficients of merchantability Kp in accordance with the price regulation considering their development in historical statistics.
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System concept of method highest and best use in the valuation of real estate
Klika, Pavel ; Weigel, Lubomír (referee) ; Mikš, Lubomír (referee) ; Bradáč, Albert (advisor)
Currently, development of the international investment market, the impact of the legislation of neighbouring countries and especially EU countries on property valuation is increasing. There is a need to unify not only the valuation procedures, but also terms, definitions, approaches, methods and requirements on the profession of the experts and assessors. One of the commonly used concepts of property valuation is the High and Best Use approach. This is a term that appears both in foreign and Czech literature, especially in connection to valuation of properties. When valuing a property and taking into account a valuation approach by considering the future use of the property, the consideration of the best use is crucial. When valuing using so called revenue way, i.e. we consider future property yields, the High and Best Use approach should be an indispensable part of the valuation. Although this is a very fundamental concept, there is no literature in the Czech Republic or abroad that would analyse in detail the process of property evaluation based on the High and Best Use method. The main aim of this dissertation thesis is to systematically elaborate the methods of valuation using the High and Best Use approach and to create a standard for experts, according to which it would be possible to process the valuation, respectively a part of the valuation of immovable properties. On the basis of such valuation, it would be possible to determine the market value of the immovable property in compliance with international standards and modern property valuation publications. The result of this dissertation thesis is both the proposal of a detailed procedure of a qualified expert´s work on an evaluation of the High and Best Use, including the influence of the easements on land and buildings, of a property and the proposal of an expert standard on this methodology. It includes a sample examples of an evaluation of the High and Best Use of the properties in the most common cases. The knowledge and information from this thesis have its contribution in Forensic engineering area in the field of theory and practice and pedagogical activities.
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RELATIONSHIP BETWEEN RENTED AND FLAT PRICE
Stránský, Jiří ; Mikš, Lubomír (referee) ; Kropáčková, Barbora (referee) ; Bradáč, Albert (advisor)
The dissertation focuses on the problem of determining the timeliness of the normal market rent an apartment at the market price of the apartment. The basic premise is obtain a database of prices of flats and apartments to compare these parameters the most accurate way. This area has been addressed several times, but only in some cities and not fully explored. The conclusions of the dissertation indicate what the relationship is normal and usual rental price of the apartment, then further comparison of the development of this relationship before the economic crisis, ie the price levels of 2008 and the present. Based on these data, it is also possible to determine the level of capitalization in each regional cities with regard to the average wage in each regional cities.
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