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Determining influence of new construction on market value of nearby building sites
Daňhel, Petr ; Mikš, Lubomír (referee) ; Dočkal, Pavel (referee) ; Bradáč, Albert (advisor)
New building projects make changes in infrastructure and it is the reason of changing some of the characteristics of pricing building plots. For example: transport accessibility and connection to utilities. Side-effect of large-scale residential development is rising the price of land by speculation, because the expensive new buildings are creating places of "Good address". New construction pushing the boundaries of built-up area and in anticipation of further construction will begin trading at higher prices. The aim is to provide a method of determining of new construction on market value of nearby building sites. The project will be primarily focused on building sites as defined by law. Determination of the impact will be made by a comparative method. As comparative examples will be used traded, valued or offered real estates in locations with some new housing constructions (e.g. cadaster Bystrc, Komín, Sadova). The result of the work will be usable for real estate valuation: 1. Methodology for correction of index of variations to effects of new construction. 2. Methodology for correction of index of variations to speculative component of price.
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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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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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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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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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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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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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STANDARDISATION AND HARMONISATION OF EXPERT VALUATION PROCEDURE IN THE ASSESSMENT OF REAL PROPERTY THE USUAL PRICE (MARKET VALUE)
Brumovský, Martin ; Korytárová, Jana (referee) ; Mikš, Lubomír (referee) ; Šmahel, Milan (advisor)
In the current context of globalisation and development of international investment market along with increasing influence of European Union legislation and activities of professional organisations, there is an urgent need for standardisation and harmonisation of not only valuation procedures but also individual terms, definitions, approaches, methods and requirements for the qualification of valuers. This takes on special importance particularly in the field of real property valuation and market value („the usual price“ according to Czech law) assessment. At present there are three large international organisations contributing significantly to the development of this process through the development of their standards. The main objective of this thesis is standardisation and harmonisation of expert valuation procedure in establishing real property market value (the usual price), particularly in view of international valuation standards, namely IVS, EVS and the Red Book. To achieve this main goal it was necessary to clarify at first several related issues, as proper understanding of the background and context in particular is always an indispensable basis for successful harmonization process. The result of this work is thus both the design of a standard and harmonised procedure carried out by a qualified valuer in establishing the market value (the usual price), and the clarification of related issues, terms, definitions, methods and valuation approaches used in the Czech Republic and abroad, as well as the requirements imposed on the resulting report, etc.. The knowledge and information from this work will thus contribute to the development of the field of forensic engineering both in terms of theory, practice and teaching.
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