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Analysis of the Requirements of International Valuation Standards IVS and Their Application in a Property Assessment Report
Hlásková, Michaela ; Pavlíková, Andrea (referee) ; Kledus, Robert (advisor)
The motivation to this master`s thesis is an increasing demand on evaluation of expertise report in conformity with requirements of internationally accepted standards as well as with national legal regulations. This master`s thesis is focused on defining of requirements of International Valuation Standards – IVS. The objective of the introductory study of this thesis is an effort to provide overview of the structure, the history and development of International Valuation Standards – IVS. The introductory study points out that the IVS standard is not stationary one, but shows the importance to keep the continuous track and analyze other possible information sources in connection to it. The main objective is to analyze the principal requirements of International Valuation Standards for expert as a person, expertise activity and required features of expertise report. The gained information is processed on the base of an expertise system approach, where the expertise is interpreted as a structured object with principal features: expertise object, expertise problem, expertise activity, expertise report and expert. Established findings are then analyzed regarding to such interpreted system approach of expertise and applied in the determination of type of approach which an expert should follow in the procedure of making out an expertise report of property valuation. Finally, an example expertise report for valuation of real estate is compiled. Such expertise report could be considered in conformity with national legal regulation as well as with requirements of International Valuation Standards – IVS. The expertise report is a practical example of findings of this master`s thesis.
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Analysis of the development of the prices of real estate
Hamouzová, Michaela ; Arltová, Markéta (advisor) ; Blatná, Dagmar (referee)
The aim of this diploma thesis is to analyze the development of the prices of real estate in the Czech Republic. The thesis is divided into three main parts. The first one deals with the theoretical introduction to valuation of the real estate. Moreover, the thesis presents the current development of the prices of real estate on the Czech market. The last part focuses on co-integration analysis, within which an ADL model is created. This model serves as a base for an error correction model, which describes short-term as well as long-term relations within the time series. The explanatory variables are gross domestic product, consumer price index, the amount of finished apartments, interest rate of mortgage loans, common rate of unemployment, and average gross monthly income. It is the one-equation model which describes the relation among the already mentioned explanatory variables and the HPI index. analysis of the development of the prices of real estate
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Analysis of the Requirements of International Valuation Standards IVS and Their Application in a Property Assessment Report
Hlásková, Michaela ; Pavlíková, Andrea (referee) ; Kledus, Robert (advisor)
The motivation to this master`s thesis is an increasing demand on evaluation of expertise report in conformity with requirements of internationally accepted standards as well as with national legal regulations. This master`s thesis is focused on defining of requirements of International Valuation Standards – IVS. The objective of the introductory study of this thesis is an effort to provide overview of the structure, the history and development of International Valuation Standards – IVS. The introductory study points out that the IVS standard is not stationary one, but shows the importance to keep the continuous track and analyze other possible information sources in connection to it. The main objective is to analyze the principal requirements of International Valuation Standards for expert as a person, expertise activity and required features of expertise report. The gained information is processed on the base of an expertise system approach, where the expertise is interpreted as a structured object with principal features: expertise object, expertise problem, expertise activity, expertise report and expert. Established findings are then analyzed regarding to such interpreted system approach of expertise and applied in the determination of type of approach which an expert should follow in the procedure of making out an expertise report of property valuation. Finally, an example expertise report for valuation of real estate is compiled. Such expertise report could be considered in conformity with national legal regulation as well as with requirements of International Valuation Standards – IVS. The expertise report is a practical example of findings of this master`s thesis.
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Valuation of a real property burdened by a property right and its redevelopment into apartments, including the assessment of the prospects of the project
Burešová, Jarmila ; Heřman, Jan (advisor) ; Zeman, Karel (referee)
The thesis deals with the valuation of the house, including land and all accessories under various conditions. The theoretical part explains the basic terminology and summarises the valuation methods used in this thesis. The practical part begins with the valuation of the house and land including all accessories, according to Ordinance for Valuation and Market Valuation Methods, specifically the Asset Value Method and the Comparative Method. The next section considers the existence of a life-use easement by a co-owner of part of the house, gardens and common areas, and sets the value of the property burdened by this easement. At the end, the property is valued as two separate apartments. All costs necessary to achieve the income from rent and property redevelopment are estimated, as well as the net annual return which would result from letting the two apartments. Final assessment of the benefit of the project is implemented through an Economic Rent Method and its comparison with the annual rent income.
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