DBPapers
DOI: 10.5593/SGEM2016/HB63/S10.078

THE APPLICATION OF STANDARD VALUATION APPROACHES ON ENERGY-EFFICIENT HOUSES IN THE CZECH REPUBLIC

M. Cupal
Friday 11 November 2016

References: 16th International Multidisciplinary Scientific GeoConference SGEM 2016, SGEM Vienna GREEN Extended Scientific Sessions, www.sgemviennagreen.org, SGEM2016 Conference Proceedings, ISBN 978-619-7105-79-7 / ISSN 1314-2704, 2 - 5 November, 2016, Book 6 Vol. 3, 607-614pp, DOI: 10.5593/SGEM2016/HB63/S10.078

ABSTRACT
Housing market in the Czech Republic, especially the segment of family houses, has been undergoing changes recently, but it predominantly consists of older and mostly energy inefficient real estate property. Nevertheless, new conditions and challenges are bringing a considerable increase in the number of new energy-efficient houses, simultaneously raising the question of the way of their valuation.
The International and European Valuation Standards provide three general approaches to valuation of a real estate. The approaches should be adopted and used appropriately to determine the final market value. However, the contribution rate of the individual approaches to market value is strongly dependent on characteristics and the potential of the house to be valued. The awareness of potential buyers of energy efficiency in the future and the rate of its projection into price is one of the most important elements.
The paper presents the development in the Czech Republic and reveals certain recommendations and specifics for valuation of energy-efficient houses.

Keywords: valuation, valuation approaches, energy-efficient houses, contribution rate.

PAPER DOI: 10.5593/SGEM2016/HB63/S10.078, THE APPLICATION OF STANDARD VALUATION APPROACHES ON ENERGY-EFFICIENT HOUSES IN THE CZECH REPUBLIC

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