Real Estate Market Value Assessment from Aspect of Civil Engineering

Abstract

The real estate market value depends on numerous factors. Experts certified to perform real estate value estimation utilize all their attainable knowledge and experience in the estimation procedure, thus defining the certain key characteristics of immovable property affecting the market value. There is no such stipulation in our country regarding the regulation of this field of expertise. That is why the expert estimations are practically made on the grounds of approved methods and business practices evolving constantly. The unique stipulation would make the work of experts much easier since they would have the reliable baseline for estimation of real estate market value.
Since the economic aspect should not be neglected in the overall estimation, the experts certified to perform the estimation from economical point of view, should take the participation in the procedure of estimation of real estate market value together with the experts certified to perform estimation in the field of architecture and civil engineering.
Providing the insight into all the significant factors affecting the market value of immovable property, this paper is considered to be very valuable source of information to any person planning to purchase immovable property and facing difficulties in making final decision since the competition at the market of immovable property is tough. However, the purchase of any immovable property should not be taken as failure, unless paid more than its market value.