Evaluarea obiectelor imobiliare la etapa de elaborare a proiectelor investiţionale

Abstract

According to the local legislation in force [1], for valuation of real estate objects is expected to be applied: (i) the comparative analysis of sales; (ii) the revenue method; (iii) the expenditure method. In reality, however, as the analysis shows, more than 95 percent of the valuation certificates are based on the comparative sales method and the cost method.At the same time, the revenue method, based on future (updated) cash flows of each particular real estate object, is the most appropriate and most efficient methodological approach that can be used even at the design stage of the real estate object. Moreover, by using this method, each investment project can reflect the dynamics of the change in future market prices of the respective object for each particular year, which will allow the investor to become more successful in taking management decisions in the field of investment activity.