Abstract
The object of research is the valuation process of mortgage real estate. One of the most problematic areas is the theoretical and methodological provisions for valuating mortgage real estate in an imperfect market, characterized by information opacity. The basis of the research is a systematic approach to the issue of valuing mortgage real estate. The methodological basis of this work is a set of methods of scientific knowledge of the problem, general scientific principles, methods and tools that are used in the research process. The information base of the research is the materials of the governmental portal, periodicals and the results of scientific research of scientists. The legal field of the valuation consists of international and European standards of valuation, the current legislative and regulatory acts of Ukraine. The solution of the tasks set in the work is carried out using the method of factor analysis, synthesis, systematization and generalizations, the method of cause-effect relationships, system analysis and a graphical method for visualizing the research results. It is determined that the market value should be the basis for valuing mortgage real estate. Taking into account the possibility of future forced realization of the appraised real estate object being pledged, it is determined that it is necessary to apply additional evaluation procedures, in particular: – to identify and exclude any unsustainable speculative points; – to build models of the trend of prices for the sale or lease of real estate; – to make a forecast of development scenarios for the segment of the real estate market to which the evaluated property belongs. Qualitatively carried out in the valuation process monitoring of the market for such facilities will allow banks to assess all the risks associated with the valued property and take a more informed decision regarding the size of the mortgage loan.
Highlights
It is well known that the efficiency of the banking system is the key to the economic development of the country
The activation of the mortgage market is directly related to the development of theoretical and methodological bases for valuating mortgage real estate, and has conditioned the research topic
International Valuation Standards are recommended when valuating mortgage real estate to determine market value, and the lender must himself conduct a sensible banking policy regarding the fate of the loan in the value of real estate
Summary
It is well known that the efficiency of the banking system is the key to the economic development of the country. In countries with developed economic relations, a significant part of investment in real estate is carried out through mortgage lending. The mortgage market provides the process of accumulating investment resources necessary for the development and construction of real estate, the activation of the financial and commodity markets. Despite some improvement in macroeconomic indicators in 2017, the risk of Ukraine’s banking system remains one of the highest in the world, causing limited access of the domestic banking system to the capital market. The activation of the mortgage market is directly related to the development of theoretical and methodological bases for valuating mortgage real estate, and has conditioned the research topic
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