Abstract
Interest in modern methods of assessing the value of real estate in the housing market is fuelled by the increased business activity, increased competition and changes in the taxation system. In this regard, the article proposes a method for assessing the value of real estate based on the analysis of various factors influence degree. The proposed recommendations are based on correlation and regression analysis. They allow for an absolute and relative adjustment of the residential property value. In order to confirm its practical application, a possible adjustment of the property considering the influence of the “quality of repair” factor is provided.
Highlights
In modern society, the residential real estate market and its participants represent an economic system that occupies an important place in the life of every person.The development of the housing market in Russia in recent years and the increase in business activity on it have contributed to the demand for assessing the market value of residential properties necessary for executing various real estate deals, as well as for analytical housing market research.The real estate market experts have recently shown an increased interest in the methods of mass assessment of the housing objects market values, the relevance of which is emphasized by the change in the property tax calculation procedure
The assessment methodology based on the correlation and regression analysis is quite dependent on the quality of the analyzed factors
In the conditions of increasing competition in the residential real estate market and the taxation system changes, the need to assess the degree of influence of various external factors on the cost of housing is justified
Summary
The residential real estate market and its participants represent an economic system that occupies an important place in the life of every person.The development of the housing market in Russia in recent years and the increase in business activity on it have contributed to the demand for assessing the market value of residential properties necessary for executing various real estate deals (buying/selling, mortgages, pledge, etc.), as well as for analytical housing market research.The real estate market experts have recently shown an increased interest in the methods of mass assessment of the housing objects market values, the relevance of which is emphasized by the change in the property tax calculation procedure. The residential real estate market and its participants represent an economic system that occupies an important place in the life of every person. The development of the housing market in Russia in recent years and the increase in business activity on it have contributed to the demand for assessing the market value of residential properties necessary for executing various real estate deals (buying/selling, mortgages, pledge, etc.), as well as for analytical housing market research. The real estate market experts have recently shown an increased interest in the methods of mass assessment of the housing objects market values, the relevance of which is emphasized by the change in the property tax calculation procedure. There are three main approaches to the real estate assessment presented in the educational and specialized literature: income, cost and market approaches (table 1) [1,2,3,5,6,7,8]
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