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The Essence of Equivalent Markets in Determining the Market Value of Land Property for Variable Planning Factors

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  • Wójciak Ewelina

    (Faculty of Mining Surveying and Environmental Engineering, AGH University of Science and Technology)

Abstract

The leading local legislation act defining the spatial policy is the local development plan, the financing of which is the commune’s responsibility. The beneficiary of activities aimed at the transformation of the intended property use is its owner or its perpetual lessee – with lessees incurring the costs of adopting the local development plans through so-called zoning fees, the amount of which, often controversial, has become the source of numerous lawsuits. The presented problem of an outside-business and often radical change of land value corresponds to the market dilemmas in determining equivalent markets, and establishing price-setting factors and their impact on the value of real estate.

Suggested Citation

  • Wójciak Ewelina, 2016. "The Essence of Equivalent Markets in Determining the Market Value of Land Property for Variable Planning Factors," Real Estate Management and Valuation, Sciendo, vol. 24(3), pages 71-82, September.
    • Handle: RePEc:vrs:remava:v:24:y:2016:i:3:p:71-82:n:6
    DOI: 10.1515/remav-2016-0022
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    More about this item

    Keywords

    equivalent markets; fields of value; property valuation; zoning fee;
    All these keywords.

    JEL classification:

    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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