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Evaluation Of The Real Estate Properties - Novelties Within The Cost Approach Method Of Assets

Author

Listed:
  • Raluca Florentina Cretu
  • Ion Anghel

    (The Bucharest University of Economic Studies Faculty Accounting and Management Information System)

Abstract

Like any other market, the real estate market registers a continuous evolution, acting like a sensitive barometer to the economic fluctuations and being seriously affected by economic, social and political factors. Whatever the economic situation might be, the evaluation of real estate properties is done in conformity with the International Valuation Standards (IVS), standards that are perpetually revised. Since 2004, IVSs have experienced numerous revisions, the latest done in 2011, and changes are both formal as well as substance related. The cost approach is one of the three methods for evaluating real estate properties and it applies to situations where there are a limited number of transactions and when market approach and income approach are not applicable. The hereby study undertakes to show the novelties attained by means of the cost approach in evaluating real estate properties.

Suggested Citation

  • Raluca Florentina Cretu & Ion Anghel, 2012. "Evaluation Of The Real Estate Properties - Novelties Within The Cost Approach Method Of Assets," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 2(40), pages 15-22.
    • Handle: RePEc:aio:aucsse:v:2:y:2012:i:40:p:15-22
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    File URL: http://feaa.ucv.ro/AUCSSE/0040v2-002.pdf
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    More about this item

    Keywords

    real estate; evaluation; cost approach; investment; property valuation;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

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