DETERMINATION OF MARKET VALUE OF ARABLE LAND IN THE AREA OF MSZANA DOLNA MUNICIPALITY, USING THE CURRENT VALUATION MODELS
 
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Katedra Geodezji Zintegrowanej i Kartografii, AGH Akademia Górniczo-Hutnicza, al. Mickiewicza , - Kraków
Publication date: 2018-06-30
 
Acta Sci. Pol. Formatio Circumiectus 2018;17(2):117–133
 
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ABSTRACT
The aim of the work was to verify the currently available valuation approaches and algorithms, as illustrated with the example of a farming property located in the Małopolska region. The valuation of agricultural real estate property was carried out using the comparative approach (statistical method of market analysis, using a multiple linear regression model), then the income-based approach (investment method, by simple capitalization technique), and finally, the mixed approach (method of land index estimates). The analysis we have conducted produced varying results of the determination of value when using different valuation approaches. In the comparative and income-based approach, the values were obtained at a very similar level, which most probably results from correctly selected similar properties in both databases. The value of real estate obtained using the mixed approach turned out to be an excessively low and inadequate value compared to the values obtained in the other two approaches.
ISSN:1644-0765