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The purpose of this paper is to compare essences of parallel
methods in property appraisal, being done in econometric
and non-econometric ways. Through the analysis of formal
conditions and on the background of the definition of the
real estate market value, both of analysed methods are tested,
whether they can lead to results that can be interpreted in the
same way. The key role of sense of the market value connected
with reality of precisely defined objects of appraisal, was
emphasised. Presented considerations lead to the conclusion
that the necessary condition for a positive assessment of
the results of calculations as a conclusion concerning “the
market value of a specific property”, is verifying the type of
data on which the calculations were based, and if obtained
result refers to a specific object or to a certain group/class of
objects. Another discussed problem of property valuation is
the recurrence of several estimations. It was explained that
in order to obtain a number of similar quote evaluations
an appropriately compiled database about sold objects must
exist. Only when everyone uses comparable reference data it
can be expected, that estimations using these data can give
comparable valuation results. The response to a need of such
databases is making relevant, accessible and complete data
about the property market.
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