Market Value (Ar.17)

Market value, Article 17, paragraph 2 (Valuation of Immovable Property Act):

“the value of an immovable property shall be determined by the value that should be assigned to an immovable property if its full and unencumbered ownership could be transferred and the acquirer of the property can put it to full and immediate use in its current state.”

Under Article 17, paragraph 3 of the Valuation of Immovable Property Act, with the exception of houses and monuments (Historic Buildings Act 1988), the value is determined by the replacement value if it leads to a higher value than the market value.

By adjusted replacement value of the immovable property is meant: “The amount required to obtain or produce an immovable property that has an economically equal significance for the business operations, the determining whereof takes into account the nature and purpose of the property together with the technical and functional ageing which has occurred since the establishment of the property, whereby the impact of subsequent alterations are taken into account.”

The concept of market value deviates, as a consequence of the use of the so-called notion of vacancy and acquisition, from the standard definition ©IVSC 2013 Market Value.

Value Terms

Definitions of Value Concepts of property

Market Rent

Definitions of Value Concepts of property

Market Value

Definitions of Value Concepts of property

Current Value