IMPROVEMENT OF PUBLIC VALUATION METHODOLOGY BASED ON THE LIFE CYCLE APPROACH OF REAL ESTATE
DOI:
https://doi.org/10.47390/SPR1342V6I3Y2026N10Keywords:
real estate valuation, life cycle, valuation methodology, value change, valuation of developing real estate.Abstract
This article provides a comprehensive analysis of the issues of improving the methodology for real estate valuation based on the life cycle approach. The study examines the suitability of valuation approaches for the phases of the real estate life cycle, from the land plot stage to planning, construction, operation and final disposal. Based on international valuation standards, the features of the application of market, income, cost and residual methods at different stages are analyzed based on empirical data. The results of the study show that important turning points in the life cycle - obtaining zoning and building permits, completion of the development process, commissioning and abandonment of the facility - are of decisive importance in choosing a valuation methodology. The conclusions obtained serve as a methodological basis for improving the practice of mass valuation of real estate, increasing the reliability of valuation results and providing a reasonable explanation for sharp changes in value.
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