Open AccessA relationship between the value of the whole and separate parts
Author(s) -
Tomáš Krulický,
Jaromír Vrbka,
Tomáš Brabenec
Publication year - 2020
Publication title -
iop conference series. materials science and engineering
Language(s) - English
Resource type - Journals
eISSN - 1757-899X
pISSN - 1757-8981
DOI - 10.1088/1757-899x/960/4/042094
Subject(s) - real property , renting , property (philosophy) , value (mathematics) , market value , business , yield (engineering) , set (abstract data type) , position (finance) , property market , microeconomics , actuarial science , economics , law and economics , law , real estate , computer science , mathematics , finance , statistics , political science , philosophy , materials science , epistemology , metallurgy , programming language
The aim of this article is to analyse the relationship between the open market values of real property when the real property is sold in various ways. What is considered is the sale of real property as a whole and by its separate parts. Our conceptions are reflected on a specific real property model. The open market value of the real property is set by a comparative and yield-basis method. The difference in established open market values of the real property when selling the real property in various ways equals to 32%. Individual internal and external value-setting factors that make the difference are indicated and discussed. The discussed value-setting factors are mostly as follows: imposing administrative and organizational duties, the nature of the model real property, a position of the real property market, the economic law of declining demand, a risk of rental losses and the situation in the construction industry relating to the new buildings. A further research might be focused on identifying other value-setting factors related to real property.