|JEL Classification: C13, D 23, H 82, K11, R10
Tymoshchyk L., Ph.D. (Economics), Scientific Secretary of the Research Center for Forensic Examination on Intellectual Property of the Ministry of Justice of Ukraine, Kyiv, Ukraine
Property Valuation in the Property Management System: Analysis of Conceptual Problems
Introduction. Today, significant property assets in the form of real estate and land are in the possession of Ukraine. To make a profit from property requires an effective management system, an important tool of which is the assessment of property value.
Purpose. The main purpose of the article is to consider the obstacles to the development of property valuation as one of the tools of property management. The article also explores the peculiarities of the development of Ukrainian legislation in the field of property valuation and management, presents general recommendations for the development of the property procedure.
Results. The author identifies eleven conceptual problems of use and development of property valuation in the property management system. Among the most important is the lack of detailed legislative and procedural support of the property valuation procedure, in particular – the lack of a register of state property (both functionally real estate and unfinished), insufficient regulation of land and property legislation. Insufficient guarantees of observance of the rights to possession and use of property (real estate) are considered as obstacles to the growth of the role of small and medium business, and as a negative trend in the lives of people in the temporarily occupied territory. The influence on the development of property valuation of such market characteristics as competitiveness and lack of free competition, which contribute to the determination of the final value of property such factors as monopoly and government decisions, is analyzed.
Conclusions. The process of property valuation occupies a significant place in the process of effective property management, but in our country this procedure is still developing. The author emphasizes that a fair and objective assessment requires, above all, respect for constitutional rights and guarantees in the field of property. The second priority area for improvement is the formation of an integrated and complete legal framework in the areas of property management and land law, the creation of a complete register of all state-owned real estate. It is recommended to pay attention to the need to study the impact of the market on the final valuation.
Keywords: property valuation; property management valuation; property valuation mechanism; small business; real estate use right.
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Received: 16 November 2020
How to quote this article?
|Tymoshchyk L. (2020). Property Valuation in the Property Management System: Analysis of Conceptual Problems. Modern Economics, 24(2020), 194-199. DOI: https://doi.org/10.31521/modecon.V24(2020)-31.|