ASSESSMENT OF THE INVESTMENT VALUE OF REAL ESTATE AND FACTORS AFFECTING IT
Abstract
At the stage of development of the domestic economy, the formation of an effectively operating market, one of the main elements of which is the investment market, takes priority. Real estate trade occupies a significant place in the investment market. Investments in real estate can be made both on the primary market – new construction of real estate objects, and on the secondary market – transfer of property rights to one or another real estate object. In order to make a sound investment decision, it is necessary to have information about the nature of full reimbursement of expenses, as well as about the appropriateness of the level of additional income, the degree of risk and uncertainty in achieving the final result. However, in the presence of a fairly large number of works devoted to the investigated problem, the current stage of development of the domestic real estate market is characterized by the absence of a clear economic strategy, incompleteness, inaccuracy and contradictory legislation. Real estate can be an investment resource and have an investment value only if they have the properties necessary to achieve the goals of investment projects. the investment value of real estate, which is determined by a set of factors and conditions that determine its "value" in the implementation of investment projects, is an undefined value and must be calculated for specific investment projects and conditions for their implementation. The task of assessing the investment attractiveness of the project is to analyze the estimated investments and the amount of income from its implementation. An expert analyst must assess how the expected results meet the requirements of the investor and the owner in terms of profitability and payback period. The article examines the concept of real estate as an investment resource, analyzes the existing methods of evaluating land plots, and analyzes methodical documents on the evaluation of the effectiveness of investment projects. A system of factors affecting the value of a real estate object as an investment resource is also defined. An approach to estimating the value of real estate as an investment resource has been developed and an algorithm for estimating the investment value has been built.
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