TFL Vsebine / Revija SIR*IUS

Economic obsolescence in the real property valuation

Nabavnovrednostni način se uporablja tam, kjer za sredstvo ni aktivnega trga, tj., kjer ni koristnih oz. ustreznih dokazov o zadnjih prodajnih transakcijah. Ker ocenjevane nepremičnine niso vedno nove, jih je treba ob izvedbi nabavnovrednostnega načina umestiti v stanje na dan ocenjevanja, torej zastarati. Upoštevati moramo vse tri vrste zastarelosti: fizično, funkcionalno in gospodarsko. Najlažje je določiti fizično zastarelost, težje je določljiva funkcionalna zastarelost, najtežje pa gospodarska zastarelost. Ker gospodarska zastarelost po navadi ni tako očitna, jo med ogledom ocenjevanega sredstva težje opazimo, kaj šele izmerimo. Prikazali smo teoretična izhodišča za nastanek gospodarske zastarelosti pri ocenjevanju pravic na nepremičninah. Osredotočili smo se na dve najpogosteje uporabljeni metodi izračuna gospodarske zastarelosti - metodo tržnih podatkov ter metodo izpada dohodka, kjer smo predstavili tudi praktične primere posameznega izračuna.

The cost method is used where there is no active market for the asset, i.e. where there is no relevant evidence of recent sales transactions. Since the appraised property is not always new, it must be put in the condition on the date of appraisal, which means the inclusion of obsolescence. We must consider all three types of obsolescence - physical, functional and economic. Physical obsolescence is rather easy to determine. Functional obsolescence is more difficult to estimate, but the assessment of economic obsolescence is the most difficult task. The latter is often overlooked as it is not something we can see, hear, smell or taste. Because economic obsolescence is usually not so obvious, it is more difficult to spot it during the site survey or even to measure. The article presents theoretical starting points for the emergence of economic obsolescence when valuing real estate rights. We focused on the two most commonly used methods to calculate economic obsolescence - the market data method and the income loss method, where we also disclosed some practical examples of each calculation.