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Valuation of real estate, including land, is the process of determining the market value of a property, and it is based on a number of factors. This assessment is important from both a legal and economic perspective.
Several main methods are used to value real estate:
• Market approach: In this approach, the price of real estate is compared with the market prices of similar real estate. This method is most often used for land.
• Income approach: This approach takes into account the income potential of the property. For example, it is used to value properties that generate rental income.
• Cost approach: The price of the property is determined based on its construction and renovation costs. This method is more often used for intangible real estate.
Valuation factors
• Location and infrastructure of the land plot: The geographical area where the land plot is located, proximity to the city center, road and transport infrastructure are important factors that affect the price.
• Land use purpose: Whether the land plot is for agricultural, industrial or residential purposes affects the price.
• Legal status of the land: The legal status of the land, ownership, land use permits and restrictions affect the price.
• Property size and natural features: Land area, shape and natural resources (eg water sources, soil quality) are important for assessment.

Appraisal of real estate, including land, is the process of determining the market value of a property, and it is based on a number of factors. This assessment is important both from the legal and economic point of view.
Valuation of real estate, including land, is a process of determining the market value of a real estate object and is based on a number of factors. This assessment is important both from a legal and an economic point of view.