Urban land value and map of land values

Abstract

Land is the gift of nature to mankind. It provides continuity and progress. Land is not only our biggest asset, but at the same time, the whole real source. As immovable property, land constitutes one of the most valuable assets for the country and individuals. Because land is so important, the correct determination of its value for any evaluation purposes attracts special attention. There are different purposes the land is valuating for, like buying and selling, mortgage, financial reporting, development and redevelopment, etc. Regardless of the purpose of valuation, the market value is the most required kind of value and the main basis of evaluation of the land. In their daily work, the appraisers are based generally on the market transactions, but more and more are added cases when the value maps are used on valuations. This paper firstly deals with the methods and procedures for the evaluation of urban land, even in individual and mass valuation and concludes that their applications provide us significant differences in values that can`t be negligible. Finally, after working out these differences, relevant recommendations for the "spaces" where the maps of value can be used, are given.