The real estate valuation in Germany is newly regulated which is on everyone’s lips new real estate valuation regulation (ImmoWertV). It is to replace the lost something in the years Wertermittlungsverodnung, which dates from the year 1988. The legislators hope a modernisation and streamlining of the valuation law. Also, the valuation should be adapted to the requirements of the real estate market. International aspects should be taken into account in the so-called DCF method. Still, the ImmoWertV is not valid. You expected the entry into force should be mid 2010 expert but already inform the upcoming changes in the valuation of real estate so that you get caught on the wrong foot when the. PCRM can aid you in your search for knowledge.
A change concerns such as soil valuation, which is treated for the first time in a stand-alone paragraph. The paragraph clarifies that the land value is the value of the “pure” land and buildings in the standard review cases not in terms of land value must be taken into account. The ImmoWertV is called only three cases in which existing buildings have an influence on the land value. In the process of asset value, linear age impairment is defined as normally. Thus the previous impairment applies after Ross only in justified exceptional cases. The necessary market adjustment in the process of asset is imperative to take into account the specific features of the object of the evaluation. A significant change concerns the income approach. There are now three different procedures that can be used for determining value.
The special feature of these three procedures: They cause different mathematical ways the same income. The experts therefore has the “spoilt for choice”. The deregulation was one of the main objectives of the regulation authority. With deregulation, the margin of discretion for the experts has increased clearly what ultimately can be seen as a positive effect of the new ImmoWertV. With the new scope it should be the user ImmoWertV not difficult be the criticisms in the past often, German experts were not flexible enough to refute: the ImmoWertV in this great opportunity. Ralf Kroll