The Aging of a Building Versus Its Life Cycle with Regards to Real Estate Appraisal

Autor: Podwórna Monika
Jazyk: angličtina
Rok vydání: 2022
Předmět:
Zdroj: Real Estate Management and Valuation, Vol 30, Iss 2, Pp 86-97 (2022)
Druh dokumentu: article
ISSN: 2300-5289
DOI: 10.2478/remav-2022-0016
Popis: Construction objects are subjected to aging processes and other changes and influences during their life cycle. The paper focuses on one of the stages of the life cycle of a developed property - the final part of the service life phase, which is referred to by the author as “the autumn years”. The paper analyses the problem of classifying a building object to an appropriate life cycle when conducting a real estate valuation. The author searched for the answers to the question of when the liquidation phase begins, because the decommissioning of a building affects the landscape and spatial heterogeneity. The reasons for demolishing buildings were analyzed, and are as follows: the poor technical condition of building objects; functional wear; difficulties in carrying out renovation or reconstruction works; and financial unprofitability, which takes into account the life phases of buildings. This paper aims to prove the following theses:
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