Definition of methodology for mass valuation of property in Croatia (MMPEIZ)

Commissioned by: Ministry of Construction and Physical Planning
Project duration: December 5, 2017 – June 5, 2018
Project manager: Tajana Barbić
Collaborators: Maruška Vizek, Branimir Majčica
 
Summary:
This project aimed to analyze the mass valuation methodology that was applied by other countries, compare mass methods for valuation of properties in selected countries, identify the missing data, and define the methodology for mass valuation of real estate in Croatia. Project activities included the analysis of the mass valuation methodology applied by other countries. Also, a comparative analysis of the methodology applied by selected countries and the analysis of local market specific attributes were presented as well as the detailed review of literature covering mass valuation of real estate and the analysis of methodology proposed by the International Association of Assessing Officers (IAAO). The project also focused on the analysis of available data and identification of missing data. Finally, as a result, we presented the proposed methodology for mass valuation and calibrated the relevant parameters.