Unified Methodologies- A Necessity for Accurate Assessment in Albania
Elfrida Shehu1, Elda (Maçi) Vorpsi2
1Dr. Elfrida Shehu, Department of Civil Engineering, Civil Engineering Faculty, Polytechnic University of Tirana, Tirana, Albania.
2Elda (Maci) Vorpsi, Tirana Municipality, Tirana, Albania.
Manuscript received on 23 March 2015 | Revised Manuscript received on 30 March 2015 | Manuscript published on 30 March 2015 | PP: 61-64 | Volume-4 Issue-1, March 2015 | Retrieval Number: A1377034115©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: As the real estate represents one of the most important part of assets for the state and for the individuals, its valuation is currently in the spotlight even in Albania. The aim of this paper is to analyze the use of assessment methods of real estate in Albania. The paper first describes the methods that Albanian appraisers use in evaluating and their application areas For each of the methods are defined strengths and weaknesses. Analysis of the strengths and weaknesses of the methods leads to the important conclusion that in order to narrow the differences in the values reported by different appraisers for the same property and the same purpose of valuation, the accurate and correct use of each method of evaluation should require a unification of methodologies within each method simultaneously with the necessity of developing national standards of real estate assessment
Keyword: Market Value, Method of Valuation, Unified Methodology, Real Estate
Scope of the Article: IoT and Smart City Application Systems