9. Recommendations for actualization of land valuation legal frameworks and directives

Buzás Ferenc- Cehla Béla- Kiss Sándor- Mező István- Tóth Csaba

The estimated market value of domestic land in terms of scale reach some thousand billions HUF, but the estimation of the real natural and economical value need a sophisticated methodological approach. The official methodology laid on legal basis (see decree 54/1997 Min. of Agriculture) was shaped for collateral valuation fulfilled to requirements of mortgage institutes. In the years since, at the socio-economical level many things have changed, which therefore made it necessary for re-thinking, accurate or change of the methods comprised in the mentioned decree. Considering the observations of the last two decades, accordingly with international guidelines and domestic legislation, the authors try to draw up recommendations for updating land valuation rules and methods both for legislators and real appraisal professionals.

Keywords: land valuation, land price, directives, valuation principles

JEL: K25

10.30716RSZ2019

DOI: 10.30716/RSZ/20/1/9