Master’s thesis deals with real estate valuation in Australia. The introductory part deals with the definition of the terms used in the work, for its better understanding. Furthermore, it discusses the development of valuation theory and its relation to economic ideas and various aspects that have influenced its development. The thesis then deals with methods of real estate valuation, their division and specific features. The thesis also discusses the current state of the real estate market on the Australian continent and outlines its possible future development. The experimental section describes the valuation of a particular property in Australia and describes which particular properties affect its cost.

The aim of my diploma thesis was to evaluate the real estate valued by the price and the usual price with the focus on the difficulty of obtaining the documents and information needed for valuation. In the theoretical part, I described the basic terminology for real estate valuation and provided a detailed list of the valuation documents. In the practical part, I made a complete expert report in the Delta-NEM program, and to its sub-sections I presented the possibilities for obtaining information about its creation.

This master´s thesis „Analysis of Selected Methods of Valuation of Garage-Type Real Estate in the Locality of Olomouc“ compares different methods of valuation in the area. Acquired data out of the valuation are further analyzed and then evaluated. The first part describes the basic terms, location and analysis of the real estate valuation. This is followed by a description of selected garages and valuation methods. For this thesis were chosen to value the 10 properties that are located throughout the Olomouc. Garages are valued at cost method, comparative method of regulativ and comparative way, depending on the database. The resulting data are being compared and subsequently evaluated.

This master’s thesis deals with the theme of the liquidation of the insurance claim on the particular family house, there is determined the amount of insurance benefits for the damage caused by landslides. In the first-theoretical part are explained the basic concepts related to the three main themes - valuation of real estates, bill of quantity method and insurance of real estates. The practical part is focused on the liquidation of a particular insurance event on a family house in Zlin. In the introductionof the practical part, the object is localized and the insurance event is described in detail, for comparing were dispatched valuation at different times. In conclusion of the part, there were the results compared and evaluated.

土地開發分析法是開發人員與估價師評估土地價格的重要方法之一，然而不同從業人員針對相同標的估值往往不盡相同，是估價人員的偏誤造成價格上的差異？抑或是估價人員運用土地開發分析法時，各項投入參數差異所產生？本研究以台北市公開標售成交地價與上市建設公司評估台北市地價分別分析，利用@Risk尋找土地開發分析法各項投入參數可能的機率分配型態，再以蒙地卡羅模擬分析建立土地開發分析價格的機率模型，並利用平均絕對百分比誤差（MAPE）、命中率（hit Rate）及交插驗證(cross-validation)做為機率模型預測估值優劣程度的衡量標準，比較「公開標售」組與「評估地價」組兩者機率模型何者預測能力。結果發現「評估資料」組的估值準確性較佳，「公開標售」組所建立之機率模型較不具預測效果。而三種適合度檢定之機率模型則是以A-D適合度檢定所建立之機率模型表現最佳(MAPE為14.98%，誤差±10% Hit-rate為38.46%，誤差±20% Hit-rate為71.43%)。本文透過機率模型的建立，考量不動產開發隱含之風險，呈現估值的結果由定值轉變為區間；考量不同估價人員或開發業者間，對於相同投入參數不同認知的情形；本模型將對地價敏感性較大之投入參數由定值轉為機率密度函數，較估價人員或開發業者主觀認定各項投入參數之變動更為客觀；可應用於大量估價，亦可作為估價人員或開發業者評估土地時，價格之參考 / Land development analysis is one of the developers and valuers assessment of land price method, different practitioners, however, is often not the same for the valuation of the same subject, valuers bias caused by the difference in price? Or valuers use of the land development analysis, the various input parameters the differences? In this study, turnover in Taipei sale by public tender premium and public listed construction company to assess the land value of Taipei City were analyzed, Looking for land development analysis the probability distribution of possible input parameters using the @ Risk, useing Monte Carlo simulation analysis to establish the land development analysis of the price of the probability model, and using the mean absolute percentage error (MAPE), the hit rate and cross-validation as a probability model to predict the measure of the quality and extent of the valuation, "open auction” group and “assess the premium” group between the two probability model may be predictive ability. The results showed that the valuation accuracy of the assessment information group better probability model created by the sale by public tender group compared with no predictive effect. Three kinds of fit test of the probability model is based on the AD for degree verification to establish the probability model the best performing (MAPE of 14.98%, the error is ± 10% Hit-the rate is 38.46%, the error is ± 20% the Hit-the rate is 71.43% ). Through the establishment of the probability model, consider the real estate development implied the risk of showing the results of the valuation by the valuation change interval; considerations between the different valuation or development industry, for the same input parameters of different cognitive situations; this model will have premium The larger sensitivity of the input parameters from the given value to the probability density function over valuation or development industry subjective judgments more objective changes of the input parameters; can be applied to a large number of valuation, assessment of land may be used as the valuation or development industryWhen the reference price.

This thesis explains basic, usually used constructional terms, describes the rules for drafting the projection drawings and it informs about legislative directives, which acompany every process of construction. It also mentions possibilities of building materials offered on the czech market. The work talks about wooden buildings, about constructions of bricks, enumerates advantages of insulation and presents the types of roofcoverings. It also describes the positives and negatives of classic heating and informs about new alternatives, which use bottomless natural sources. The most expanded windows in our country {--} thus the windows of wood and plastic are mentioned as well in the thesis. It presents some specialist´s opinions of most discussed themes in the building industry, it introduces new trends like thermal pump, solar collector and recuperation. Results of this work contain description of two solutionvariants, valuation of a detached house and determining of necessary construction costs. The thesis includes also a technical report and calculation of energy demands.

Markttransparenz in Deutschland wird durch die Gutachterausschüsse und auch durch verschiedene private Akteure am Immobilienmarkt realisiert. Insbesondere in Teilmärkten mit geringen Transaktionszahlen stellt die Markttransparenz eine Herausforderung dar, da nicht ausreichend Daten zur Analyse der jeweiligen Märkte zur Verfügung stehen. Aus diesem Grund bedürfen diese Märkte einer tiefergehenden Untersuchung, um auch hier eine ausreichende Markttransparenz zu erreichen. Die Vielfältigkeit der Teilmärkte mit geringen Transaktionszahlen muss dafür differenziert betrachtet werden. Im Rahmen der Arbeit werden zunächst Unterschiede in den Eigenschaften der Märkte mit geringen Transaktionszahlen untersucht. Hierzu wird mittels einer qualitativen Untersuchung von Leitfadeninterviews sowie der Literatur zum Thema eine Theorie zur Systematisierung der Märkte gebildet. Differenziert für einzelne Märkte kann mit dieser Strukturierung eine passende Auswertestrategie entwickelt werden. Anschließend erfolgt die Untersuchung von verschiedenen Daten, die bereits in den Märkten mit geringer Transaktionszahl genutzt werden. Kauffälle, die unvollständig erfasst sind, werden derzeit bei Auswertungen vollständig ausgeschlossen (Fallweiser Ausschluss). Teilweise fehlt jedoch nur eine Information für eine multivariate Analyse. Im Rahmen der Arbeit wird untersucht, ob und mit welchen Methoden diese Datenlücken geeignet gefüllt werden können, um eine höhere Genauigkeit in den Analysen auch mit wenigen Daten zu erhalten. Als Methoden werden neben dem Fallweisen Ausschluss eine Mittelwertimputation sowie die Auffüllung der Datenlücken mittels Expectation-Maximization und Random-Forest-Regression untersucht. Darüber hinaus wird das Expertenwissen, das in verschiedenen Formen von Expertisen (Befragungen, Angebotspreise, Gutachten) geäußert werden kann, untersucht. Zur Erlangung eines Überblicks, wird zunächst das Expertenwissen im Rahmen einer quantitativen Befragung näher betrachtet, um Handlungsweisen und Unterschiede von Experten aus verschiedenen Gruppen aufzudecken. Anschließend werden intersubjektive Experten- und Laienbefragungen im Kontext der Immobilienbewertung ausgewertet sowie Angebotspreise, die von Maklern und ohne Makler vermarktet werden, im Verhältnis zu den realisierten Kaufpreisen untersucht. Da die untersuchten zusätzlichen Daten wie Angebotsdaten oder Expertenbefragungen in einigen Teilmärkten nicht zur Verfügung stehen oder nur mit hohem Aufwand erzeugt werden können, sind alternative Nutzungsansätze notwendig. Hierzu werden zwei Methoden auf ihre Eignung hinsichtlich räumlich zusammengefasster Auswertungen geprüft. Der Vergleich erfolgt zur in der Praxis etablierten multiplen linearen Regressionsanalyse. Zum einen werden die geographisch gewichtete Regressionsanalyse, die lokale Märkte besser abbilden kann, zum anderen die künstlichen neuronalen Netze, die Nichtlinearitäten besser abbilden können, angewendet. Im Ergebnis zeigt sich, dass eine Strukturierung der Märkte mit geringer Transaktionszahl möglich ist. Eine sinnvolle Strukturierung erfolgt anhand der Grundgesamtheit des jeweiligen sachlichen/-räumlichen Marktes. Ebenso kann eine Differenzierung nach ländlichen und urbanen Räumen erfolgen. Mit Imputationsmethoden können die Ergebnisse von Regressionsanalysen deutlich verbessert werden. Selbst bei einem großen Vorkommen von Datenlücken in unterschiedlichen Parametern kann eine Auswertung noch gute Ergebnisse in der Größenordnung der vollständigen Kauffälle liefern. Auch mit der simplen Methode der Mittelwertimputation kann ein gutes Ergebnis erzielt werden. Experten im Bereich der Immobilienbewertung haben die unterschiedlichsten beruflichen Herkünfte. In ihrer Arbeitsweise lassen sich jedoch keine wesentlichen Systematiken feststellen. Lediglich bei der Nutzung von Daten können Systematiken aufgedeckt werden. Expertenbefragungen weisen grundsätzlich hohe Streuungsmaße auf. Die Streuungsmaße werden dann reduziert, wenn bei den Befragungen Einschränkungen beispielsweise durch eine vorgegebene Skala oder durch vorgeschlagene Werte erfolgen. Weitere Untersuchungen sind dahingehend notwendig. Auch die Abschläge zwischen Angebotspreisen und Kaufpreisen, aber auch die Anpassung von Angebotspreisen im Vermarktungszeitraum, weisen hohe Streuungsbreiten auf. Einen signifikanten Unterschied zwischen der Vermarktung mit oder ohne Makler kann in der untersuchten Stichprobe nicht nachgewiesen werden. Sowohl die Nutzung der geographisch gewichteten Regressionsanalyse (GWR) als auch die Nutzung von künstlichen neuronalen Netzen (KNN) bieten bei der Auswertung von räumlich zusammengefassten Daten in einer Kreuzvalidierung einen Vorteil. Dies lässt darauf schließen, dass die Märkte sowohl räumlich inhomogen als auch nichtlinear sind. Zielführend erscheint eine Kombination der geographischen Komponente mit nichtparametrischen Ansätzen wie dem Lernverfahren der KNN. / In Germany market transparency is realised by expert’s committees and due to the publication of market reports and market values and by various private players in the real estate market. In sub-markets with low transaction numbers, market transparency is a challenge because not enough data is available to analyse the respective markets. These markets require a more in-depth investigation to achieve sufficient market transparency. The diversity of sub-markets with low transaction numbers must be considered in a differentiated way. In the context of this work, differences in the characteristics of markets with a small number of transactions are examined. A theory for the systematisation of these markets is formed, using a qualitative investigation of guideline interviews and literature on the topic. Differentiated for individual markets, a suitable evaluation strategy can be developed using the proposed structuring. Subsequently, the analysis of different data, which is already used in real estate valuation, is carried out to investigate its usability for regions with few transactions. Purchase cases which are recorded incompletely, are today excluded from evaluations (case-wise exclusion). However, most of the time only one or two pieces of information for multivariate analysis are missing per case. It is examined whether and with which methods these data gaps can be filled suitably. Besides the case-by-case rejection (default method today), a mean-value-imputation, as well as the filling of data gaps using Expectation-Maximization and Random-Forest-Regression are investigated. Furthermore, the expert’s knowledge, which can be expressed in different forms of expert’s opinions (surveys, offer prices, expert reports), is examined. First of all, the expert knowledge, in general, is examined more closely within the framework of a quantitative survey to uncover patterns of action and differences between experts from different groups. Subsequently, intersubjective expert and layman surveys are evaluated in the context of real estate valuation. Additional offer prices, marketed with or without real estate agents, are compared to the realised purchase prices. Since the additional data examined, such as the supply data or the expert surveys, is not available in some sub-markets or can only be generated at great expense, alternative approaches to utilisation are necessary. For this purpose, two methods are tested for their suitability with regard to spatially summarised data. A comparison to the classically used linear regression analysis is made. On one hand, the geographically weighted regression analysis, which represents local markets more accurately, and the artificial neural networks, which are more suited to represent non-linearities, are applied. The result shows that a systematisation of markets with a low number of transactions is possible. A structuring based on the population of the respective functional/spatial sub-market takes place. It is also possible to differentiate between rural and urban areas. With imputation methods, the results of regression analyses can be improved significantly. Even if there are large numbers of data gaps in different parameters, an evaluation can still provide adequate results in comparison to an analysis with complete purchase cases if the overall sample is big enough. Already the simple method of mean-value-imputation leads to good results. Experts in the field of real estate valuation have a wide variety of professional backgrounds. However, significant systematics cannot be identified in their working methods. Different behaviour can only be identified by the usage of different data sources. Expert surveys generally show a high degree of dispersion. This degree of dispersion is reduced if the surveys are restricted, e.g. by a given scale or suggested values. Further investigations on these topics are necessary. The discounts between offer prices and purchase prices as well as the adjustment of offer prices within the marketing period are showing a high degree of dispersion. A significant difference between marketing with or without an agent cannot be proven in the examined sample. Both, the use of geographically weighted regression analysis and the use of artificial neural networks (ANN) offer an advantage when evaluating spatially summarised data in cross-validation. This leads to the conclusion that the markets are both geographically inhomogeneous and non-linear. A combination of the geographic component with non-parametric approaches such as the learning procedure of the ANN is appropriate.

The work deals with several theoretical methods of valuation of real estate and the actual valuation of a property using these methods in order to use the evaluation for insurance purposes. It also deals with legal aspects regulating the issue of a valuation. In the practical part of the work, valuations of a nursing home and a house are carried out for comparison. For each case, one of the methods of valuation is used. In the following summary, the outputs are analyzed both for given examples separately and compared together along with data obtained from insurance companies.

This diploma thesis deals with the analysis of the real estate market in the Czech Republic and France with a focus on residential buildings, namely sale and rental of flats. The diploma thesis describes the basic concepts and methods used in real estate valuation in the Czech Republic and France. It also analysis database creation and market segmentation of selected localities. Consequently, both real estate markets will be compared.

The diploma thesis solves the value of a cultural immovable monument. The course will deal with the issue of real estate valuation in relation to the life cycle of the building and its historical value. In order to verify the acquired theoretical knowledge, a case study will be prepared, which will determine the value of the cultural monument.