Lecture: Concept of the real estate market, types of markets, factors shaping the market. Introduction to real estate appraisal, concept and purposes of real estate appraisal. Real estate value as the basis
for appraisal (market value, cadastral value, replacement value, other types of value). Legal regulations related to real estate appraisal. Approaches, methods, and techniques of real estate appraisal in
Poland, and rules of their application: Comparative approach (pairwise comparison method, method of correcting the average price, method of statistical analysis of the market), income-oriented
approach (investment method, profits methos, technique of simple capitalisation, technique of discounting streams of income), cost-oriented approach (replacement cost method, substitution cost
method, detailed technique, technique of elements of integrated circuits, index technique), mixed approach (residual method, method of land estimation indices, liquidation costs method). Sources of
information for the purposes of real estate appraisal. Features of real estate affecting its value. Rules and course of preparation of an appraisal report.
