The Ministry of Physical Planning, Construction and State Assets has implemented the project "Initial balance of coefficients for adjusting the cost value of detached family houses and family houses in a row in the Republic of Croatia, as of 01.01.2023", which determined the coefficients for adjusting the cost value of real estate to the market value.
These coefficients were published in the publication of the same name, which is available at the link.
Adjustment coefficients are defined as those that are derived from the relationship between suitable purchase prices and calculated values of the same real estate, and include coefficients for adjusting the cost value and coefficients for adjusting the right to build.
The publication states the purpose and scope of application, instructions on the use of coefficient data for adjusting the cost value and graphically shows them depending on the value of land for the areas of counties, the City of Zagreb and large cities - a total of 45 administrative areas. This enables transparent and simple use of data for the purpose of real estate valuation of detached family houses and family houses in a row.
The initial state of the coefficient is relevant in the application of the valuation of detached family houses and family houses in a row if the procedures, sources and parameters specified in the document are used in the cost method. For example, for normal construction costs, data from the Standard Calculation of Works in Building Construction are used.
The application of the cost method for estimating the value of detached family houses and family houses in a row is not possible without the application of coefficients for adjusting the cost value.
"The initial balance of the coefficients for adjusting the cost value of detached family houses and terraced family houses in the territory of the Republic of Croatia, as of 01.01.2023" was prepared on the basis of the Real Estate Valuation Act, the Ordinance on Real Estate Valuation Methods and the Ordinance on the Real Estate Market Information System, which provided the necessary data for the purpose of assessing the value of detached family houses and terraced family houses.
The project is co-financed by the Operational Program Competitiveness and Cohesion within the project "Physical Planning Information System (ISPU) and its modules" (KK.02.2.1.01.0020).
When using the publication "Initial balance of coefficients for adjusting the cost value of detached family houses and family houses in a row in the territory of the Republic of Croatia, as of 01.01.2023", it is necessary to indicate the source of the data in the appraisal study and attach a page with the relevant graph for reading the coefficient.
Let us remind you that the Ministry is continuously improving and refining the eNekretnine system with new functionalities in order to make the use of data more transparent and reliable by authorized users, which contributes to a higher quality of real estate valuations and transparency of the real estate market.
The eReal Estate system is one of the 17 modules (applications) of the Physical Planning Information System (ISPU) developed and maintained by the Ministry. It enables an overview of the realized real estate turnover and real estate value bases, through a collection of purchase prices (ZKC) and a plan of approximate values (PPV). The application manages data that are necessary in the real estate valuation process, but also for the preparation of the annual review of the real estate market of the Republic of Croatia (published by the Ministry every year), and the preparation of annual reports on the real estate market (published by the administrative bodies of the county, the City of Zagreb or a large city for their area of jurisdiction). The eReal Estate module enables the preparation of numerous analyses related to the real estate market, the development and publication of plans of approximate land values, and in the near future plans of approximate values of flats/apartments for the entire territory of the Republic of Croatia. In addition to index series and coefficients for adjusting the cost value to the market value, the implementation of local interest rates is also planned, which will complete the necessary data for the preparation of estimates.
In the further process of development of the eNekretnine system, the plan is to implement and use data from the ISPU locator, ePermit, eCertificate, eCatalog and ePlans systems, as well as the introduction of building cadastre, infrastructure with application networking and digital development for systematic use in further planning, projects, investments in the field of the real estate market and real estate valuation.
More information is available HERE.
Published: 30/4/2024