Cost approach

Applying the depreciated replacement cost method when assessing the market value of public property lacking comparables and income data

The growing interest in the enhancement, management, and sale of public building stock has increased the importance of their valuation and, as a result, the need to identify suitable methods for estimating value that take into account their peculiarities. They often boast architectural features (interfloor distance, layout, finishings, types of wiring/heating systems, etc.) that make them ‘extraordinary’ assets; in some cases, these features also endow them with monumental and/or historical importance. Thus, when valuating, it is necessary to adopt suitable methods.

The Assessment of Public Buildings with Special Architectural Features Using the Cost Approach

The growing interest in issues to do with the administration, enhancement and sale of public building stock has increased the need for their
valuation and, as a result, has increasingly highlighted the need to identify suitable methods for estimating value that take into account the peculiarities of
public buildings. In Italy, public buildings often boast ‘special’ architectural features (interfloor distance, layout, finishings, type of wiring/heating systems,

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