Seminar – “International Experience in Real Estate Valuation”
- Post by: Valentas
- 2021-11-16
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Market Trends Assessment Center (MTVC) together with the Audit, Accounting, Asset Valuation, and Insolvency Management Service under the Ministry of Finance of the Republic of Lithuania (AVNT) on 5 November, organized a seminar – “International Experience in Real Estate Valuation”.
A total of 5 presentations were made during the seminar, of which 4 were presented by lecturers invited by MTVC.
• The first two presentations were given related to new standards and sustainability. The first report presented the latest developments in real estate valuation documents and standards (TeGoVa, IVS, and RICS). Much attention has been paid to the analysis of the impact of environmental, social, and corporate governance (ESG) on valuation. The second report presented sustainability trends and a methodology for assessing the sustainability of real estate.
• The third report was given by the Italian professor Maurizio D’Amato entitled “Capitalization rate, peculiarities of its calculation and practical examples”. The latest TeGoVa standard introduces the term ‘cyclical assets’, which relates to the measurement of the economic cycle. The standards do not currently provide a specific methodology, but Maurizio D’Amato presented his own methodology for calculating the capitalization rate according to the economic cycle.
• The fourth report was presented by Valentas Gružauskas, the CEO of MTVC – “Support tool for comparative valuation of real estate”. MTVC is implementing the European Union-funded project “Realization of a Real Estate Valuation Expert System Prototype”. During this presentation, several aspects were presented: the motivation of the developed tool and its relationship with the IVS, the functionality of the software, and a demonstration of the software.
• The latest presentation entitled “Sustainable Real Estate Development. Urbanization trends, solutions, development models” was presented by the lecturer invited by AVNT dr. Jūratė Šliogerienė. During the presentation, attention was paid to the concept of sustainability, new technologies, and examples of sustainable development in Lithuania and abroad were presented.
MTVC seeks to promote research in real estate and business valuation and is constantly collaborating with foreign researchers and valuers. Seminars are conducted in foreign languages, and synchronous translation is provided to provide relevant information on foreign markets to a larger audience. We hope that this initiative and cooperation with AVNT will be useful for Lithuanian appraisals.