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In real estate appraisal, the cost approach is one of three basic valuation methods. The others are market approach, or sales comparison approach, and income approach. The fundamental premise of the cost approach is that a potential user of real estate won't, or shouldn't, pay more for a property than it would cost to build an equivalent. The cost of construction minus depreciation, plus land, therefore is a limit, or at least a metric, of market value.

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  • Kostuen hurbilketa (eu)
  • Cost approach (en)
  • 原価法 (ja)
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  • 原価法(げんか)とは、不動産鑑定評価等において不動産の価格を求める手法の一つである。以下、基本的に不動産鑑定評価基準による。 原価法は、価格時点における対象不動産の再調達原価を求め、この再調達原価について減価修正を行って対象不動産の価格を求める手法であり(この手法による価格を積算価格という)、対象不動産が建物又は建物及びその敷地である場合において、再調達原価の把握及び減価修正を適切に行うことができるときに有効である(対象不動産が土地のみである場合においても、再調達原価を適切に求めることができるときはこの手法を適用することができる)。なお、対象不動産が土地のみである場合においては、一般的に再調達原価を適切に求めることが困難なためにこの手法の適用が困難とされるが、再調達原価を適切に求めることができるときはこの手法を適用することができるものとされる。 (ja)
  • In real estate appraisal, the cost approach is one of three basic valuation methods. The others are market approach, or sales comparison approach, and income approach. The fundamental premise of the cost approach is that a potential user of real estate won't, or shouldn't, pay more for a property than it would cost to build an equivalent. The cost of construction minus depreciation, plus land, therefore is a limit, or at least a metric, of market value. (en)
  • Ondasun higiezinen balorazioan, kostuen hurbilketa edo cost approach, hiru balorazio metodoetako bat da. Beste biak, merkatu-hurbilketa eta sarreren hurbilketa dira. Kostuen hurbilketaren funtsezko premisa da ondasun higiezinen erosle potentzialek ez luketela ondasun baten truke bat eraikitzeak izango lukeen kostua baino gehiago ordaindu behar. Beste hitz batzuetan esanda, k ondasun baten truke ordaindu beharko luketenak ondasun baliokide bat eraikitzearen kostua berdindu beharko luke. Kostuaren hurbilketa = Lurraren kostua + eraikuntzaren kostua – depreziazioa (eu)
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  • In real estate appraisal, the cost approach is one of three basic valuation methods. The others are market approach, or sales comparison approach, and income approach. The fundamental premise of the cost approach is that a potential user of real estate won't, or shouldn't, pay more for a property than it would cost to build an equivalent. The cost of construction minus depreciation, plus land, therefore is a limit, or at least a metric, of market value. There are some fairly large assumptions embedded here. One of the basics is that there is a sufficient supply of buildable land that construction is a viable alternative to purchase of an existing property. In some parts of the world today, including in the US, there are areas which are either so fully developed, or so restrictive in their planning approvals, that new construction is not an option because of the scarcity of land. A related question is whether the building in question is anything that would actually be built again in that market. If the trend of development favors, say, high volume warehousing, would anyone consider building a multi-story manufacturing facility? If the trend is to high density condominium buildings, would anyone consider building a detached house? The cost of constructing an obsolete building isn't considered relevant to market value. There are other methodological issues which can be problematic. How do you estimate cost? Is it based on reproduction of an exact replica or something that is judged to be functionally equivalent? Can you even estimate cost very exactly? When a project is put up to bid, is there not usually a range of prices offered for the same plans and specifications? Is the final cost of a project equal to the original bid? How should profit be treated? Some maintain that the cost approach will normally be the highest of the three approaches. At the same time it is a truism that a project is only feasible if its projected cost is less than its completed value. In between new and totally obsolete various negative elements related to age, fashion and change (depreciation) will accrue. These are lumped into physical (wear, tear and deterioration), functional (look, feel, form and style), and locational (the influence of factors outside the property itself). It is generally considered that the cost approach gives the best indication of market value when the property in question is new and an appropriate (highest and best) use. (en)
  • Ondasun higiezinen balorazioan, kostuen hurbilketa edo cost approach, hiru balorazio metodoetako bat da. Beste biak, merkatu-hurbilketa eta sarreren hurbilketa dira. Kostuen hurbilketaren funtsezko premisa da ondasun higiezinen erosle potentzialek ez luketela ondasun baten truke bat eraikitzeak izango lukeen kostua baino gehiago ordaindu behar. Beste hitz batzuetan esanda, k ondasun baten truke ordaindu beharko luketenak ondasun baliokide bat eraikitzearen kostua berdindu beharko luke. Kostuaren hurbilketa = Lurraren kostua + eraikuntzaren kostua – depreziazioa Dena den, ondasunen balioa estimatzeko metodo honen inguruan badaude zalantzak edo eztabaidak. Izan ere, nola zenbatetsi daiteke zerbaiten kostua? Erreplika zehatz batean edo funtzionalki baliokidea den zerbaitetan oinarritua dago? Proiektu baten bukaerako kostua hasierako eskaintzaren berdina da? Batzuen ustez, hurbilketa motetatik kostuen hurbilketa hiruetatik hoberena da. Aldi berean, bistakoa da proiektu bat soilik bideragarria dela proiektatutako kostua bere baino txikiagoa bada. Orokorrean, ondasuna berria denean kostuen hurbilketa merkatu-balioaren adierazlerik onena dela irizten da. (eu)
  • 原価法(げんか)とは、不動産鑑定評価等において不動産の価格を求める手法の一つである。以下、基本的に不動産鑑定評価基準による。 原価法は、価格時点における対象不動産の再調達原価を求め、この再調達原価について減価修正を行って対象不動産の価格を求める手法であり(この手法による価格を積算価格という)、対象不動産が建物又は建物及びその敷地である場合において、再調達原価の把握及び減価修正を適切に行うことができるときに有効である(対象不動産が土地のみである場合においても、再調達原価を適切に求めることができるときはこの手法を適用することができる)。なお、対象不動産が土地のみである場合においては、一般的に再調達原価を適切に求めることが困難なためにこの手法の適用が困難とされるが、再調達原価を適切に求めることができるときはこの手法を適用することができるものとされる。 (ja)
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