Abstract:

The study is devoted to the issues of the process of real estate valuation, particularly taking into account the related risk factors. Its structure is subjected to the objective of the paper which is to identify these factors. The paper begins with the presentation of the theoretical background in order to present the appropriate context of the discussed research problem. At first, the market environment of real estate has been characterized, as the object of trade requiring valuation for effective investment decisions. Subsequently, the role and significance of value categories for economic decisions have been indicated. Then, the process of real estate appraisal standardization has been described. The subsequent part of the study includes the description of the relevant research results. In the study, various research approaches have been utilized. The qualitative approach using the methods, such as observation, standardized interview, analysis of diffuse sources allows the formulation of the research objectives. The methods of scientific reasoning, mainly analysis and synthesis, have been applied as well. The result of these operations has been the development of the survey. In the description of the research results, the qualitative approach has been used. This is the first stage of the broadly designed research, which will also include the qualitative analysis of the acquired data. The survey was conducted among Polish real estate appraisers. Due to the progressive standardization of the valuation process in the world, this research is largely universal in its nature and can be used to design own research by researchers from other countries or for the purposes of comparative studies.