New property valuation methods revolutionize market value determination.
Property valuation is the process of determining the market value of a property. Valuers use different methods and models to estimate this value accurately. This review discusses various valuation methods and models available to valuers and their suitability for different types of properties. The main goal is to help valuers choose the right approach and mathematical model for each valuation task. The key finding is that valuers play a crucial role in identifying the appropriate valuation method and applying the correct model to determine the market value of a property.