Definition: Cost approach
Land estimation
One of the three main methods of appraisal whereby the appraiser relies upon information about input costs for building a replacement of the structure and adds an estimated land value. Data on current cost of rebuilding and depreciation data adjusted to the local market are required.
Source:
Eurostat, Organization for Economic Cooperation and Development (OECD), "Eurostat-OECD compilation guide on land estimation", Luxembourg, Paris, 2015
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