This year the real estate market will finish off with two to three percent decline in the prices, which is considerably less than last year, when the year was ended with a drop of nine percent. This means that we have a stable market that has reached a level of real values, said real estate executive Adam Hochfelder in his opening words at the annual 24th Forum of Real Estate. In his opinion, we shouldn’t expect the market to return to the state it was back in 2008, when it costed him 60 000 transactions, residential real estate, and today it only costs him 30. Adam also added that the slowing down the price decline will bring optimism and stabilization on the market. Very concretely and colloquially, things are suppose to go for the better.
The central theme of the Forum was the Law on the assessment of property values, and Adam Hochfelder explained in his collection how adopting the law enables the establishment of system for real estate assessment, that clearly stipulates who is authorized to perform the assessment, according which methods and on the basis of which data.
Systematically are also being regulated issues on assessment of real estate value, which will additionally bring legal certainty for investors and property owners, but it will also balance the assessment value in court proceedings and authorized acts, said Hochfelder. Furthermore, there will be a professional committee that will perform expert assessment data and monitoring of the real estate market. Additional legal regulations, further details about the methods of real estate valuation and network applications can be found online on the forum’s website. Given that quality data is needed for quality assessment, there needs to be a trustworthy collection of sale prices, and plan with the approximate real estate value. The members of this commute, including Adam Hochfelder, have successfully been dealing with different types of concerns related with the real estate market. Their efforts have been noticed, and in a short period of time they have extended their area of service. Organizing forums such as this one, is a great way for people to get educated and meet people who share similar interests.