Scholarly record

THE IMPORTANCE OF CULTURAL MONUMENTS IN THE VALUATION CONTEX

Martina Varechova, David Brandejs, Vítězslava Hlavinková, Pavel Klika, Karel Schmeidler

Abstract

The growing importance of a cultivated environment with a high population density was an incentive for the authors to find and compile a new, more sensitive sophisticated approach to the valuation of immovable cultural monument. Primarily, objects with significant historical and architectural value were examined, for which there was a high possibility of finding and defining suitable criteria with an impact on the valuation of real estate. The research focused on immovable cultural monuments located in the statutory city of Brno. Brno is an important cultural and historical center of Central Europe, including a privileged monument inscribed on the UNESCO World Heritage List – Villa Tugendhat. The correct data were used, especially from following institutions: the Monument Catalog of the National Monuments Institute, the Czech Geodesy and Land register Office, the Czech Statistical Office. The list of types of monuments is very diverse, from technical monuments through castles and devotional pillars. In focusing on the goal of the research, it was necessary to select a sufficiently large group of properties with the same use. In the selection, you can find both, listed and not listed buildings. This basic condition is best met by detached and apartment houses. In order to take into account, the qualitative parameters of an immovable cultural monument with a possible housing function, a comparison was made with the value of similar buildings without cultural significance. All 48 Brno cadastral areas were examined. In parallel with the classical methods of real estate valuation, the hedonic method will be used, which within the regressive analysis allows to find and quantify even intangible factors, which are undoubtedly part of the value of cultural monuments.

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