Primarily used in connection with real estate. It is understood to mean the price which – at the time to which the determination relates – could be obtained in the course of business on the basis of the legal circumstances and actual characteristics, – the other properties and – the location of the property or other object of the valuation. Thus, the market value of a property is equivalent to the market value. In the 2004 amendment to the Building Code, this was also expressly stated in § 194 BauGB. – See valuation, fair value, inventory value, market value, mark-to-model approach, net asset value, current value.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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