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What is Property Valuation /Appraisal Service? Property Appraisal is a process of determining the value, whether market value, investment value, insurance value, or other types of value, of a property on a certain valuation date. Determination of the value of a property according to the American Institute of Real Estate Appraiser (1987: 63) and Eckert et al. (1991: 151) can be done through three approaches, namely the market data comparison approach, the cost approach, and the income capitalization approach
There are many property valuation /appraisal services in Indonesia, they grow along with the development of the economy in Indonesia. In the assessment, the value referred to is always the market value, which is the value formed from the strength of demand and supply in the free market, without any intervention from anyone in normal market conditions (not in the midst of a recession or a booming market).
The value itself is actually an economic concept. An item will have value if the item is useful (has utility) and is able to provide satisfaction to humans and desired (desire). Goods will be more valuable if their useful value can be proven so that they are really needed (demanded) and are scarce.