Cost and Experience based Real Estate Estimation Model

In many ways, Bosnia and Herzegovina, Croatia and Macedonia are specific countries. After the war and the breakup of Yugosavia their real estate market, especially the residential one, has been exposed to major changes. This paper presents both a comparative overview of the legislative regulations regarding the matter and an experience review with a special emphasis on data obtained in the real estate agencies and by independent surveyors – civil engineers. As a result of a comprehensive analysis, a model that can be applied in all three countries has been established and presented in this paper. The model, supported by MS Excel, is based on the cost method and depends on the real estate market current trends. The model can be easily applied and modified.