For the most effective use of land

The author analyzes the question of the application of the principles appraisers the most efficient use of land in the process of real estate valuation. A comparison of the principles of most efficient use set out in the International Valuation Standards and Russian textbooks. An example of calculating the value of the land with the most efficient use. It is concluded that the purpose and the permitted use of land is one of the essential conditions of its operation.