ImmoWertV

ImmoWertV stands for Immobilienwertermittlungsverordnung, the German regulation that standardizes the procedures for determining the value of real estate and related rights in Germany. It prescribes the accepted valuation methods and the workflow used by appraisers, public authorities, banks, and other institutions when official or market valuations are required.

The regulation codifies the three main approaches used in real estate appraisal: das Vergleichswertverfahren (comparable sales method), das Ertragswertverfahren (income approach), and das Sachwertverfahren (cost approach). It specifies when each method should be applied based on property type, data availability, and typical use, and it outlines how to derive the Verkehrswert, or market value, from the selected method. ImmoWertV also defines data requirements and calibration factors, including property characteristics, location factors, rental income, construction costs, depreciation, and condition adjustments.

Application and users of ImmoWertV include public valuation authorities, certified appraisers, and financial institutions. Valuations carried out under the regulation are used for official purposes such as taxation, real estate transfers, collateral assessments for loans, and other legal or administrative processes. The rule often interfaces with local land registries, official land value data, and the activities of Gutachterausschüsse (appraisal committees) that collect market information and publish comparables and value statistics.

Scope covers various real estate assets, including residential, commercial, and special property types, as well as land with or without buildings. The ImmoWertV is periodically updated to reflect market developments and changes in national and EU standards, ensuring consistency and transparency in real estate valuation across Germany.