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Nuri ERDEM and Mehmet CETE, TurkeyÂ
Real estate values are needed in many activities such as real estate sale, taxation, compulsory purchase, mortgage, insurance, privatization and nationalization. Therefore, countries build up their valuation systems and determine the real estate values both to use in different applications and to provide transparency in the market. Similar to the situation in many other systems, real estate valuation systems need to be re-engineered over time based on the changing expectations of societies, new organizational structures, modern trends, technological developments and so on.Â
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