German Properties Need Revaluation

According to Olaf Freier, managing director of HINTE and project manager for INTERGEO, the property sector is currently causing quite a stir. This is an area that will be given due consideration at the congress entitled 'Property valuation in 2020' which will make the Kölnmesse Exhibition Centre a focal point for the international geodesy, geoinformation and land management sectors.

Annual property sales in Germany total more than EUR140 billion, making the property market a key factor in the German economy and reflecting a high level of mobility in the sector. The market has shown itself to be highly robust even in the financial crisis and showed solid growth in the first half of 2010. Financial administration and official property valuation professionals will have the opportunity to share their thoughts and ideas during the INTERGEO Congress and set out their views on a topic that continues to generate political controversy. Land tax is an important source of revenue for local authorities, making up around 18% and accruing to them directly. The neutral data from the official land value appraisal committees could make a key contribution to restructuring land tax.

The INTERGEO Academy's integrated seminar 'New standards in national and international property valuation' will also help explore wider aspects. From Monday 4 to Tuesday 5 October, the INTERGEO Academy will offer a forum for extensive discussion of standardisation issues, including a look towards the future, in both a national and international context and with insights from high-profile experts. Property has long been a strategic element for international companies - for example, Europe's largest insurer recently acquired some 80 properties from Aldi Süd - and is therefore a driving force on key international markets.