MANAGERIAL VIEW POINTS ABOUT SECURE INVESTMENTS IN REAL ESTATE BUSINESS

Ključna naloga managerjev pri sprejmanju odločitev o odobritvi oz. zavrnitvi hipotekarnega kredita je obvladovanje tveganj. Za ustrezno obvladovanje tveganj potrebujejo managerji banke ustrezne strokovne podlage in analize. Pri izvedbi analiz je potrebno veliko pozornost nameniti predmetu zavarovanja terjatev. V primeru zavarovanja kredita z nepremičninami zajema slednja temeljito vrednotenje v zastavo ponujene nepremičnine. V nalogi smo predstavili organizacijske postopke ter opredelili potrebno dokumentacijo za zahtevo za odobritev kredita. V okviru organizacijskih postopkov smo posebno pozornost namenili metodam vrednotenja nepremičnin, ki služijo kot zavarovanje terjatev za odobrene kredite. Temeljito smo obdelali metodo vrednostenja nepremičnin po kapitalizaciji donosov, predstavili pa smo tudi preostali dve, v strokovni javnosti priznani, metodi. In sicer nabavno vrednostno metodo in metodo vrednotenja zemljišč, ki zajema metodo primerljivih prodaj, metodo alokacije zemljišča in metodo razvoja zemljišča. Kot najprimernejšo metodo za zavarovanje kreditov z nepremičninami smo ocenili metodo kapitalizacije donosov, saj je vrednost poslovnih nepremičnin v časih gospodarske krize v največji meri odvisna od na njeni osnovi ustvarjene novo dodane vrednosti v prihodnosti.Risk management is the key task of managers in the process of decision taking regarding the approval or rejection of a mortgage loan. To be able to properly manage risks, bank managers require relevant supporting data and analyses. In performing respective analyses, a lot of attention should be paid to the object of security for the loan. If a loan is to be secured by real estate, thorough evaluation of the pledged real estate is very important. Organisational procedures are described and documents required for an application for approval of a loan defined. As regards organisational procedures, special attention was paid to the methods of evaluation of real estate serving as a security for an approved loan. The method of real estate evaluation based on capitalised return is discussed in detail, also presented are two remaining methods accepted by the professional community, i.e. the purchase value method and the real estate evaluation method consisting of the comparable sale method, land plot allocation method and land plot development method. The capitalised return evaluation method has been identified as the most suitable method in the case of securing of a loan with real estate since in the time of the economic crisis the value of commercial real estate depends primarily on the future added value created on the basis of such real estate