![\"Ronny](\"https:\/\/ronnykazyska.de\/wp-content\/uploads\/2026\/08\/Ronny-Kazyska-1-scaled.jpg\")
<\/p>\n","protected":false},"excerpt":{"rendered":"The year of construction of a property is clearly defined.<\/p>\n
Its significance for the current value is limited.<\/p>\n
Two buildings constructed in the same year can develop very differently from an economic perspective. Condition, modernization, use, and market requirements change over time. <\/p>\n
For valuation purposes, the decisive factor is therefore not only when a property was constructed.<\/p>\n
What matters is how long the building can reasonably be expected to remain economically usable.<\/p>\n
This is what remaining useful life describes.<\/p>\n
It is not a technical forecast of when a building will cease to exist. A building can remain technically functional for many years while already having lost substantial economic usability. <\/p>\n
The opposite is equally possible.<\/p>\n
An older building can retain a high level of economic usability through continuous maintenance, modernisation, and a use that remains aligned with the market.<\/p>\n
Chronological age and economic age therefore do not necessarily correspond.<\/p>\n
Modernization can extend the remaining useful life.<\/p>\n
Deferred maintenance can reduce it.<\/p>\n
The decisive question is not whether measures have been carried out. What matters is whether they actually preserve or improve the property’s economic usability. <\/p>\n
A new facade alone does not resolve functional deficiencies.<\/p>\n
Modern technical equipment alone does not create market-aligned floor plans.<\/p>\n
A comprehensive modernisation, by contrast, can improve several value-relevant characteristics at the same time.<\/p>\n
Occupier requirements also change.<\/p>\n
Spaces that met market requirements at the time of construction may no longer meet today\u2019s requirements. Layout, technical specifications, energy requirements, access, and flexibility all influence future economic use. <\/p>\n
Location remains an important factor.<\/p>\n
An older building in a sought-after location may continue to attract a resilient occupier pool. A weaker location can restrict the economic perspective despite a more recent year of construction. <\/p>\n
Remaining useful life is therefore property-specific.<\/p>\n
It cannot be determined from the year of construction alone.<\/p>\n
This distinction is essential for valuation. The remaining economic useful life affects the capitalisation of future income and therefore directly influences the valuation result. <\/p>\n
An advanced building age does not automatically imply a low value.<\/p>\n
A recent year of construction does not guarantee long-term economic usability either.<\/p>\n
The decisive question remains whether the property continues to meet the requirements of its market.<\/p>\n
This includes its physical condition, degree of modernisation, potential uses, income-generating capacity, and marketability.<\/p>\n
Historic building fabric can remain economically resilient.<\/p>\n
Recent building fabric can become economically obsolete sooner than expected.<\/p>\n
The year of construction remains an important piece of information.<\/p>\n
It is, however, only the starting point of the assessment.<\/p>\n
The year of construction describes the past.<\/p>\n
What matters is the remaining economic usability.<\/p>\n
That is precisely where the importance of remaining useful life in real estate valuation becomes visible.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The year of construction of a property is clearly defined. Its significance for the current value is limited. Two buildings constructed in the same year can develop very differently from an economic perspective. Condition, modernization, use, and market requirements change over time. For valuation purposes, the decisive factor is therefore not only when a property […]<\/p>\n","protected":false},"author":5,"featured_media":4799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[120],"tags":[126,127,128],"hf_cat_post":[],"class_list":["post-4800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-valuation","tag-remaining-useful-life","tag-ronny-kazyska","tag-kazyska"],"acf":[],"_links":{"self":[{"href":"https:\/\/ronnykazyska.de\/en\/wp-json\/wp\/v2\/posts\/4800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ronnykazyska.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ronnykazyska.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ronnykazyska.de\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ronnykazyska.de\/en\/wp-json\/wp\/v2\/comments?post=4800"}],"version-history":[{"count":0,"href":"https:\/\/ronnykazyska.de\/en\/wp-json\/wp\/v2\/posts\/4800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ronnykazyska.de\/en\/wp-json\/wp\/v2\/media\/4799"}],"wp:attachment":[{"href":"https:\/\/ronnykazyska.de\/en\/wp-json\/wp\/v2\/media?parent=4800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ronnykazyska.de\/en\/wp-json\/wp\/v2\/categories?post=4800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ronnykazyska.de\/en\/wp-json\/wp\/v2\/tags?post=4800"},{"taxonomy":"hf_cat_post","embeddable":true,"href":"https:\/\/ronnykazyska.de\/en\/wp-json\/wp\/v2\/hf_cat_post?post=4800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}