Regulations on Real Estate Appraisal Article 56

The indirect method comprises two approaches as follows:1. Building cost comparison method: Comparing the differences of individual preliminary construction items between the subject property and the comparable properties or the standard building to derive the construction or building cost through adjustment by construction price and construction volume ratio.2. Unit square (or Cubic) method: On the basis of unit square (cubic) construction or building cost of comparable properties or the standard building to adjust price for the differences between them and the subject property by comparison, multiplied by the square (cubic) units of the subject property to derive the construction or building cost of the subject property.The standard building stated in the above paragraph refers to the building constructed or built in accordance with the construction or building cost standard table.The construction or building cost standard table stated in the preceding paragraph should be announced by the National Association of Real Estate Appraiser Guilds (“National Association” is hereafter called) based on different kinds of main building structure and areas. Prior to announcement being made, the construction or building cost is estimated on the basis of the standard unit price table for the purpose of investigating land value promulgated by Special Municipality or County / City government.