According to the Immobilienwertermittlungsverordnung (German Real Estate Valuation Ordinance,
ImmoWertV) for short,
a total of three different methods are approved in Germany for valuing a property:
The actual value method: This involves the expert valuing a property with a focus on its material value.
The actual value relates to the structural fabric.
The comparative value method: With this method,
the real estate appraiser makes their valuation based on actual selling prices which are used as comparative values. These were achieved with comparable properties.
The income value method: With this method,
the expert values your property according to the income it would bring in as a rental property.