Optimization of the Route Price Valuation Method for Commercial Land with Multiple Street Frontages—A Case Study of Quanzhou

The purpose of this paper is to analyze different valuation methods for commercial land with multiple street frontages to formulate a valuation method with the route price of main street frontage and sub-street frontage as the main valuation indicators. This paper is based on the route price valuation method of Quanzhou and Japan, through comparing and analyzing the valuation indicators and calculation formulas, it can be found that the differences between the two valuation methods for commercial land with multiple street frontages exist. In the case of Quanzhou, the valuation method only corrects the main street frontage route price, while the valuation method in Japan corrects the route price of each street frontage separately. As a result, according to the results of the comparative analysis, the current valuation method in Quanzhou is adjusted, and a valuation method is proposed that takes the route price of the main street frontage and sub-street frontage as the main valuation indicators. First, this research identifies the valuation indicators and calculation formulas related to multiple street frontages based on the documents related to the route price valuation methods of Quanzhou and Japan in order to clarify the current valuation methods and provide the foundation for the subsequent comparative analyses. Secondly, the comparative analysis of the different valuation methods for commercial land with multiple street frontages is based on the valuation indicators and calculation formulas. Among them, the current valuation method in Quanzhou corrects the main street frontage route price through the street frontage situation correction coefficient, whereas the valuation method in Japan corrects the route price of the main street frontage and sub-street frontage (side and back). Finally, according to the results of the comparative analysis and based on the current valuation method in Quanzhou, a valuation method is proposed with the route price of the main street frontage and sub-street frontage as the main valuation indicators.