What is the act of analyzing the economic worth of a property called?

The act of analyzing the economic worth of a property is called appraisal. Appraisal involves determining the market value of a property based on various factors such as location, condition, and recent comparable sales. This process is essential for making informed decisions in real estate transactions, financing, and investment purposes.

Valuation, while similar, is a broader term that encompasses determining the value of various assets or enterprises and doesn't specifically pertain only to property. Assessment generally refers to the process of determining the value of property for taxation purposes, which may not encompass all aspects of true market value. Estimation can refer to a less formal calculation of value and lacks the precision and formal methodology that an appraisal entails. Thus, appraisal is the most accurate term for the detailed analysis of a property's economic worth.