Property Investment Appraisal
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Beschreibung
This book explains the process of property investment appraisal- estimating both the most likely selling price (marketvalue) and the worth of property investments to individual orgroups of investors (investment value).
Valuations are important: they are used as a surrogate fortransactions in the construction of investment performance and theyinfluence investors and other market operators when transactingproperty. Valuations need to be trusted by their clients andvaluers therefore need to produce rational and objectivesolutions.
In a style that makes the theory as well as the practice ofvaluation accessible to students and practitioners, the authorsprovide a valuable critique of conventional valuation methods andargue for the adoption of more contemporary cash-flow methods. Theyexplain how such valuation models are constructed and give usefulexamples throughout.
The UK property investment market has been through periods ofboth boom and bust since the first edition of this text wasproduced in 1988 and the book includes examples generated by thedifferent market states: for example, complex reversions,over-rented situations and leasehold examples are in ready supplyand are examined fully by the authors. They have retained thebook's basic structure and thrust, setting out fundamentalinvestment and appraisal theory in Part One of the book, but addinga new chapter on building and modelling cash flows as a precursorto the investment material in Part Three.
The heart of the book remains the critical examination of marketvaluation models addressed in Part Two - it remains the casethat no other book addresses this issue in detail.
Autor*in
Andrew E. Baum
Themen in »Property Investment Appraisal«
Accounting Bewertung Business & Management Immobilien u. Grundbesitz Property & Real Estate Rechnungswesen Valuation Wirtschaft u. Management