Commercial property valuation : methods and case studies /
| Main Authors: | , |
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| Corporate Author: | |
| Format: | eBook |
| Language: | English |
| Published: |
Chichester, West Sussex, United Kingdom :
John Wiley & Sons, Ltd,
2019.
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| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
Table of Contents:
- Cover; Title Page; Copyright; Contents; About the Authors; Foreword; Foreword; Preface; Chapter 1 Introduction to Property Valuation; Determining the Valuation Requirement; The Subject of the Valuation; Purpose of the Valuation; Value to Be Estimated; Valuation Date; Definitions of Value; Market Value; Investment Value; Valuation Associations, Codes and Standards; Notes; Chapter 2 Economic Characteristics and Elements of Risks of Properties; Characteristics of Property Investments; Building and Land; Use of Space and Investment Asset; Owners and Users; Business Perspective; Location
- Categories of Property InvestmentsDevelopment Projects; Income-Producing Properties; Trading Operations; Skills in Asset and Investment Management; Economic Classification of Properties; Property Classification Criteria; Macro Categories of Properties; A Simple Definition of Risk; Common Risk Elements in Real Estate Investment; Capital Market; Liquidity; Financial Structure; Regulatory; Location; Intended Use and Type of Properties; Development Projects; Authorisation; Environmental; Construction-Related; Market; Income-Producing Properties; Physical and Technical Features
- Management and MarketRental and Contractual Situation; Notes; Chapter 3 Market Analysis; Economic Analysis; Analysis of the Property Market; Comparative Data and Valuation Method; Characteristics of the Comparative Factors and Information Sources; Notes; Chapter 4 A New Simple Classification of Valuation Methods; Choice of Valuation Method; Depreciated Cost Approach Methods; Introduction; Description; Use, Advantages, and Limitations of the Depreciated Cost Approach; Notes; Chapter 5 Sales Comparison Approach Methods; Approach and Application Criteria; Direct Comparison Approach
- Hedonic Pricing ModelNotes; Chapter 6 Income Capitalisation Comparison Approach Methods; Approach and Application Criteria; Direct Capitalisation Approach; The Direct Capitalisation Approach Calculation Algorithm; Profit and Loss Account of an Income-Producing Property; Use, Advantages, and Limitations of the Direct Capitalisation Approach; Application of the Direct Capitalisation Approach; Discounted Cash Flow Approach; Choosing the Time Horizon; Estimating the Cash Flows; Estimating the Terminal Value; Discounting the Cash Flows and Calculating the Asset Value
- Use, Advantages, and Limitations of the Discounted Cash Flow ApproachResidual Value Methods; Introduction; Single Period Residual Value Approach; Multiple Periods Residual Value Approach; Notes; Chapter 7 Property Return Rates; Measuring the Return on a Property Investment; Rates and Capital Market; Cap Rate; Definition and Description of the Cap Rate; Going-In and Going-Out Cap Rate; Discount Rate; Definition and Description of the Discount Rate; Consistency Between Discount Rate and Cash Flow; The Components of the Discount Rate; How to Estimate Property Return Rates; Market Extraction