Commercial property valuation: methods and case studies
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Chichester, West Sussex
Wiley
2019
|
| Schriftenreihe: | Wiley finance series
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Includes bibliographical references and index |
| Beschreibung: | xxii, 215 Seiten Illustrationen |
| ISBN: | 9781119512127 |
Internformat
MARC
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Datensatz im Suchindex
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| adam_text | Contents About the Authors xi Foreword by Andrew Baum xiii Foreword by Vincent Vinit xv 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 Z 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 Investments Development 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 xvii 1 1 1 2 2 2 3 3 5 6 7 9 10 10 13 13 14 15 16 16 17 17 18 19 19 24 28 ѴІІ
viii CONTENTS 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 Market Rental 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 29 29 30 30 31 31 32 33 33 33 34 34 35 35 36 36 37 41 41 41 43 43 45 47 49 53 53 53 56 56 CHAPTER 5 Sales Comparison Approach Methods 59 Approach and Application Criteria Direct Comparison Approach Hedonic Pricing Model Notes 59 60 63 65 CHAPTER 6 Income Capitalisation Comparison Approach Methods Approach and Application Criteria Direct Capitalisation Approach The Direct Capitalisation Approach Calculation Algorithm Projit and Loss Account of an Income-Producing Property 67 67 69 70 71
Contents 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 Approach Residual 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 Determining the Discount Rate from the Cap Rate Build-Up Approach Analysing the Opinions of Market Players on the Return Expected Notes CHAPTER 8 Structure uf the Valuation Report Executive Summary Preamble Description of the Property Market Analysis Valuation Conclusions Appendices Notes CHAPTER 9 Office Property Appraisal Description of the Property Choice of Valuation Method Market Analysis IX 78 78 81 82 83 83 85 88 90 90 90 91 94 97 97 101 103 103 104 107 107 108 110 113 114 117 119 122 122 127 128 128 128 133 134 134 135 135 137 137 139 139
x CONTENTS Valuation Choosing the Time Horizon Estimating the Cash Flows Determining the Terminal Value Determining the Discount Rate Calculating the Market Value of the Property Notes CHAPTER 10 High Street Retail Unit Appraisal Description of the Property Choice of Valuation Method Market Analysis Estimating the ERV Estimating the Cap Rate Estimating Vacancy and Leasing Time Estimating Refurbishment Costs Valuation Notes CHAPTER 11 Hotel Appraisal Description of the Property Choice of Valuation Method Market Analysis Macroeconomic Climate Supply and Demand Analysis Forecast ofAverage Rate and Occupancy Projection of Income and Expenses Valuation Notes CHAPTER 12 Development Projeet Appraisal Description of the Property Choice of Valuation Method Market Analysis Valuation of the Development Project Choosing the Time Horizon Estimating the Cash Flows Determining the Discount Rate Calculating the Market Value of the Development Project Notes 140 140 141 145 146 147 151 153 153 154 157 157 160 161 161 161 163 165 165 167 168 168 169 173 178 185 187 189 189 190 191 192 192 194 195 197 197 Glossary 199 Bibliography 205 Index 299
|
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
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| indexdate | 2024-07-10T08:34:38Z |
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| isbn | 9781119512127 |
| language | English |
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| physical | xxii, 215 Seiten Illustrationen |
| publishDate | 2019 |
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| spelling | Morri, Giacomo 1975- Verfasser aut Commercial property valuation methods and case studies Giacomo Morri, Paolo Benedetto Chichester, West Sussex Wiley 2019 xxii, 215 Seiten Illustrationen txt rdacontent n rdamedia nc rdacarrier Wiley finance series Includes bibliographical references and index Unternehmen (DE-588)4061963-1 gnd rswk-swf Immobilienbewertung (DE-588)4127531-7 gnd rswk-swf Commercial real estate / Valuation (DE-588)4123623-3 Lehrbuch gnd-content Unternehmen (DE-588)4061963-1 s Immobilienbewertung (DE-588)4127531-7 s DE-604 Benedetto, Paolo 1984- Verfasser aut Erscheint auch als Online-Ausgabe, PDF 978-1-119-51215-8 Erscheint auch als Online-Ausgabe, EPUB 978-1-119-51212-7 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=031460709&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Morri, Giacomo 1975- Benedetto, Paolo 1984- Commercial property valuation methods and case studies Unternehmen (DE-588)4061963-1 gnd Immobilienbewertung (DE-588)4127531-7 gnd |
| subject_GND | (DE-588)4061963-1 (DE-588)4127531-7 (DE-588)4123623-3 |
| title | Commercial property valuation methods and case studies |
| title_auth | Commercial property valuation methods and case studies |
| title_exact_search | Commercial property valuation methods and case studies |
| title_full | Commercial property valuation methods and case studies Giacomo Morri, Paolo Benedetto |
| title_fullStr | Commercial property valuation methods and case studies Giacomo Morri, Paolo Benedetto |
| title_full_unstemmed | Commercial property valuation methods and case studies Giacomo Morri, Paolo Benedetto |
| title_short | Commercial property valuation |
| title_sort | commercial property valuation methods and case studies |
| title_sub | methods and case studies |
| topic | Unternehmen (DE-588)4061963-1 gnd Immobilienbewertung (DE-588)4127531-7 gnd |
| topic_facet | Unternehmen Immobilienbewertung Lehrbuch |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=031460709&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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