Interests And Behaviours Of Real Estate Market Actors In Commercial Property Valuation

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Interests and Behaviours of Real Estate Market Actors in Commercial Property Valuation

Alina Nichiforeanu
Interests and Behaviours of Real Estate Market Actors in Commercial Property Valuation Book PDF

Author : Alina Nichiforeanu
Publisher : Routledge
Page : 121 pages
File Size : 55,8 Mb
Release : 2020-07-26
Category : Business & Economics
ISBN : 9781000089646

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Interests and Behaviours of Real Estate Market Actors in Commercial Property Valuation by Alina Nichiforeanu Pdf

This book is a theory-led conceptual account of the Principal-Agent problem and related concepts of Behavioural Real Estate economics, a decade after the real estate crisis of 2008. Data from 52 qualitative interviews undertaken with appraisers, real estate brokers, and property owners is used to argue that the reality is more nuanced and influenced by the interests of the different real estate market actors. The book provides a sketch of the relationship dynamics between real estate investors and service providers in the markets of Austria and Central and Eastern Europe. While the investors manage real estate portfolios and have to deal with particular legal systems, regulations, and norms, they often appoint service providers who have a comprehensive understanding of the local context. This work aims to highlight that this relationship between the real estate market actors creates an information asymmetry that may constitute the basis of conflicts of interest as well as Principal-Agent problems. Furthermore, the work underlines that the services provided by appraisers and real estate brokers to investors may strongly influence the profit the investor can generate from a transaction. It could be therefore inferred that the investor inclines towards a certain type of result from a service provider over the others. The present research has revealed that the investors are guided by certain interests and undertake to steer the service providers in a favoured direction. This book is essential reading for anyone interested in the nuances of Behavioural Economics and real estate.

New Frontiers in Real Estate Finance

Patrick Lecomte
New Frontiers in Real Estate Finance Book PDF

Author : Patrick Lecomte
Publisher : Routledge
Page : 219 pages
File Size : 46,6 Mb
Release : 2021-06-03
Category : Business & Economics
ISBN : 9781000394979

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New Frontiers in Real Estate Finance by Patrick Lecomte Pdf

Introduces three innovative concepts and associated financial instruments with the potential to revolutionize real estate finance Covers methodological issues pertaining to real estate risk analysis factors Proposes concepts and methods for identifying, pricing and trading these new property rights. Essential reading for all real estate, finance and smart technology researchers and professionals

Marxism and Real Estate Development

Julian Roche
Marxism and Real Estate Development Book PDF

Author : Julian Roche
Publisher : Taylor & Francis
Page : 302 pages
File Size : 50,9 Mb
Release : 2023-09-01
Category : Business & Economics
ISBN : 9781000938128

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Marxism and Real Estate Development by Julian Roche Pdf

This book straddles two worlds and attempts to bring them together: that of Lefebvre's Marxism on the one hand, and that of real estate development on the other. Lefebvre has now become a household name amongst many contemporary Marxists, especially those with an interest in urban planning and certain quarters of the architectural profession, however his work is far less well known by real estate professionals, whether investors, developers, brokers, or, indeed, policymakers. Marxism and Real Estate: Taking Lefebvre Seriously has both a large scope and a very bold aim – to use an explication and analysis of the work of Henri Lefebvre not only to present a critique of development, but, also to draw these two worlds together. It therefore, first, aims to present the arguments of this increasingly well-known French Marxist philosopher, sociologist, and pioneer of urban studies; second, to situate contemporary real estate development in the light of Lefebvre's work; and third, to analyse the potential application of Lefebvre’s work to each of the major components of contemporary real estate, to use Lefebvre's work in order to recommend practical action for developers, working alongside planners and architects, to influence the future of global real estate. As well as its direction at developers themselves, this book should be of interest to economists, real estate researchers and professionals, planners, urban studies scholars and, of course, to those interested in the application of Lefebvre's work to real estate.

Commercial Property Valuation

Giacomo Morri,Paolo Benedetto
Commercial Property Valuation Book PDF

Author : Giacomo Morri,Paolo Benedetto
Publisher : John Wiley & Sons
Page : 245 pages
File Size : 53,9 Mb
Release : 2019-08-05
Category : Business & Economics
ISBN : 9781119512127

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Commercial Property Valuation by Giacomo Morri,Paolo Benedetto Pdf

A practical guide to the best approaches for commercial real estate value assessment Commercial Property Valuation provides a comprehensive examination of principles and methods of determining the accurate value of commercial assets. This invaluable resource covers all key elements of commercial property valuation, including valuation queries, real estate report structure, market analysis, capitalization and discount rates estimation, and more. This book details the economic characteristics unique to commercial property and illustrates property-specific risk factors and mitigation strategies. Drawing from years of professional and academic experience, the authors provide accurate information on multiple valuation approaches suitable for commercial real estate such as sales comparison, income capitalization and residual land value. Favoring real-world practicality over complex formulas, this book provides a powerful set of tools to assist readers in selecting and applying the best valuation approach to various situations. Actual case studies of office buildings, hotels, high street retails, and residential developments allow readers to understand and apply appropriate valuation methodologies. Commercial property is a major investment class that offers abundant opportunities but poses unique risks. Thorough and inclusive knowledge is essential to success in this complex and competitive sector of real estate. This book provides expert coverage of critical topics allowing readers to: Identify the unique economic characteristics and potential risks of commercial real estate valuation and investment Focus on methods specific to commercial real estate valuation Learn how to select and apply the appropriate valuation method in a variety of scenarios Access sample Excel spreadsheets and ancillary online resources including slides and useful Internet links Commercial Property Valuation is an essential resource for investors, appraisers, consultants, accountants, and students in real estate courses.

Property Valuation and Market Cycle

Maurizio d'Amato,Yener Coskun
Property Valuation and Market Cycle Book PDF

Author : Maurizio d'Amato,Yener Coskun
Publisher : Springer Nature
Page : 326 pages
File Size : 46,8 Mb
Release : 2022-09-28
Category : Political Science
ISBN : 9783031094507

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Property Valuation and Market Cycle by Maurizio d'Amato,Yener Coskun Pdf

This book discusses the role of the property market cycle in real estate valuation. Challenging traditional property valuation methods that rely on current market conditions and economic trends, this book argues for a re-evaluation of the relationship between property valuation and cycles in property markets. The book is divided into two parts. The first part gathers research on property market cycle analysis and the delicate problems dealing with property market information including the development of the real estate market index, appraisal bias, and the use of time series in plotting the market cycle. The second part proposes several possible modifications to the traditional income approach methodologies, including cyclical capitalization and the hedonic price method. Furthermore, this part also addresses the need for amendments to current s property valuation standards and institutional regulations. Written by an international cross-section of expert voices in market cycles and property valuation, the book is a comprehensive resource for any researcher or upper-level student studying economic volatility.

Real Estate Valuation Theory

Manya M. Mooya
Real Estate Valuation Theory Book PDF

Author : Manya M. Mooya
Publisher : Springer
Page : 185 pages
File Size : 53,9 Mb
Release : 2016-03-17
Category : Business & Economics
ISBN : 9783662491645

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Real Estate Valuation Theory by Manya M. Mooya Pdf

This monograph critically reviews and updates real estate valuation theory, which is based on neoclassical economics, in light of developments in heterodox economic theory. Building on a comprehensive historical account of the evolution of value theory, the book uses new institutional economics theory and critical realism as lenses through which problems in standard valuation theory and practice are expatiated, and as the foundation for an alternative theory. The new theory is employed to explain major problems in real estate valuation that are beyond the capability of the standard theory, such as price bubbles in real estate markets, anchoring bias, client influence and valuation under uncertain market conditions.

Routledge Companion to Real Estate Investment

Bryan D. MacGregor,Rainer Schulz,Richard K. Green
Routledge Companion to Real Estate Investment Book PDF

Author : Bryan D. MacGregor,Rainer Schulz,Richard K. Green
Publisher : Routledge
Page : 359 pages
File Size : 44,5 Mb
Release : 2018-12-07
Category : Business & Economics
ISBN : 9781317687856

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Routledge Companion to Real Estate Investment by Bryan D. MacGregor,Rainer Schulz,Richard K. Green Pdf

Real estate represents an increasingly significant global asset class and its distinctive characteristics must be understood by investors and researchers. The Routledge Companion to Real Estate Investment provides an authoritative overview of the real estate asset class. The Companion focuses on the current academic research and its relevance for practical applications. The book is divided into four parts, each containing specially written chapters by international experts in the relevant field. The contributors cover the institutional context for real estate investment, the main players in real estate investment, real estate appraisal and performance measurement, and real estate portfolios and risk management. This Companion provides a comprehensive reference for students, academics and professionals studying, researching and working in real estate investment, finance and economics.

Real Estate

Peter Dent,Michael Patrick,Xu Ye
Real Estate Book PDF

Author : Peter Dent,Michael Patrick,Xu Ye
Publisher : Routledge
Page : 243 pages
File Size : 47,8 Mb
Release : 2012-10-02
Category : Architecture
ISBN : 9781136306822

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Real Estate by Peter Dent,Michael Patrick,Xu Ye Pdf

Traditional studies of the property market have tended to focus solely on commercial and legal issues, but the growing importance of the issue of sustainability means that a different approach is needed. This new textbook provides an overview of property within a market context, examining the complex nature of property rights and issues related to both investors and occupiers. At the same time it assesses property from the perspective of financial, social and environment sustainability. Topics covered range from the characteristics of property and depreciation, to ownership and development through to investments and sustainability reporting. The book concludes with key skills in sustainable knowledge needed by those working in the real estate industry. Written by an author team of experienced property professionals, this essential introductory textbook is well suited for property, planning and architecture students on undergraduate, graduate and conversion courses, as well as those on CPD and training programmes in related areas.

The Economics of Commercial Property Markets

Michael Ball,Colin Lizieri,Bryan D. MacGregor
The Economics of Commercial Property Markets Book PDF

Author : Michael Ball,Colin Lizieri,Bryan D. MacGregor
Publisher : Psychology Press
Page : 422 pages
File Size : 54,7 Mb
Release : 1998
Category : Architecture
ISBN : 0415149932

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The Economics of Commercial Property Markets by Michael Ball,Colin Lizieri,Bryan D. MacGregor Pdf

With empirical examples drawn from around the world illustrating the theories and issues discussed, this text provides a rigorous analysis of real estate markets.

Property Valuation

Peter Wyatt
Property Valuation Book PDF

Author : Peter Wyatt
Publisher : John Wiley & Sons
Page : 455 pages
File Size : 54,6 Mb
Release : 2013-05-13
Category : Business & Economics
ISBN : 9781118624685

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Property Valuation by Peter Wyatt Pdf

This new edition of the ‘all in one' textbook for the postgraduate study of valuation on real estate courses retains its focus on the valuation and appraisal of commercial and industrial property across investment, development and occupier markets. It is structured from the client perspective and covers single-asset pricing, risk and return issues. The structure of the book has been substantially revised. Part A introduces the key microeconomic principles, focussing on land as a resource, production functions, supply and demand and price determination. The locational aspect of real estate is also introduced. Macroeconomic considerations are categorised by the main market sectors (and their function); the market for land (development), for space (occupation) and for money (investment). The economic context is set and the author then explains why property valuations are required and discusses the main determinants of value and how they might be identified. The mathematics required to financially quantify value determinants are also introduced. Part B of the book describes the methods of valuation; Part C applies these methods to the valuation of a range of property types for a wide variety of purposes; and Part D covers investment and development appraisal. The author introduces valuation activities from a broad economic perspective, setting valuation in its business finance context and combining its academic and practical roots. Changes in this second edition include: less daunting economics expanded companion website with PowerPoint slides for lecturers, self-test Questions & Answers for students: see www.wiley.com/go/wyattpropertyvaluation up-to-date case studies and sample valuations reference to the newly-published Red Book (the valuer’s bible) Property Valuation with its user-friendly format, using tried-and-tested teaching and learning devices and a clear writing style, remains the core text for students on real estate, estate management and land economy degree courses, as well as for fast-track conversion courses for non-cognate graduates.

Information Economics with Real Estate Applications

Fredrik Armerin,Madeleine Viktoria Hoeft
Information Economics with Real Estate Applications Book PDF

Author : Fredrik Armerin,Madeleine Viktoria Hoeft
Publisher : Taylor & Francis
Page : 202 pages
File Size : 51,5 Mb
Release : 2023-06-13
Category : Business & Economics
ISBN : 9781000886689

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Information Economics with Real Estate Applications by Fredrik Armerin,Madeleine Viktoria Hoeft Pdf

Information Economics with Real Estate Applications provides the reader with an academic toolkit to understand strategic interactions of individuals and companies in a world of scarce resources and asymmetric information. Beyond theoretical frameworks and models, examples in the real estate and construction industry are used to illustrate the practical relevance of the concepts discussed. Property developers, brokers, construction firms and investment managers – as individuals or companies – make decisions in response to their clients’, customers’ and partners’ behaviours. To align conflicting interests and achieve optimal outcomes for individuals, companies and society at large, those interactions need to be governed efficiently. Using models from microeconomics and contract theory, this book helps the reader to analyse the complex relations between different industry stakeholders from the perspective of markets and organisations. Although it mainly targets students at the Masters or PhD level in real estate or similar subjects without previous knowledge in information economics, the general theory presented should be of interest to any student who wants an introductory text in information economics. At the same time, by building upon real-world examples, the book allows industry practitioners to reflect on and optimise their strategic decision-making in a more structured way.

Advanced Issues in Property Valuation

Hans Lind,Bo Nordlund
Advanced Issues in Property Valuation Book PDF

Author : Hans Lind,Bo Nordlund
Publisher : John Wiley & Sons
Page : 164 pages
File Size : 46,8 Mb
Release : 2021-05-24
Category : Business & Economics
ISBN : 9781119783367

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Advanced Issues in Property Valuation by Hans Lind,Bo Nordlund Pdf

Discover an insightful new text covering advanced problems in real property valuation In Advanced Issues in Property Valuation, real estate valuation experts and authors Hans Lind and Bo Nordlund provide a deep understanding of the concepts, theories, methods and controversies in property valuation. The book introduces readers to controversies and discussions in real estate valuation, including the relevance of market value for valuation for lending purposes, how uncertainty in property valuations should be interpreted, and the relationship between market value and fair value in financial reporting. Readers will also benefit from the inclusion of: A thorough introduction to the concepts, theories, methods and problems in real estate property valuation An exploration of the relevance of market value for valuation for lending purposes A practical discussion of how uncertainty in property valuations should be interpreted A concise treatment of the relationship between market value and fair value in financial reporting An examination of how concerns about sustainability and other structural changes can affect property valuation Perfect for graduate level students in courses involving valuation or real estate, Advanced Issues in Property Valuation is also an excellent resource for real estate practitioners who wish to update and deepen their knowledge about property valuation.

Personal Finance and Investments

Keith Redhead
Personal Finance and Investments Book PDF

Author : Keith Redhead
Publisher : Routledge
Page : 936 pages
File Size : 45,5 Mb
Release : 2008-09-15
Category : Business & Economics
ISBN : 9781134088386

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Personal Finance and Investments by Keith Redhead Pdf

In this book, the author draws from finance, psychology, economics, and other disciplines in business and the social sciences, recognising that personal finance and investments are subjects of study in their own right rather than merely branches of another discipline. Considerable attention is given to topics which are either ignored or given very little attention in other texts. These include: the psychology of investment decision-making stock market bubbles and crashes property investment the use of derivatives in investment management regulation of investments business. More traditional subject areas are also thoroughly covered, including: investment analysis portfolio management capital market theory market efficiency international investing bond markets institutional investments option pricing macroeconomics the interpretation of company accounts. Packed with over one hundred exercises, examples and exhibits and a helpful glossary of key terms, this book helps readers grasp the relevant principles of money management. It avoids non-essential mathematics and provides a novel new approach to the study of personal finance and investments. This book will be essential for students and researchers engaged with personal finance, investments, behavioural finance, financial derivatives and financial economics. This book also comes with a supporting website that includes two updated chapters, a new article featuring a behavioural model of the dot com, further exercises, a full glossary and a regularly updated blog from the author.

European Valuation Practice

A. Adair,M.L. Downie,S. McGreal,G. Vos
European Valuation Practice Book PDF

Author : A. Adair,M.L. Downie,S. McGreal,G. Vos
Publisher : Taylor & Francis
Page : 355 pages
File Size : 50,7 Mb
Release : 2013-03-07
Category : Architecture
ISBN : 9781135821197

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European Valuation Practice by A. Adair,M.L. Downie,S. McGreal,G. Vos Pdf

outlines variations in valuation practice across Europe focuses on techniques and practice in each country unique overview of real estate valuation in Europe

Transience and Permanence in Urban Development

John Henneberry
Transience and Permanence in Urban Development Book PDF

Author : John Henneberry
Publisher : John Wiley & Sons
Page : 304 pages
File Size : 40,5 Mb
Release : 2017-03-21
Category : Business & Economics
ISBN : 9781119055686

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Transience and Permanence in Urban Development by John Henneberry Pdf

Temporary urban uses – innovative ways to transform cities or new means to old ends? The scale and variety of temporary – or meanwhile or interim – urban uses and spaces has grown rapidly in response to the dramatic increase in vacant and derelict land and buildings, particularly in post-industrial cities. To some, this indicates that a paradigm shift in city making is underway. To others, alternative urbanism is little more than a distraction that temporarily cloaks some of the negative outcomes of conventional urban development. However, rigorous, theoretically informed criticism of temporary uses has been limited. The book draws on international experience to address this shortcoming from the perspectives of the law, sociology, human geography, urban studies, planning and real estate. It considers how time – and the way that it is experienced – informs alternative perspectives on transience. It emphasises the importance, for analysis, of the structural position of a temporary use in an urban system in spatial, temporal and socio-cultural terms. It illustrates how this position is contingent upon circumstances. What may be deemed a helpful and acceptable use to established institutions in one context may be seen as a problematic, unacceptable use in another. What may be a challenging and fulfilling alternative use to its proponents may lose its allure if it becomes successful in conventional terms. Conceptualisations of temporary uses are, therefore, mutable and the use of fixed or insufficiently differentiated frames of reference within which to study them should be avoided. It then identifies the major challenges of transforming a temporary use into a long-term use. These include the demands of regulatory compliance, financial requirements, levels of expertise and so on. Finally, the potential impacts of policy on temporary uses, both inadvertent and intended, are considered. The first substantive, critical review of temporary urban uses, Transience and Permanence in Urban Development is essential reading for academics, policy makers, practitioners and students of cities worldwide.