Property Valuation Principles
eBook - PDF

Property Valuation Principles

David Isaac, John O'Leary

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  1. 248 pages
  2. English
  3. PDF
  4. Available on iOS & Android
eBook - PDF

Property Valuation Principles

David Isaac, John O'Leary

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About This Book

This concise textbook is a user-friendly introduction to property valuation for students and practitioners who are new to the subject. The text covers the following key areas of study: valuation and markets, methods of valuation, the investment method in detail, taxation and statutory valuations, and the development appraisal and finance. It is packed with worked examples and photos, and covers the five main methods of valuation, their application in a variety of markets and their relation to the wider economic context. It aims to build knowledge and develop a subject vocabulary. This text is aimed primarily at undergraduates or students on postgraduate conversion courses in estate management, property, surveying, planning, design and construction disciplines.Professional advisors such as bankers, financial advisors, accountants, investors, analysts and lawyers should also find this text useful as an aid to their dealings in the property sector. New to this Edition:
- Discussion on the impact of sustainability on valuation
- End of chapter self-assessment questions provoke reflection with outline answers at the back of the book
- Each chapter begins with key aims and a list of key terms with their definitions
- Photographs illustrate different property characteristics and settings
- Includes even more worked examples, including buy-to-let residential properties and affordable housing

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Information

Publisher
Red Globe Press
Year
2017
ISBN
9781137017284
Edition
2
Topic
Business
Subtopic
Real Estate
Index
Business
value 
similar 
to 
market 
rented 
new 
properties 
on 
the 
business 
park 
and 
for 
this
unit 
that 
would 
equate 
£65,000 
net 
per 
annum. 
However 
there 
will 
be 
a 
one-
year 
void 
period 
when 
refurbishment 
work 
will 
be 
carried 
out 
during 
which
there 
will 
be 
business 
rates 
and 
letting 
fees 
to 
pay. 
It 
is 
anticipated 
that 
these
costs 
will 
amount 
to 
£80,000.
The 
calculation 
accompanying 
the 
above 
scenario 
is 
as 
follows.
Term 
of 
2 
years
Net 
annual 
rent
£45,000
YP 
for 
2 
years 
@ 
7%
1.8080
Value 
of 
the 
term
£81,360
1-year 
period 
for 
refurbishment 
and 
re-letting
Cost 
of 
work,
letting 
fees 
and 
business 
rates
£80,000
PV 
of 
£1 
in 
2 
years 
@ 
6%
0.8900
Present 
value 
of 
the 
costs
£71,200
Reversion
Net 
rent 
anticipated
£65,000
YP 
in 
perp.
@ 
8%
12.5
x 
PV 
of 
£1 
in 
3 
years 
@ 
8%
0.7938
YP 
in 
perp.
@ 
8% 
deferred 
3 
years
9.9225
Value 
of 
the 
reversion
£644,963
Total 
capital 
value 
having 
deducted 
costs 
of 
£71,200
£655,123
142
Property 
Valuation 
Principles
2-year 
term 
with
£45,000 
per 
annum 
rent 
passing
Re-letting 
at 
an 
annual 
rent 
of 
£65,000
1 
year 
void 
for 
refurbishment
and 
re-letting
costing 
£80,000
Rental 
Value
Years
Figure 
8.4
Term 
and 
reversion 
format 
depicting 
a 
refurbishment 
and 
re-letting
scenario

Table of contents