Описание: Provides a revolutionary conceptual framework and practical tools to quantify uncertainty and recognize the value of flexibility in real estate development
This book takes a practical "engineering" approach to the valuation of options and flexibility in real estate. It presents simple simulation models built in universal spreadsheet software such as Microsoft Excel(R). These realistically reflect the varying and erratic sources of uncertainty and price dynamics that uniquely characterize real estate. The text covers new analytic procedures that are valuable for existing properties and enable a new, more profitable perspective on the planning, design, operation, and evaluation of large-scale, multi-phase development projects. The book thereby aims to significantly improve valuation and investment decision making.
Flexibility and Real Estate Valuation under Uncertainty: A Practical Guide for Developers is presented at 3 levels. First, it introduces and explains the concepts underlying the approach at a basic level accessible to non-technical and non-specialized readers. Its introductory and concluding chapters present the important "big picture" implications of the analysis for economics and valuation and for project design and investment decision making.
At a second level, the book presents a framework, a roadmap for the prospective analyst. It describes the practical tools in detail, taking care to go through the elements of the approach step-by-step for clarity and easy reference.
The third level includes more technical details and specific models. An Appendix discusses the technical details of real estate price dynamics. Associated web pages provide electronic spreadsheet templates for the models used as examples in the book.
Some features of the book include: - Concepts and tools that are simple and accessible to a broad audience of practitioners; - An approach relevant for all development projects; - Complementarity with the author's Commercial Real Estate Analysis & Investments--the most-cited real estate investments textbook on the market.
Flexibility and Real Estate Valuation under Uncertainty: A Practical Guide for Developers is for everyone studying or concerned with the implementation of large-scale or multi-phase real estate development projects, as well as property investment and valuation more generally.
Автор: Baum Название: The Income Approach to Property Valuation ISBN: 113863963X ISBN-13(EAN): 9781138639638 Издательство: Taylor&Francis Рейтинг: Цена: 4224.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание:
A classic textbook that has guided generations of students through the intricacies of property valuation, The Income Approach to Property Valuation remains a keen favourite amongst students and teachers alike. This new edition has been thoroughly revised and updated to meet the increasingly international perspectives of modern Real Estate students. The links between theory and practice are clearly demonstrated throughout, with a range of new international case studies and practice-based examples. The Income Approach to Property Valuation teaches readers:
how to analyse market rents and sales prices to derive market evidence to support an opinion of market value;
the investment method of valuation and how it is applied in practice;
how specific legal factors can impact on market value when they interfere with market forces;
what the market and the profession may consider to be the 'right' methodology in today's market place; and
how to use spreadsheets in valuation.
This extensively revised new edition is perfect both for students on Real Estate courses worldwide and for professional candidates working towards their final assessment of professional competence (APC) for the Royal Institution of Chartered Surveyors, needing to demonstrate a valuation competence at levels 2 and 3.
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