Journal of Property Investment & Finance: Volume 33 Issue 3


Table of contents - Valuation Special Issue

Guest Editors: Professor Norman Hutchison

Hotel valuations earning multipliers – terminal value: Malta’s scenario

Denis Camilleri

The purpose of this paper is to establish whether a terminal value is a substantial amount of the final figure in a hotel’s valuation. Malta’s scenario has been delved into. This…

Capitalisation rates for commercial real estate investment decisions

John McDonald

The purpose of this paper is to present a basic model of commercial real estate valuation in which the capitalization rate is the critical variable, and to present empirical…


Towards a transaction-based hotel property price index for Europe

Sherif Roubi

The purpose of this paper is to fill an existing gap in the field. A transaction-based hotel price index for Europe is constructed to provide a true measure for hotel real estate…

Dilapidations in the UK – diminution valuations

David Gilbert

The purpose of this paper is to look at the practical considerations of valuations undertaken in the UK at the end of leases when the landlord and the tenant are negotiating on…


Years purchase revisited: quarterly in advance cash flows

Michael Patrick

– The purpose of this paper is to explain the derivation of the years purchase (YP) quarterly in advance formula.

Obsolescence – a cause for concern?

Richard Grover, Christine Grover

– The purpose of this paper is to review what is known about obsolescence and its causes, and provide a critique of how it is reflected in valuations.

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Emerald Publishing Limited

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  • Nick French