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Considers that the relationship between a property′s trading potential and the tenant′s ability to pay rent is the basis of one of the five recognised methods of valuation: the profits (or accounts) method. Discusses the basic concept behind the methodology and investigates the circumstances under which surveyors currently use profits within their valuations. Concludes that more discussion between valuers and their clients on how they arrive at their valuations and the definitions of value that they use would be beneficial.
Valuers generally shy at specific allowances for taxation in their calculations. There should always be good reasons for making specific allowances (even NIL ones) in as…
Valuers generally shy at specific allowances for taxation in their calculations. There should always be good reasons for making specific allowances (even NIL ones) in as much as the much quoted ‘market’ is made up inevitably of tax payers and tax exempt bodies. There are many situations where the tax payers' bid can be the highest and thus create the ‘market’.
In 1899 the medical practitioners of Dublin were confronted with an outbreak of a peculiar and obscure illness, characterised by symptoms which were very unusual. For want of a better explanation, the disorder, which seemed to be epidemic, was explained by the simple expedient of finding a name for it. It was labelled as “beri‐beri,” a tropical disease with very much the same clinical and pathological features as those observed at Dublin. Papers were read before certain societies, and then as the cases gradually diminished in number, the subject lost interest and was dropped.
Valuation is the process of determining Market Value. Property valuation, as with the valuation of all assets, is an estimation of price in the market. It is value in…
Valuation is the process of determining Market Value. Property valuation, as with the valuation of all assets, is an estimation of price in the market. It is value in exchange. The valuer role is to determine the appropriate approach, the method and use the right model to achieve this aim as best as possible. It is a combination of analysing the market and determining the critical variables for the valuation method/model. The method is separate from the valuation process which should be followed (according to the International Valuation Standards Council Valuation Standards) regardless the valuation method chosen. There are valuation approaches, valuation methods and, as a subset of the methods, techniques or models.
This practice briefing is an overview of the Valuation Methods and Models available to the valuer and comments on the appropriateness of valuation each in assessing Market Value for specific property types.
This briefing is a review of the valuation methods and models and models that can be applied to determine market value.
The role of the valuer in practice is to identify the method of valuation and then apply the correct mathematical model for the valuation task in hand.
This provides guidance on how valuations can be presented to the client in accordance with the International Valuation Standards.