Search results

Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.

Addresses the issue of valuation variation. The fundamental research question is to establish the range of valuations which a group of qualified valuers operating in the same market and using the same basic assumptions would produce in their estimation of price. It significantly extends the approach adopted by Hager and Lord and draws conclusions about different market sectors, locations and size of firms. The results of the survey show a wide variation in value across both rack rented and reversionary interests. In terms of the former over 80 per cent of all valuations produced a variation from the mean of less than 20 per cent with a corresponding figure of over 90 per cent for the reversionary investments. These levels of accuracy fall short of the contention that valuers can value to within 5‐10 per cent of market value.

Valuation accuracy usually conjures up images of empirical studies of comparisons between sales and valuations and different valuations of the same properties, and a number of references to these studies are included in the paper. However, this paper concentrates on the institutional influences which impact on valuations and their accuracy. The overall aim of this paper is to examine the legal interpretation of valuation inaccuracy in the UK. This might seem a bit parochial in the context of a World Valuation Congress. However, cases in many countries in the Commonwealth form precedents for each other and therefore decisions in, for example, the UK and Australasia, are drawn on by others in reaching decisions. The paper also reaches conclusions which have wider implications for all jurisdictions which have valuation disputes settled in courts, tribunals and any other quasi‐judicial body.

The paper's purpose is to review the growth of computer supported valuation models and the increased access via information technology to property data in the world of property taxation. The paper aims to stimulate debate on what the short/medium term future may hold. Is there room for both traditional valuation surveying skills and computer mass appraisal models in the enlightened property taxation world, where transparency and access to property data is expected?

The paper compares and contrasts developments and trends in the use of automated valuation models (AVMs) across the world to assess property for local taxation purposes. It focuses in detail on three automated property taxation valuation systems of which the author has working knowledge and experience: Valuation Office Agency – Council Tax (Dwellings) and Non Domestic Rating (Commercial); Northern Ireland Valuation and Lands Agency – Domestic (Dwellings); Hong Kong Rating and Valuation Department (Dwellings and Commercial) property. The paper also considers the progress made in access to property data and data storage/retrieval.

Automated valuation programmes assist in the production of a valuation but its quality and accuracy are data and valuer led. One size does not fit all and there is no automated replacement for the subjective professional judgement of the valuer.

This paper considers the challenges, opportunities and possible problems when using computer driven valuation models for property taxation purposes.

Building information modeling (BIM) is a striking development in the architecture, engineering and construction (AEC) industry, which provides in-depth information on different stages of the building lifecycle. Real estate valuation, as a fully interconnected field with the AEC industry, can benefit from 3D technical achievements in BIM technologies. Some studies have attempted to use BIM for real estate valuation procedures. However, there is still a limited understanding of appropriate mechanisms to utilize BIM for valuation purposes and the consequent impact that BIM can have on decreasing the existing uncertainties in the valuation methods. Therefore, the paper aims to analyze the literature on BIM for real estate valuation practices.

This paper presents a systematic review to analyze existing utilizations of BIM for real estate valuation practices, discovers the challenges, limitations and gaps of the current applications and presents potential domains for future investigations. Research was conducted on the Web of Science, Scopus and Google Scholar databases to find relevant references that could contribute to the study. A total of 52 publications including journal papers, conference papers and proceedings, book chapters and PhD and master's theses were identified and thoroughly reviewed. There was no limitation on the starting date of research, but the end date was May 2022.

Four domains of application have been identified: (1) developing machine learning-based valuation models using the variables that could directly be captured through BIM and industry foundation classes (IFC) data instances of building objects and their attributes; (2) evaluating the capacity of 3D factors extractable from BIM and 3D GIS in increasing the accuracy of existing valuation models; (3) employing BIM for accurate estimation of components of cost approach-based valuation practices; and (4) extraction of useful visual features for real estate valuation from BIM representations instead of 2D images through deep learning and computer vision.

This paper contributes to research efforts on utilization of 3D modeling in real estate valuation practices. In this regard, this paper presents a broad overview of the current applications of BIM for valuation procedures and provides potential ways forward for future investigations.

This paper aims to examine the compensation practices and the valuation methods valuers apply in the context of the current legal framework for expropriation to assess compensation for farms impacted by mining in Ghana.

Compensation reports and archival materials were examined to identify the issues related to the valuation methods, compensation practices and expropriation procedures in the mining sector. Interviews were then conducted with 35 farmers and farmers' representatives, officials of mining companies, representatives of the Land Valuation Division of the Lands Commission and valuers/researchers on the issues identified through the document analysis.

The results reveal that the lack of express standards for assessing compensation for mining-impacted crops has occasioned variations in the valuation methods and the standard crop population for compensation. The study further reveals the impacts of exchange rate distortions on crop compensation values.

The study empirically substantiates the arguments for a revised compensation regime in Ghana's mining sector. Valuers, mining companies and policymakers' awareness of this research will impact farm compensation valuation practices in the future.

The adequacy of compensation for mining-impacted farmers remains a topical issue, especially in African countries. This research contributes to the literature and reveals the socio-economic impacts of the current compensation regime on the livelihoods of expropriated farmers.

This paper is the first to analyse the valuation methods, the compensation values and the key parameters valuers apply in assessing compensation for mining-impacted crops in Ghana.

Considering the changing dimensions of client influence in the emerging sub-market in Nigeria, different from previous general insinuations, this article examines the new strategies adopted by clients to influence estate surveyors and valuers (ESVs), factors that predispose ESVs to client influence and the effects of clients' influence on valuation outcomes and real estate markets in emerging sub-market, using Ibadan market as the study area.

The paper is situated within a client influence assessment framework, modified to reflect contextual incidents. Contextualization was made possible with the involvement of both practitioners and academic researchers. Validated copies of the questionnaire were administered to the registered practicing ESVs in an intact group during their monthly state (provincial) meeting and through direct delivery at their firms. Data collected were analyzed using descriptive and inferential statistics.

Contrary to the previous studies, the authors found no significant relationship between ESV professional qualifications, the firm's staff strength and the frequency of clients' influence in valuation assignments. Hiding important information and clauses, begging, lobbying, and seeking undue favor and promises for future jobs or appointments are the influencing strategies clients employ to pressure valuer. The topmost factors are emerging sub-market and economic-induced factors, lack of due process, and adequate transparency on the parts of firms and Valuers. It was established that the new dimension of client influence leads to the mortgage valuation accuracy dilemma, discredit of professional confidence, default and financial distress, and generating mistrust in the property market.

The implication is the new dimension of client influence, different from the previous studies, thus calling for professional and policy attention. As real estate investment and transactions transcend globally, understanding the local sub-market condition is imperative.

The novelty of the paper is the exposition on the dimensions of client influence within the economy and the implication for the professional body regulatory policy.