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A preceding paper by Baum examined the valuation of reversionary freehold interests, distinguishing between conventional and modern approaches. This paper applies the same approach to the valuation of leaseholds, and falls into two parts. Part 1 examined conventional leasehold valuations and the criticisms that may be made, concluding that both dual rate and single rate conventional valuations should be abandoned except in limited circumstances. Part 2 identifies three alternative modern approaches — real value, rational model and DCF — and compares their use in three general variations of leasehold valuation. The results are compared, and recommendations for their use are made. Finally an overview of the application of modern approaches to investment property valuation is presented.

Rapid development of information technology (IT) has posed constant challenges to business information management. By using a case study, this paper discusses the main components and development of an information system (IS) for public housing management in Singapore. It was found that the IS has evolved around a core of transaction processing system, with value‐adding sub‐systems which reflect the use of the latest IT. The paper not only contributes to the understanding of IS for public housing management, but also to the planning of IS for business management.

A preceding paper by Baum examined the valuation of reversionary freehold interests, distinguishing between conventional and modern approaches. This paper applies the same approach to the valuation of leaseholds, and falls into two parts. Part 1 examines conventional leasehold valuations and the criticisms that may be made, concluding that both dual rate and single rate conventional valuations should be abandoned except in limited circumstances. Part 2 identifies three alternative modern approaches — real value, rational model and DCF — and compares their use in three general variations of leasehold valuation. The results are compared, and recommendations for their use are made. Finally an overview of the application of modern approaches to investment property valuation is presented.

Discusses a geographic information system (GIS) application, known as EMAPS, in public housing management in Singapore’s town councils. EMAPS is a recent addition to town council information systems, contributing to the management and analysis of spatial information. The development and implementation of EMAPS highlight a number of challenges that are faced by facility management professionals in their efforts to build up a competitive edge for their businesses in this dynamic high‐tech age.

The purpose of this paper is to attempt to analyze client influence on valuation in both Taiwan and Singapore. Both countries are chosen because of the similar level of economic development as well as professionalism amongst valuers. However, although both are Chinese‐dominated by population, the culture and language used are substantially different.

The study uses a survey questionnaire to sample valuers' response to client influence in both Taiwan and Singapore. The questionnaire is organized into five parts: social economic data, client influence situation, potential factors, influence method, and influence abilities. The survey findings were analyzed using SPSS and subjected to a number of standard procedures to check for missing values and multivariate normality. Mean difference and F‐test were used to judge whether the valuers in the two countries have significantly different views on client influence.

The results show that client influence on valuation practices does exist in both Taiwan and Singapore. This is despite the differences in the market structures, development background and modes of doing business. Furthermore, the study finds that the degree and extent of the problem are different. These differences, as reflected in the differing views and opinions on the causes and factors leading to client pressure, are largely due to the systemic differences in the two countries, particularly, in the way businesses are conducted as well as the medium of communication being used.

The paper contributes to the research on client influence on valuation through a comparative study of two countries with substantially different business environments and language of communication. These differences seem to have an impact on how valuers view client influence despite their similar economic, educational and professional backgrounds.

This paper seeks to explore the dynamics of the spatial distribution of landed residential property values in Singapore in the 1990s. Topics covered include: spatial patterns that can be discerned in the distribution of landed property values; how property values change over time; and how government intervention influenced this dynamic property value surface. Data are collected from the Singapore Institute of Surveyors and Valuers property transaction database, and are analysed by using the geographic information system, parametric and non‐parametric statistics. Findings of this paper contribute to the understanding of the urban dynamics of an Asian metropolis, especially in terms of its residential property market and internal spatial structure.

Recent articles regarding investment valuation and appraisal published in Journal of Valuation have included a number of commentaries which either review or analyse previous contributions. The recent reviews of Baum and Yu, and the comments of Fraser and Greaves, warrant a reply from one of the instigators of these models which have been reviewed or examined. In this reply, a few minor points are answered. The major thrust of Baum's analysis, that a place exists for both DCF and Real Value techniques, is confirmed on the grounds that both models are reconcilable and the existence of both will help towards a general understanding of contemporary techniques. This paper argues for a change in direction in the debate, from construction to use of models, and for this reason the contributions of Fraser are seen as significant. Fraser's views on the use of models are concluded to be conflicting and it is suggested that the debate should be directed to what ought to be, with less importance being placed on what is actually, happening. Only in this way can change, if thought to be desirable, take place.