Property Valuation Techniques, 2nd Edition

By David Isaac & Terry Steley
November 1999
Macmillan UK
ISBN: 0333792203
240 pages
$67.50 paper original

Property Valuation Techniques, which has been thoroughly revised to take into account developments in theory and practice, is concerned with the application of alternative techniques for property valuation and appraisal.

After an initial discussion of new approaches to valuation methods, the authors describe traditional approaches and provide a critique of them.

Subsequent chapters are then devoted to developing models based on cash flow approaches which can aid the appraisal of property investments. Finance theory and computer technology are then applied to the analysis. A chapter dealing with contemporary methods of valuation has been added and those on risk, computer models and the use of spreadsheets have been radically extended.

Throughout, the authors attempt to simplify complex theory in order to make the text as accessible as possible, both for the student and for the practitioner. An introduction, explaining the aims and purpose, has been added to each chapter, with a summary of key words where appropriate.

The book is intended for second or third year undergraduate students taking courses in estate management, land economics, urban land management and building surveying. It will also appeal to property specialists in surveying practices, property companies, local authority property departments and government valuation offices.

Traditional Method of Investment Valuation
Discounted Cash Flow
Interest Rates and Yields
Equated Yields
Hardcore Method
Equivalent Yields
Equated Rents
Rent Payments
Problems of the Leasehold Valuations
Development Valuations and the Cash Flow Approach
Computer Models and the Use of Spreadsheets
Financial Appraisal Techniques
New Directions

Author Biographies:
DAVID ISAAC is Professor of Real Estate Management and Head of Property and Land Management at the University of Greenwich. He has written a number of books and articles on property matters and has an international role in research and consultancy.

TERRY STELEY has now retired from the post of Senior Lecturer in the School of Land Management at the University of Greenwich. He continues his interests in research and education.

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