The Income Approach to Property Valuation

8. Auflage 2025
ISBN: 978-1-032-77868-6
Verlag: Taylor & Francis Ltd

Buch, Englisch, 292 Seiten, Format (B × H): 174 mm x 246 mm

The 8th edition of the longstanding and reputable textbook The Income Approach to Property Valuation elevates its practicality, broadens its international appeal, and cements its market leading status by incorporating the latest advancements in AI, PropTech and data analysis.

The real estate world has changed significantly since the 7th edition. Accelerated by the pandemic, the occupation of real estate, the way end users interact with property and the way in which it is funded and managed have shifted significantly. The new edition is a comprehensive guide that explores various aspects of property valuation and investment in the context of the wider, international real estate market. It still introduces the basic frameworks, financial and investment approaches, and methodologies as it has always done, but with a much more hands on, explorative approach. The latter part of the book now focuses on how to evaluate the market circumstances, global, regional, and local influences and the social, political, economic, and technological impacts that shape the numbers to be entered into a valuation.

Other key features of this groundbreaking new edition include:

· A chapter dedicated to "Automated Valuation Models" (AVMs) and Computer-Assisted Mass Appraisal (CAMA) systems, highlighting their growing significance in the valuation process

· The inclusion of practical case studies, such as hotels and business valuation, adding a real-world dimension to the book, illustrating how various valuation methods are applied in different scenarios

· Practical consideration of Environmental, Social, and Governance (ESG) factors on property valuation

No other valuation textbook provides such a challenging, refreshing, and disruptive approach to teaching students how to generate reliable and robust valuations. The new edition of The Income Approach to Property Valuation is core reading for real estate and property valuation and appraisal classes the world over.

Zielgruppe

Professional Reference, Undergraduate Advanced, and Undergraduate Core

Autoren/Hrsg.

Batista Da Silva, Fernanda Antunes

Nunnington, Nick

Dimopoulos, Thomas

Fachgebiete

• Wirtschaftswissenschaften Wirtschaftssektoren & Branchen Immobilienwirtschaft
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Finanzsektor & Finanzdienstleistungen: Allgemeines
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Anlagen & Wertpapiere
• Technische Wissenschaften Bauingenieurwesen Baukonstruktion, Baufachmaterialien
• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Versicherungswirtschaft
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen

Inhaltsverzeichnis

ACRONYMS

PREFACE

PART I:

CORE FRAMEWORKS, CONCEPTS, MATHEMATICS AND TECHNIQUES

Chapter 1: Introduction

Chapter 2: Legal and taxation frameworks

Chapter 3: Investment Property

Chapter 4: Market analysis

Chapter 5: Expectations of valuers

Chapter 6: Valuation Mathematics

PART II – VALUATION METHODS

Chapter 7: The comparison method

Chapter 8: The investment method

Chapter 9: The profits method

Chapter 10: The residual method and development appraisals

Chapter 11: The cost method

PART III – ADVANCED TOPICS AND APPLICATIONS OF VALUATION METHODS

Chapter 12: Automated valuation models

Chapter 13: Contemporary impacts on markets and values

Chapter 14: Evaluating valuers

PART IV - CASE STUDIES, ILLUSTRATIVE REPORTS AND SOLUTIONS

• Case Study 1

• Case Study 2

• Appendix A Illustrative investment property purchase report

• Appendix B Illustrative development site appraisal report

• Appendix C Solutions to Questions in Chapters

Über Autor(innen)

Nick Nunnington has over 40 years of property experience working in private practice, local authority and as an academic and consultant. He has been involved in the last four editions of the book and has had an international career running projects in China, Hong Kong and the Middle East where he was in a senior leadership role for one of the three federal universities of the UAE. More recently he has had a portfolio career working as a Visiting Professor for Nottingham Trent University, Associate Professor for Neapolis University Cyprus, course co-ordinator at the University of Adelaide and a lecturer at the Hanze University of Applied Sciences in Groningen, The Netherlands.

Thomas Dimopoulos has 20 years of experience in property valuation and 12 years as an academic. He is the Director and founder of AXIA CHARTERED SURVEYORS (a property valuations firm), and REAL GEOSOLUTIONS (a software company that provides GIS and AVM solutions). Appointed to the European Board of IVSC in 2020, his commitment to the realm of valuation is further cemented by his leadership roles both as an Assistant Professor and Director of Real Estate Programmes at Neapolis University. Educationally, he boasts a diverse academic portfolio including a PhD from Cyprus University of Technology in the field of AVMs, a M.Eng. from Aristotle University of Thessalonica in Rural & Surveying Engineering, and a MSc in Real Estate from Oxford Brookes University. His commendable tenure as the chairman of RICS Cyprus between 2017-2022 and as a board member of the Association of Property Valuers in Cyprus underlines his contributions to the industry. A published author, his work delves deep into property valuation methodologies, property taxation, and the pioneering integration of AI and Machine Learning in Mass Appraisals.

Fernanda Antunes holds the position of lecturer at Nottingham Trent University, where she serves as the course leader for MSc Property Development and Planning. Additionally, she is the module leader for the postgraduate module on Real Estate Valuation and Appraisal, as well as the undergraduate module on Valuation. Concurrently, Fernanda is pursuing her PhD at the University of Aberdeen, focusing her research on the impact of flexible workspaces in commercial real estate. Fernanda's academic journey includes a Master's degree in Real Estate from the University of Reading and a Bachelor's degree in Civil Engineering from Universidade Federal de Santa Catarina. Prior to her academic career, she gained valuable experience as a valuer, working with major banks in Brazil.