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The assessment of worth: the need for standards

The assessment of worth: the need for standards Buy/sell decisions in the property market, as in most markets, are based on individual or professional opinions that the exchange price is below or above the individual's opinion of worth. This article considers the RICS definition of worth and explores other definitions and meanings in the property investment market. It reviews the current provision for DCF in standards or information papers and concludes that, while the International Valuation Standard Committee's definition of market value is now recognised on a world basis, confusion over the meaning of "worth" and the use of DCF will continue if similar international standards are not agreed. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Property Investment & Finance Emerald Publishing

The assessment of worth: the need for standards

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Publisher
Emerald Publishing
Copyright
Copyright © 2000 MCB UP Ltd. All rights reserved.
ISSN
1463-578X
DOI
10.1108/14635780010316654
Publisher site
See Article on Publisher Site

Abstract

Buy/sell decisions in the property market, as in most markets, are based on individual or professional opinions that the exchange price is below or above the individual's opinion of worth. This article considers the RICS definition of worth and explores other definitions and meanings in the property investment market. It reviews the current provision for DCF in standards or information papers and concludes that, while the International Valuation Standard Committee's definition of market value is now recognised on a world basis, confusion over the meaning of "worth" and the use of DCF will continue if similar international standards are not agreed.

Journal

Journal of Property Investment & Finance – Emerald Publishing

Published: Feb 1, 2000

Keywords: DCF; Standards; Investment; Property

References

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