Starts from the basic principles of property investment and showsthat the initial yield conceals estimates of a risk premium, expectedincome growth and expected depreciation. Suggests that an explicitvaluation procedure which can be used at any level ranging from a singleproperty to the aggregate market may be constructed. Concludes that thesurveying profession is under threat from those able to meet the growingdemand for such explicit analyses.
Journal of Property Valuation and Investment – Emerald Publishing
Published: Apr 1, 1992