Valuing properties when comparable sales do not exist and the market is in disequilibrium
Language: English Series: Journal of Property Research ; 13(1) March 1996, 57-66(10)Publication details: 1996Subject(s): Summary: Using the value/replacement cost ratio for the 1992 Sydney office market as an example, the author argues that when carrying out property market valuations when the market is in a state of disequilibrium, cash flows need to be forecast only until equilibrium is reached at which point value equals depreciated replacement cost.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS54825 (Browse shelf(Opens below)) | 1 | Available | 12409-1001 |
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Using the value/replacement cost ratio for the 1992 Sydney office market as an example, the author argues that when carrying out property market valuations when the market is in a state of disequilibrium, cash flows need to be forecast only until equilibrium is reached at which point value equals depreciated replacement cost.