The Valuation of Real Estate, Second edition, has been adapted by the Australian Property Institute to suit the Australian market.
It primarily focuses on the fundamentals of property and real estate to provide a solid foundation for building a broad and substantial understanding of property valuation.
This textbook is relevant for a broad range of stakeholders including students, property economists, market analysts, lenders, market researchers and policy makers.
There is substantial emphasis on market analysis, highest and best use analysis, the direct comparison approach, as well as a rigorous explanation of the cost approach which stresses the estimation of depreciation from market data.
- Chapter 1 Real Property and its Valuation
- Chapter 2 The Nature of Value
- Chapter 3 Foundations of Valuation
- Chapter 4 Real Estate Markets
- Chapter 5 The Money and Capital Markets
- Chapter 6 Real Property Ownership and Interests
- Chapter 7 The Valuation Process
- Chapter 8 Data Collection
- Chapter 9 Market and Marketability Analysis
- Chapter 10 Land and Site Analysis
- Chapter 11 Improvement Analysis
- Chapter 12 Highest and Best Use Analysis
- Chapter 13 The Direct Comparison Approach
- Chapter 14 Comparative Analysis
- Chapter 15 Applications of the Direct Comparison Approach
- Chapter 16 Land and Site Valuation
- Chapter 17 The Cost Approach
- Chapter 18 Building Cost Estimates
- Chapter 19 Depreciation Estimates
- Chapter 20 The Income Capitalisation Approach
- Chapter 21 Income and Expense Analysis
- Chapter 22 Direct Capitalisation
- Chapter 23 Yield Capitalisation - Theory and Basic Applications
- Chapter 24 Discounted Cash Flow Analysis and Special Applications in Income Capitalisation
- Chapter 25 Reconciling Value Indications
- Chapter 26 The Valuation Report
- Chapter 27 Valuation Review and Valuation Consulting
- Chapter 28 Statistics in Valuation
- Chapter 29 Valuation of Partial Interests
- Chapter 30 Valuation for Financial Reporting
- Appendix Financial Formulas
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