Property appraisal is a fairly complex phenomenon and involves numerous methodologies to ascertain the precise or adjacently close price of any particular property. Nevertheless, the chief principle of property valuation lies in three basic principles; the first being the…
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ers & constructers as these contemporary methodologies are much more accurate and reliable as and when contrasted against traditional approaches of property valuation and management.
Modern approaches of property valuation ensure that operators and other massive investors do not use the traditional approaches to their own personal advantage. Some analysts believe that the property bubble could have been avoided if the property prices had stayed on track. A diminutive part of the bubble-burst is also blamed on brokers, as even today most of the populace do not use a certified property valuator and just get their estate agents to estimate a value for them.
Although, contemporary methods are much more complex and time consuming as compared to traditional methodologies that are less effective and easily manipulated, but the old methods do provide results within an extremely shorter time frame. As a matter of fact, with the increasing popularity of the Web 2.0, one may easily search for the property prices using old methodologies such as “Comparable sales” online through various WWW region specific services, such as a decent website for such an analysis in the UK is www.mouseprice.com. (Calnea Analytics Limited, N.D)
At the outset, no two properties can ever be valued at an analogous value as no two properties are the same. A property might be worth much more for a particular occupier, whereas that same property could be worth nil to another. (Kilpatrick, 2004)
The traditional property valuation methodologies used to focus much more on the property’s location and rates of surrounding property; but the new methodologies focus more on the use of a particular property. Nevertheless, even according to the modern approaches, a property may be of a significantly distinctive value for two different buyers. For example, a wheat farmland might be worth more to a wheat farmer than to an occupier who wants to set up a ranch. Therefore, a wheat farmer will consider
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Real estate and property management companies are concerned with construction and management of buildings for both government, rental and business purposes. The name of the property development company that I work for is referred to as Maxima Real Estate Development Company.
Salisbury (2010) reports, “Qatari Diar started work with one billion dollars in the development of the Chelsea Barracks and the former US embassy at Grosvenor Square in London which means it was powerful in luxury real estate region.”
First & the foremost, the resent boom in real estate investment is due to the fact that there euro has been trading strongly in comparison to the dollar. This has also been attributed as one of the prime advantages for getting a mortgage loan. But, the real danger lies in the fact that this situation will seem favourable only until the euro is able to sustain its lead.
Since there are many factors influencing the commercial real estate, due to diverse range of uses and complicated location, thus, there is huge intricacy involved in valuing various commercial estates. When we talk about commercial real estate, it is referred to commercial retail including department stores, super markets, shopping malls, and hotels, offices, buildings, restaurants, etc.
Basic facilities like water, electricity, food and shelter should be sufficient. Real estates prices will increase when the land is in the center of the city, or in industrial areas, or in residential areas. Infrastructure of the city or town plays an important role because those are the basic amenities that an investor would look into, before buying the land.
He has held several responsible positions including chairman of the board of real estate developers association of the United States of America, as CEO of RealCityCorp, director of business ethics research group, to mention a few. Mr. Jacob Smithson started the Institute for infrastructure and property development in the year 1970.
Graaskamp places his arguments on the basis of ‘that which might be’ rather than on ‘that which is’ (Graaskamp 499). He holds that the context of a real estate solution lies with or is represented by man and nature. He goes ahead to identify the elements of form
The client is keen on identifying an investment opportunity that would maximize its profits in view of current market prices. The client has particular interest in brown field investment opportunities and regeneration areas with a special
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