2005
DOI: 10.1108/14635780510584355
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Valuation model uniformity and consistency in real estate indices

Abstract: Purpose of the paperThis research paper has two objectives. The first is to shed light on the consistency in and quality of the applied valuation models. The second objective is to analyse uniformity on important valuation input variables throughout 1994‐2002.Design/methodology/approachMore than 150 original valuation reports are retrieved and qualitatively checked on model consistency, for example on discounting methods. The impact of the inconsistencies on the end value were calculated by using a dummy disco… Show more

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Cited by 15 publications
(11 citation statements)
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“…Although structurally vacant office buildings generate no income and have no perspective of future tenancy, appraisal of structurally vacant office buildings is in most literature based on potential tenancy of the property using either the cap rate or discounted cash flow methods (Ten Have 1992, 2002Hendershott 1996;Hordijk and van de Ridder 2005). The accounted value is too high for re-developers, who calculate land and existing building value residually.…”
Section: Building Characteristics: Opportunities and Risksmentioning
confidence: 99%
“…Although structurally vacant office buildings generate no income and have no perspective of future tenancy, appraisal of structurally vacant office buildings is in most literature based on potential tenancy of the property using either the cap rate or discounted cash flow methods (Ten Have 1992, 2002Hendershott 1996;Hordijk and van de Ridder 2005). The accounted value is too high for re-developers, who calculate land and existing building value residually.…”
Section: Building Characteristics: Opportunities and Risksmentioning
confidence: 99%
“…Assim o mérito dos grupos é alimentarem a coesão social, independentemente da sua dimensão e da sua finalidade (excluindo-se naturalmente grupos com acções anti-sociais). feito através da perpetuidade correspondente ao décimo primeiro ano e atualizada para o momento atual (Pagliari, 1991;Lusht, 2001;Hordijk, Ridder, 2005…”
Section: O Poderunclassified
“…The first step in a transparent business is to work with controllable and accessible data. In this line of thinking it is logical the expert witness in the previous example is a professor in taxation and valuation, working uniformity and consistency for a long time (Hordijk, 2005). The recent British Bribery Act 2010 requires sufficient measurements for prevention, probably including a similar setting -the first jurisprudence will appear soon enough.…”
Section: Transparencymentioning
confidence: 99%