Real Estate Management and Valuation · 2013 · 38 citations · 8 references
BusinessEconomicsReal Estate EconomicsReal Estate ValuationUncertainty QuantificationAsset ValuationProperty ValuationValuation AnalysisAssumptions SpecificationMarket EnvironmentProperty Market ValuationValuation Under Uncertainty
Abstract Property valuation is characterized by uncertainty, understood not only as uncertainty of a single valuation, but also as a discrepancy between multiple valuations of the same property carried out at the same time and for the same purpose. A valuation is only an estimate, the outcome of which depends on the assumptions adopted by the valuer. Such assumptions may account for the potential of a property in a complex market environment in different ways. The objective of the paper is to present the methodology of research devoted to valuation uncertainty in highly developed markets to emphasize the need to conduct such research in Poland, and to indicate the areas in which professional organizations should undertake actions.
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Nick French, Laura Gabrielli · Journal of Property Investment and Finance · 2004 · 149 citations
Royal Institution of Chartered Surveyors
Kaye Herald · 2008 · 139 citations
Paul Boschan, Irving Pfeffer · Econometrica · 1958 · 64 citations