000			10410cam a2200805 i 4500
001			on1004576169
003			OCoLC
005			20240523125540.0
006			m o d
007			cr |||||||||||
008			170921t20182018njua ob 001 0 eng
010			_a 2017045467
040			_aDLC _beng _erda _epn _cDLC _dOCLCF _dN$T _dDG1 _dYDX _dIDEBK _dEBLCP _dYDX _dOCLCO _dMERER _dUAB _dOCLCQ _dUPM _dDG1 _dOCLCQ _dKSU _dINT _dAU@ _dOCLCQ _dMERUC _dU3W _dOCLCQ _dUKAHL _dERF _dOCLCQ _dK6U _dOCLCQ _dN9V _dSDF _dOCLCQ _dOCLCO _dOCLCQ _dOCLCO _dOCLCL
019			_a1097146206 _a1100464611 _a1124489492
020			_a9781119073659 _q(electronic bk.)
020			_a1119073650 _q(electronic bk.)
020			_a9781119073666 _q(electronic bk.)
020			_a1119073669 _q(electronic bk.)
020			_z9781119332596
020			_z1119332591
020			_z9781444334760 _q(paperback)
029	1		_aAU@ _b000060834304
029	1		_aCHBIS _b011150891
029	1		_aCHNEW _b000977950
029	1		_aCHVBK _b504541447
029	1		_aGBVCP _b1014967600
035			_a(OCoLC)1004576169 _z(OCoLC)1097146206 _z(OCoLC)1100464611 _z(OCoLC)1124489492
042			_apcc
050	1	4	_aHC433 _b.V35 2018
072		7	_aBUS _x054000 _2bisacsh
082	0	0	_a333.33/2 _223
084			_aBUS054000 _2bisacsh
049			_aMAIN
245	0	0	_aValue in a changing built environment / _cedited by David Lorenz, Karlsruhe Institute of Technology, Karlsruhe, Germany ; Peter Dent, Oxford Brookes University, United Kingdom ; Tom Kauko, University of Portsmouth, United Kingdom.
264		1	_aHoboken, NJ : _bWiley Blackwell, _c2018.
264		4	_c�2018
300			_a1 online resource (xiv, 234 pages)
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
504			_aIncludes bibliographical references and index.
520			_a"A new framework for understanding the underpinnings of real estate property value and the role it plays in the larger economy Value in a Changing Built Environment examines the professional foundations on which the valuation exercise and the valuation profession rest. Written by noted experts in the field, the book addresses the often limited understanding of the concept of property value by explaining the intrinsic linkages between economic, environmental, social, and cultural measures and components of property value. The book offers a framework that paves the way towards a more holistic approach to property value. Value in a Changing Built Environment unwraps many of the traditional assumptions that have underpinned market participants decision making over the last few decades. The authors explore the concept that a blindfold application of valuation theories and approaches adopted from finance is unlikely to be able to cope with the nature of property as an economic and public good. This vital resource: Explains the criteria for making estimates of value that can be applied worldwide Offers an integrated approach to property value and the valuation processes Captures the often illusive intangibles such as environmental performance into valuation Addresses a market failure to account for wider criteria on building performance Value in a Changing Built Environment examines how real estate valuation plays a pivotal role in decision making and how can a new body of knowledge improve the practice in both business and social domains"-- _cProvided by publisher
520			_a"A new framework for understanding the underpinnings of real estate property value and the role it plays in the larger economy"-- _cProvided by publisher
588	0		_aOnline resource; title from digital title page (viewed on December 01, 2017).
505	8		_aAbout the Editors xi Note on Contributors xiii Introduction 1 The Book's Main Theme 2 The Book's Key Messages 3 The Book's Methodology and Starting Points 5 Brief Description of the Current State of Affairs, Developments and Changes 5 Analysis of Likely Consequences for Valuers, Valuation Theory and Practice 7 Explanation for Proposing Alternative Protocol to Valuation and Decision-Making Processes in the Property Industry 9 Part 1 Gap Analysis: Anomalies and Paradoxes, Questions, Dilemmas and Motivations 13 Tom Kauko, Peter Dent, Stephen Hill, Maurizio d'Amato and David Lorenz Background 13 Property Market Impacts 15 Out of the Comfort Zone 15 The Social Mind 19 Lack of Political Awareness in the Profession about Changes in Value Systems 20 Professional Values 21 'Wrong Coding' of the Market System 22 Lack of Linkages to Any Belief System 24 Concluding Remarks 26 Part 2 A Theory of Value in the Built Environment 29 2.0 Introduction 29 Peter Dent Property Ownership 30 Cognitive Economy 30 Behavioural Characteristics 31 Moral Values 31 Sustainable Decision-Making 33 2.1 Economic Value: Value, Price and Worth 34 Peter Dent and David Lorenz The Dominant Economic System 34 Rational Knowledge 35 Value 36 Price 39 Worth 40 Concluding Remarks 42 2.2 Sense and Categories of Value 43 David Lorenz, Peter Dent, Tom Kauko, Thomas Lutzkendorf and Stephen Hill Sense of Value 44 Categories of Value 45 Part 3 Valuation Methodology 51 3.0 Introduction 51 David Lorenz and Tom Kauko 3.1 Aspects of Residential Value AnalysisMethodology 53 Tom Kauko Introduction 53 Conceptualisation 55 Methodology 58 Practical Applications 61 Summary and Concluding Discussion 62 3.2 Aspects of Commercial Property Valuation and Regressed DCF 63 Maurizio d'Amato Regressed DCF 64 Discount Rate, Risk Premium Determination, and Regressed DCF 65 An Application of Regressed Models A, B, and C to Bucharest Commercial Real-Estate Market 66 Model A 68 Model B 73 Model C 77 A Real-Estate Market Risk Premium Map 81 Conclusions and Further Directions of Research 83 3.3 The Significance of Land Attributes in Determining the Types of Land Use 84 Malgorzata Reniger-Bilozor and Andrzej Bilozor Introduction 84 Method for Determining the Effect of Real-Estate Attributes on Land-Use Function with the Use of the Rough Set Theory 85 Concluding Remarks 95 Part 4 Empirical Applications of Market Analysis 97 4.0 Introduction 97 Tom Kauko Shift in Focus 97 Presentation of Individual Chapter Summaries 99 4.1 Directions for Exploration of NewMethods of Identifying and Determining Relationships and Dependencies on the Real-Estate Market 102 Malgorzata Renigier-Bilozor and RadoslawWisniewski Introduction 102 The Real-Estate Sector -- Analysis and Challenges 104 The Real-Estate Market System 105 The Participants (Entities) of the Real-Estate Market 107 Real Estate and Its Characteristics 109 Research and AnalyticalMethods 111 4.2 Economic Sustainability, Valuation Automata and Local Price Development 119 Tom Kauko Introduction 119 The Need for a Sustainable Housing Market 121 The New Paradigm of Modelling Value -- Is AVM the Solution? 124 Designing an Empirical Modelling Method 126 Data Preparation 129 The Results of the Analysis 130 The Principle of Smoothing the Value Using a SOM Approach 132 Conclusions and Discussion 134 4.3 Evaluation of Selected Real-EstateMarkets -- A Case Study from Poland 137 Malgorzata Renigier-Bilozor and RadoslawWisniewski Introduction 137 Perfect versus Imperfect Real-Estate Markets 138 Analysis of Selected Real-Estate Markets in Poland -- Case Study 139 The Use of the Rough Set Theory in Real-Estate Market Analysis 148 Conclusions 150 4.4 Cyclical Capitalization 151 Maurizio d'Amato Introduction 151 Real-Estate Market Cycle 152 Income Approach and International Valuation Standards 153 Cyclical Capitalization 155 The Primum Group of Cyclical Capitalization 157 The Meaning of g Factor or a 157 The Primum Group 157 The Secundum Group of Cyclical CapitalizationMethods 162 The Tertium Group of Cyclical CapitalizationMethods 164 The Quartum Group of Cyclical CapitalizationMethods 166 Application of Cyclical CapitalizationModels to London Office Market 167 Time-Series Analysis for Cyclical Capitalization Application 167 Conclusions 171 Part 5 Towards a More Sustainable Real-EstateMarket 173 5.0 Introduction 173 Peter Dent 5.1 Professional Responsibility 175 Stephen Hill, David Lorenz, Peter Dent and Thomas Lutzkendorf Introduction 175 Built-Environment Professionalism and Professional Bodies 176 General Guiding Principles and Role within the Institutional Framework 176 Professional Bodies at Risk 177 Sustainability Literacy in Built-Environment Professionalism 178 The Ethics of Built-Environment Professionalism 179 Professional Disciplines in a Social, Environmental and Economic Context 179 How Ethical Are Professional Codes of Conduct? 181 European Institutions 183 Responsibility and Accountability for Outcomes: Future Professionals 186 Taking Personal Responsibility for the Other 189 Professional Sustainable Practices 191 5.2 Professional Approach 194 Peter Dent and David Lorenz Introduction 194 Bottom-Line Approaches 195 AWay Forward 196 Proposed Changes Regarding Current Valuation Practice and Standards 198 Conclusion 198 Appendices 201 References 213 Index 231.
590			_aJohn Wiley and Sons _bWiley Online Library: Complete oBooks
650		0	_aValue.
650		0	_aReal property.
650		6	_aValeur.
650		6	_aBiens r�eels.
650		7	_avalue (economic concept) _2aat
650		7	_areal estate. _2aat
650		7	_aBUSINESS & ECONOMICS _xReal Estate. _2bisacsh
650		7	_aBUSINESS & ECONOMICS _xReal Estate _xGeneral. _2bisacsh
650		7	_aReal property _2fast
650		7	_aValue _2fast
700	1		_aLorenz, David, _d1977- _eeditor.
700	1		_aDent, Peter, _d1951- _eeditor.
700	1		_aKauko, Tom, _eeditor.
758			_ihas work: _aValue in a changing built environment (Text) _1https://id.oclc.org/worldcat/entity/E39PCG7KmGcX984vbgBJfJqDWP _4https://id.oclc.org/worldcat/ontology/hasWork
776	0	8	_iPrint version: _tValue in a changing built environment. _dHoboken, NJ : Wiley Blackwell, 2018 _z9781444334760 _w(DLC) 2017042801
856	4	0	_uhttps://onlinelibrary.wiley.com/doi/book/10.1002/9781119073666
938			_aAskews and Holts Library Services _bASKH _nAH33357592
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938			_aProQuest MyiLibrary Digital eBook Collection _bIDEB _ncis39019467
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