Value in a Changing Built Environment

David Lorenz , Peter Dent , Tom Kauko 지음

Wiley-Blackwell 2017년 11월 08일 출간

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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.

목차

About 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 13Tom 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 29Peter Dent Property Ownership 30 Cognitive Economy 30 Behavioural Characteristics 31 Moral Values 31 Sustainable Decision-Making 33 2.1 Economic Value: Value, Price andWorth 34Peter 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 43David Lorenz, Peter Dent, Tom Kauko, Thomas L tzkendorf and Stephen Hill Sense of Value 44 Categories of Value 45 Part 3 Valuation Methodology 51 3.0 Introduction 51David Lorenz and Tom Kauko 3.1 Aspects of Residential Value AnalysisMethodology 53Tom Kauko Introduction 53 Conceptualisation 55 Methodology 58

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저자(글) David Lorenz

DAVID LORENZ is co-chair of the Centre for Real Estate at the Karlsruhe Institute of Technology (KIT) where he is Professor for Property Valuation and Sustainability. David is also the director and founder of a real estate management, valuation and consulting firm located in the southern part of Germany. He has more than 15 years of experience in valuation, asset management and property development, has published extensively on the role of sustainability in real estate management and valuation, and is a Fellow and Spokesperson of the Royal Institution of Chartered Surveyors (RICS). In the past he was actively engaged with several research projects administered by RICS and the UN. PETER DENT is affiliated to Oxford Brookes University where he currently participates in International programmes in real estate valuation and finance. For eight years he was the Head of the Department of Real Estate and Construction before taking up the post of Comerford Climate Change Fellow in 2008. Latterly he was Director of International Programmes helping to develop and manage professional and academic programmes. During his career he has published widely including two books: Property Markets and Sustainable Behaviour (2012) and Towers, Turbines and Transmission Lines: Impacts on Property Value (2013). TOM KAUKO is an academic labourer with wide remit within real estate economy and urban affairs. He received a M.Sc. degree in Real Estate in 1994 (Helsinki University of Tech, Finland), and a Ph.D. in Geography in 2002 (Utrecht University, The Netherlands). He has worked for Oxford Brookes University, UK, the Norwegian University of Science and Technology and OTB Research Institute, Delft University of Technology, The Netherlands. He has carried out research on urban real estate, housing and land-use studies. He is currently based in the historic seaside town of Portsmouth (UK), where he works with lecturing and research for the School of Civ

저자(글) Peter Dent

저자(글) Tom Kauko