... return. One such measure of downside risk is semi‐variance, defined as: (1) © MCB UP Limited 1997 Assets management Forecasting Investment Valuation In a number of forums, it has been suggested that actuaries and property investment professionals and academics do...

... ways. One substantial difference, addressed in this paper, is in the rents and valuations for residential real estate. This paper compares the real estate market in two cities of roughly equal size ‐ Kiev, Ukraine, population 2.8 million (Academy of Sciences, 1991) and Philadelphia, USA, city...

..., in September 1995, of new valuation guidance notes and highlights the importance of the new requirements placed on the valuer. An opinion as to the amount of cash consideration before deduction of costs of sale which the valuer considers on the date of valuation can reasonably be expected to be obtained...

... values. If ad hoc methods of valuation are used in practice then there may be opportunities to identify mispriced properties. Presents a model which recognizes that different aspects of the cashflows can carry different risk and should be valued accordingly. Suggests that although the resulting...

... will assist the property sector. Cautions that lessons from the recession are still fresh in lenders′ minds. Following last year′s question on the quality of property valuations,institutions were quizzed on the property appraisals they used. The majority of lenders, when instructing property valuers...

...Sarah L. Sayce Outlines the context within which the need for valuations of leisure property is developing. Arguing that the profits method, usually adopted for the valuation of leisure assets, is little understood on a research‐based theoretical level, introduces the initial findings of research...

... to complete a property sale will mean that the value of the underlying assets may have changed considerably. In a falling market the redeeming unit holder benefits because he was paid on the basis of a valuation which suggested the property was worth more than was ultimately realized, while those remaining...

... satisfy the Exchange that it is competent to discharge the responsibilities of a sponsor. © MCB UP Limited 1995 Going public Investment property portfolio Share prices Share issues Sponsorship Stock markets Stock ownership Underwriting Valuation In recent years there have been...

... true for the period of this study 1984 to 1994. Banks Loans Property Questionnaires Rent Risk Security United Kingdom Valuation The scale of this involvement can be demonstrated by Figure 1 . This Figure gives the cumulative bank debt outstanding to property companies 1970 to 1993...

... as investments and not as owner occupied. Under current RICS regulations this is not allowed and any property subject to an inter‐company let must be valued as if the lease agreement did not exist. Investigates the effect of the RICS guidelines on the valuation of properties let to related companies...

...Wendy Thomas Notes that long‐term financing of property in West Germany has traditionally been undertaken by the Hypothekenbanken (mortgage banks),the Landesbanken (state banks) and the Sparkassen (savings banks). Discusses German mortgages, mortgage bonds, valuations and the cost of finance...

...Francis Eubanks Introduces financial modelling for value by income approach analysis and income feasibility (rate of return) analysis techniques. Discusses real estate valuation based upon a reasonable projection of the income stream for income producing properties in the built environment...

... their collective attitudes and policies. Considers the valuation process and the implications for property values. © MCB UP Limited 1990 Mortgages Housing Valuation Building materials ...

...John Robinson Discusses factors affecting mortgage evaluations: first, debt and equity; second, development and investment finance; third, valuation and investment analysis; fourth, capitalization and cash flow analysis; and fifth, lenders security. Explains the use of various approaches by means...