... of the subject property market. For this reason, property valuation is generally regarded as an “art” and “science” of estimating the value of an interest in a real estate property (Kummerow, 2003 ; Aluko, 2007 ; Azmi et al., 2013). The type of property to be appraised determines the valuation method...

..., the results suggest that there are grounds for concern regarding proficiency in at least some of the valuation methods across the board. Further, the study revealed significant levels of dissatisfaction amongst employers with the general competence of valuers under their supervision. On the second question...

... by some kind of cost‐based valuation method that are usually recommended for valuation of public sector buildings. Bond and Dent, building on earlier work by Kerr (1986), identify the potential of contingent valuation, hedonic pricing, travel‐cost analysis and indifference curve mapping as possible...

... highlighted. Most valuation methods are based on the assumption that property is held for financial gain (either direct in the case of investment property or indirect in the case of owner occupied holdings). This may not be the case with local authorities who have a role of providing services to the local...