The volume of money invested in the UK has increased dramatically
in the last ten years; over the same period the property market has
seen equally radical changes. Increasing concern has been expressed
at the inadequacy of existing techniques for the valuation and
appraisal of property investment. There is little doubt that new
methods are needed. This text examines the theoretical basis and
underlying assumptions of the various property models currently in
use. They highlight some of the problems inherent in the current
methodology, and identify possible ways forward for both research
and practice.
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