The importance of property as an investment medium continues to grow. Investors in property or those involved with the provision of expert advice to investors have had to improve the effectiveness and efficiency of their decision making. The aim of this book is to lay down the theoretical foundations of investment decision making, incorporating the techniques and procedures of modern management science, so that particular decisions regarding property investment can be made efficiently and rationally.

There is an ever-increasing need for more accurate assessment of the performance of property investments. This book covers property investment decisions from an quantitative perspective. All those involved with decision making, or with the provision of expert advice to investors in property, need to understand the theory and methodology currently used and accepted in the various alternative investment media, so that property investments decisions can be made efficiently and rationally. There are five sections in this book. Section A is devoted to the general aspects and setting of property investment decisions. Section B concentrates on various quantitative decision techniques: uncertainty and risk are, unfortunately, inescapable and an all prevailing aspect of investment. Modern statistics and decision theory provide procedures for the making of investment decisions under uncertainty. Section C concentrates on investment performance measurement: the measurement of portfolio performance and the interpretation of the results of the measurement. In Section D the information needs, information provision and management for effective decision making are examined. Section E consists of e