Real Estate Valuation Theory

A Critical Appraisal
1. Auflage 2016
ISBN: 978-3-662-49163-8
Verlag: Springer

Buch, Englisch, 185 Seiten, HC runder Rücken kaschiert, Format (B × H): 160 mm x 241 mm, Gewicht: 4262 g

This

monograph critically reviews and updates real estate valuation theory, which is

based on neoclassical economics, in light of developments in heterodox economic

theory. Building on a comprehensive historical account of the evolution of

value theory, the book uses new institutional economics theory and critical

realism as lenses through which problems in standard valuation theory and

practice are expatiated, and as the foundation for an alternative theory. The

new theory is employed to explain major problems in real estate valuation that

are beyond the capability of the standard theory, such as price bubbles in real

estate markets, anchoring bias, client influence and

valuation under uncertain market conditions.

Zielgruppe

Research

Autoren/Hrsg.

Mooya, Manya M.

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Makroökonomie
• Wirtschaftswissenschaften Wirtschaftssektoren & Branchen Immobilienwirtschaft

Inhaltsverzeichnis

Preface.- 1 Standard Theory of Real Estate Market Value: Concepts and Problems.- 2 Aristotle to Marshall: The Evolution of Economic Value Theory.- 3 Traditional Valuation Methods.- 4 Automated Valuation Models.- 5 Real Estate Markets and Neoclassical Economic Theory - A Heterodox Critique.- 6 An Alternative Theory of Market Value: Ontological Foundation.- 7 An Alternative Theory: Market Value as Convention and Market Value as Emergence.- 8 Applications to Problems of Theory and Practice.- Postscript.

Über Autor(innen)

Manya M. Mooya holds a PhD in Real
Estate from the University of Pretoria, an MPhil in Land Economy from the
University of Cambridge and a BSc in Land Economy from the Copperbelt
University. He is currently Senior Lecturer in Property Studies in the Department
of Construction Economics and Management at the University of Cape Town. He
teaches courses on property valuation at both the undergraduate and
postgraduate levels. His research work, both theoretical and applied, focuses
on the twin questions of how value is created in real estate markets and on the
links between these markets and capital accumulation.