Abstracts – Browse Results

Search or browse again.

Click on the titles below to expand the information about each abstract.
Viewing 11 results ...

d'Amato, M and Kauko, T (2012) Sustainability and risk premium estimation in property valuation and assessment of worth. Building Research & Information, 40(02), 174-85.

  • Type: Journal Article
  • Keywords: buildings; discount cash flow; property valuation; risk premium; sustainability; value
  • ISBN/ISSN: 0961-3218
  • URL: https://doi.org/10.1080/09613218.2012.655069
  • Abstract:
    From a risk analysis perspective, property is typically treated as just another asset class. Some academics propose only a financial - not a physical or a functional - definition of valuation modelling. An alternative method is proposed here to assess the risk premium for both property valuation and assessment of worth which is directly based on the property market, rather than the traditional financial model of risk premium determination or reliance on the individual expertise of a property valuer. The proposed method is based on the empirical relationship between discount cash flow (DCF) inputs and output, and can be based on the prices of comparable properties. In the traditional approach, the fact that financial modelling approximates real property to a financial asset class arguably emphasizes the illiquid nature of real property. As a consequence, all the attributes including sustainability indicators are normally not taken into account by property valuers and consultants. The market increasingly requires green buildings and development; through the use of the proposed model this need can be included in the data for risk premium estimation, in the valuation process, and, generally speaking, in the body of knowledge informing the property market.

Donn, M, Selkowitz, S and Bordass, B (2012) The building performance sketch. Building Research & Information, 40(02), 186-208.

Kleindienst, S and Andersen, M (2012) Comprehensive annual daylight design through a goal-based approach. Building Research & Information, 40(02), 154-73.

Larsson, J, Eriksson, P E, Lingegård, S and Järvenpää, A (2022) Innovation outcomes and processes in infrastructure projects – a comparative study of Design-Build and Design-Build-Maintenance contracts. Construction Management and Economics, 40(02), 142–56.

Leiringer, R, Gottlieb, S C, Fang, Y and Mo, X (2022) In search of sustainable construction: the role of building environmental assessment methods as policies enforcing green building. Construction Management and Economics, 40(02), 104–22.

Sage, D, Dainty, A and Brookes, N (2012) A 'Strategy-as-Practice' exploration of lean construction strategizing. Building Research & Information, 40(02), 221-30.

Sandberg, N H and Brattebø, H (2012) Analysis of energy and carbon flows in the future Norwegian dwelling stock. Building Research & Information, 40(02), 123-39.

Schlegel, M, Trutnevyte, E and Scholz, R W (2012) Patterns of residential heat demand in rural Switzerland. Building Research & Information, 40(02), 140-53.

Sharafi, A, Amalnick, M S and Taleizadeh, A A (2022) Optimal readjustment of contract variables and the financial outcome of PPP projects in the operation period. Construction Management and Economics, 40(02), 87–103.

Soliman-Junior, J, Tzortzopoulos, P and Kagioglou, M (2022) Designers’ perspective on the use of automation to support regulatory compliance in healthcare building projects. Construction Management and Economics, 40(02), 123–41.

Tennant, S and Fernie, S (2012) The commercial currency of construction framework agreements. Building Research & Information, 40(02), 209-20.