Value in a Changing Built Environment.

Cover -- Title Page -- Copyright -- Contents -- About the Editors -- Note on Contributors -- Introduction -- Part 1 Gap Analysis: Anomalies and Paradoxes, Questions, Dilemmas and Motivations -- Background -- Property Market Impacts -- Out of the Comfort Zone -- The Social Mind -- Lack of Political Awareness in the Profession about Changes in Value Systems -- Professional Values -- 'Wrong Coding' of the Market System -- Lack of Linkages to Any Belief System -- Concluding Remarks -- Part 2 A Theory of Value in the Built Environment -- 2.0 Introduction -- Property Ownership -- Cognitive Economy -- Behavioural Characteristics -- Moral Values -- Sustainable Decision‐Making -- 2.1 Economic Value: Value, Price and Worth -- The Dominant Economic System -- Rational Knowledge -- Value -- Price -- Worth -- Concluding Remarks -- 2.2 Sense and Categories of Value -- Sense of Value -- Categories of Value -- Part 3 Valuation Methodology -- 3.0 Introduction -- 3.1 Aspects of Residential Value Analysis Methodology -- Introduction -- Conceptualisation -- Methodology -- Practical Applications -- Summary and Concluding Discussion -- 3.2 Aspects of Commercial Property Valuation and Regressed DCF -- Regressed DCF -- Discount Rate, Risk Premium Determination, and Regressed DCF -- An Application of Regressed Models A, B, and C to Bucharest Commercial Real‐Estate Market -- Model A -- Model B -- Model C -- A Real‐Estate Market Risk Premium Map -- Conclusions and Further Directions of Research -- 3.3 The Significance of Land Attributes in Determining the Types of Land Use -- Introduction -- Method for Determining the Effect of Real‐Estate Attributes on Land‐Use Function with the Use of the Rough Set Theory -- Concluding Remarks -- Part 4 Empirical Applications of Market Analysis -- 4.0 Introduction -- Shift in Focus -- Presentation of Individual Chapter Summaries.

4.1 Directions for Exploration of New Methods of Identifying and Determining Relationships and Dependencies on the Real‐Estate Market -- Introduction -- The Real‐Estate Sector - Analysis and Challenges -- The Real‐Estate Market System -- The Participants (Entities) of the Real‐Estate Market -- Real Estate and Its Characteristics -- Research and Analytical Methods -- 4.2 Economic Sustainability, Valuation Automata and Local Price Development -- Introduction -- The Need for a Sustainable Housing Market -- The New Paradigm of Modelling Value - Is AVM the Solution? -- Designing an Empirical Modelling Method -- Data Preparation -- The Results of the Analysis -- The Principle of Smoothing the Value Using a SOM Approach -- Conclusions and Discussion -- 4.3 Evaluation of Selected Real‐Estate Markets - A Case Study from Poland -- Introduction -- Perfect versus Imperfect Real‐Estate Markets -- Analysis of Selected Real‐Estate Markets in Poland - Case Study -- The Use of the Rough Set Theory in Real‐Estate Market Analysis -- Conclusions -- 4.4 Cyclical Capitalization -- Introduction -- Real‐Estate Market Cycle -- Income Approach and International Valuation Standards -- Cyclical Capitalization -- The Primum Group of Cyclical Capitalization -- The Meaning of g Factor or Δa -- The Primum Group -- The Secundum Group of Cyclical Capitalization Methods -- The Tertium Group of Cyclical Capitalization Methods -- The Quartum Group of Cyclical Capitalization Methods -- Application of Cyclical Capitalization Models to London Office Market -- Time‐Series Analysis for Cyclical Capitalization Application -- Conclusions -- Part 5 Towards a More Sustainable Real‐Estate Market -- 5.0 Introduction -- 5.1 Professional Responsibility -- Introduction -- Built‐Environment Professionalism and Professional Bodies.

General Guiding Principles and Role within the Institutional Framework -- Professional Bodies at Risk -- Sustainability Literacy in Built‐Environment Professionalism -- The Ethics of Built‐Environment Professionalism -- Professional Disciplines in a Social, Environmental and Economic Context -- How Ethical Are Professional Codes of Conduct? -- European Institutions -- Responsibility and Accountability for Outcomes: Future Professionals -- Taking Personal Responsibility for the Other -- Professional Sustainable Practices -- 5.2 Professional Approach -- Introduction -- Bottom‐Line Approaches -- A Way Forward -- Proposed Changes Regarding Current Valuation Practice and Standards -- Conclusion -- Appendices -- References -- Index -- EULA.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.