Tom Kauko – författare

A new framework for understanding the underpinnings of real estate property value and the role it plays in the larger economy

Value in a Changing Built Environment examines the professional foundations on which the valuation exercise and the valuation profession rest. Written by noted experts in the field, the book addresses the often limited understanding of the concept of property value by explaining the intrinsic linkages between economic, environmental, social, and cultural measures and components of property value. The book offers a framework that paves the way towards a more holistic approach to property value.

Value in a Changing Built Environment unwraps many of the traditional assumptions that have underpinned market participants’ decision making over the last few decades. The authors explore the concept that a blindfold application of valuation theories and approaches adopted from finance is unlikely to be able to cope with the nature of property as an economic and public good. This vital resource:

Value in a Changing Built Environment examines how real estate valuation plays a pivotal role in decision making and how can a new body of knowledge improve the practice in both business and social domains.

A new framework for understanding the underpinnings of real estate property value and the role it plays in the larger economy

Value in a Changing Built Environment examines the professional foundations on which the valuation exercise and the valuation profession rest. Written by noted experts in the field, the book addresses the often limited understanding of the concept of property value by explaining the intrinsic linkages between economic, environmental, social, and cultural measures and components of property value. The book offers a framework that paves the way towards a more holistic approach to property value.

Value in a Changing Built Environment unwraps many of the traditional assumptions that have underpinned market participants’ decision making over the last few decades. The authors explore the concept that a blindfold application of valuation theories and approaches adopted from finance is unlikely to be able to cope with the nature of property as an economic and public good. This vital resource:

Value in a Changing Built Environment examines how real estate valuation plays a pivotal role in decision making and how can a new body of knowledge improve the practice in both business and social domains.

Urban sustainability has become a political and social agenda of global significance, of which real estate is an integral dimension. Sustainable urban development includes much more than ‘green building’ standards, yet in practice, other aspects such land use plans and locations are often overlooked.

This book demonstrates that the issue of sustainable development stretches far beyond the hitherto dominating agenda based on ‘green’ (i.e. environmentally and ecologically sustainable) buildings. In doing so, it presents a novel framework based on the concept of economic sustainability of real estate locations, drawing connections with the global financial crisis and housing price bubble discourse. It argues for the need to better integrate social, cultural and economic dimensions into the real estate sustainability

agenda. It also explores the role of location, and especially the image aspect therein. Trends in consumer choice are important to the way these dimensions are appreciated in decisions about investment, development, valuation and other activities of the production, consumption and governance of the built environment.

This book will be of interest to private and public sector practitioners of real estate valuation as well as scholars of urban studies, geography, economics, urban planning and environmental studies.

Urban sustainability has become a political and social agenda of global significance, of which real estate is an integral dimension. Sustainable urban development includes much more than ‘green building’ standards, yet in practice, other aspects such land use plans and locations are often overlooked.

This book demonstrates that the issue of sustainable development stretches far beyond the hitherto dominating agenda based on ‘green’ (i.e. environmentally and ecologically sustainable) buildings. In doing so, it presents a novel framework based on the concept of economic sustainability of real estate locations, drawing connections with the global financial crisis and housing price bubble discourse. It argues for the need to better integrate social, cultural and economic dimensions into the real estate sustainability

agenda. It also explores the role of location, and especially the image aspect therein. Trends in consumer choice are important to the way these dimensions are appreciated in decisions about investment, development, valuation and other activities of the production, consumption and governance of the built environment.

This book will be of interest to private and public sector practitioners of real estate valuation as well as scholars of urban studies, geography, economics, urban planning and environmental studies.

The editors establish an international platform and present the scientific debate as well as practical feasibility considerations. Heretic and orthodox valuation methods are assessed based on specific criteria, partly technical and partly institutional. Methodological evaluation is approached using two types of criteria: operational concerns about how to determine property value differentials between spatial and functional units of real estate in a valid and reliable way (technical criteria); and the kind of market circumstances being operated in (institutional criteria). While technical criteria are relatively well-researched, there is little theoretically informed work on the connection between country context and selection of property appraisal methods.

The book starts with an examination of current mass property appraisal practices, presenting case studies from widely differing markets - from the American and Dutch, where regression-based methods have been used successfully for some time; to the Eastern European and other emerging economies, where limitations have to be compensated by focusing on the modelling assumptions.

The second part of the book looks at sophisticated modelling approaches, some of which represent combinations of elements from two or more techniques. Whatever the exact modelling approach, the requirements are always high for the quality of the data and suitability of the method. In the final section, methods are evaluated and compared according to technical criteria and against institutional contexts.With its exceptionally wide coverage of valuation issues, Mass Appraisal Methods: an international perspective for property valuers addresses property valuation problems common to different countries and approaches applicable in both developed and emerging economies.

This book addresses several problems related to automated valuation methodologies (AVM). Following the non-agency mortgage crisis, it offers a variety of approaches to improve the efficiency and quality of an automated valuation methodology (AVM) dealing with emerging problems and different contexts. Spatial issue, evolution of AVM standards, multilevel models, fuzzy and rough set applications and quantitative methods to define comparables are just some of the topics discussed.