Towards a listed Real-Estate investment valuation model

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dc.contributor.advisor Cloete, C.E. (Christiaan Ernst)
dc.contributor.postgraduate Boshoff, Douw G.B.
dc.date.accessioned 2013-12-10T08:49:34Z
dc.date.available 2013-12-10T08:49:34Z
dc.date.created 2013-09-04
dc.date.issued 2013
dc.description Thesis (PhD)--University of Pretoria, 2013. en_US
dc.description.abstract When considering the valuation techniques of income-producing property, various types of information should be obtained from the market in order to apply them to the valuation of the property under consideration. This includes the comparison with other properties sold in the market. However, due to the illiquid nature of property, especially those typically owned by institutional investors, such transactions do not take place every day. Therefore the necessary information is not always readily available, and also not of the required quality. In order to try and eliminate this problem, the study considers the possibility of using alternative information to indicate market activities. Various studies have considered the similarities of direct real estate and indirect real estate. Most of these studies compare the investment returns of the two markets. This study extends the research by specifically looking at the unique property loan stock structure of South Africa, and comparing the value of shares to the value of assets. It therefore offers a more comprehensive explanation of the factors over and above the return received on the investment. It furthermore considers the composition of the property portfolio and the possibility to measure individual property values within such a portfolio. The outcome of the study is a model that allows property valuation and market interpretation from fundamental principles, with supporting evidence from the listed-property investment market. en_US
dc.description.availability unrestricted en_US
dc.description.department Construction Economics en_US
dc.description.librarian gm2013 en_US
dc.identifier.citation Boshoff, D.G.B. 2013, Towards a listed Real-Estate investment valuation model, PhD thesis, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/32819> en_US
dc.identifier.other D13/9/1040/gm en_US
dc.identifier.uri http://hdl.handle.net/2263/32819
dc.language.iso Eng en_US
dc.publisher University of Pretoria en_ZA
dc.rights © 2013 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria en_US
dc.subject Real-Estate en_US
dc.subject Valuation on property en_US
dc.subject Property market en_US
dc.subject Listed-property investment market en_US
dc.subject UCTD en_US
dc.title Towards a listed Real-Estate investment valuation model en_US
dc.type Thesis en_US


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