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Measures of Variability in the Application of Cyclical Capitalization (Normal Form) to London Office Market

In: Property Valuation and Market Cycle

Author

Listed:
  • Maurizio d’Amato

    (Technical University Politecnico di Bari)

  • Asma Salman

    (American University in the Emirates)

  • Giampiero Sirleo

    (University San Raffaele)

Abstract

The introduction of the definition of cyclical assets in the International Valuation Standards (IVSC, 2017, 2020) requires a specific attention while valuing commercial properties with direct capitalization or discounted cash flow analysis. Following the introduction of cyclical capitalization model (d’Amato, Int J Strategic Property Manag 19(3):207–219, 2015) provides a possible solution for the problem of the integration of property market cycle inside the valuation process. In this vein the contribution explores the relationship between inputs and output in the cyclical yield capitalization modelling defining a relationship between variability of market trend and variability of the opinion of value. Evidence confirms the stability of the opinion of value provided by this kind of method.

Suggested Citation

  • Maurizio d’Amato & Asma Salman & Giampiero Sirleo, 2022. "Measures of Variability in the Application of Cyclical Capitalization (Normal Form) to London Office Market," Springer Books, in: Maurizio d'Amato & Yener Coskun (ed.), Property Valuation and Market Cycle, chapter 0, pages 227-241, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-09450-7_15
    DOI: 10.1007/978-3-031-09450-7_15
    as

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