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Informationen zum Autor Professor David Parker is an internationally recognised property industry expert on both the theory and practice of REITs, and a highly regarded property academic, being a director and adviser to property investment groups including listed real estate investment trusts, unlisted funds and private property businesses (www.davidparker.com.au). Professor Parker is currently the inaugural Professor of Property at the University of South Australia, an Adjunct Professor of Property at the University of Queensland, a Visiting Fellow at the University of Ulster and an Acting Commissioner of the Land and Environment Court of New South Wales. With over 25 years experience in all aspects of property fund management, portfolio management, asset management and property management as well as in property valuation, Professor Parker previously held senior executive positions with Schroders Property Fund and ANZ Funds Management. Professor Parker consults widely to REITs and property funds, having developed Clarity(r), a proprietorial research based property investment decision making process linking corporate vision to individual property assets. Holding BSc, MComm, MBA and PhD degrees, Professor Parker is a Fellow of the RICS, the Australian Institute of Company Directors, the Australian Property Institute, the Australian Institute of Management and the Financial Services Institute of Australasia. He is a member of the Society of Property Researchers, the American Real Estate and Urban Economics Association and the European, American and Pacific Rim Real Estate Societies. The author of numerous papers published in academic and industry journals, Professor Parker is a regular conference presenter around the world and Editorial Board Member for the highly ranked Journal of Property Research, the Pacific Rim Property Research Journal and Property Management. Klappentext International Valuation Standards: a guide to the valuation of real property assets is an essential road map to using the new International Valuation Standards in everyday practice for real estate assets, explains their content, application and operation. It shows how to value assets including property, plant and equipment and is written in an explanatory style using commonly understood business English with as little jargon as possible. It takes a thematic format, focusing on the application of IVSs to investment property and owner-occupied property with the author addressing valuation instruction, operation and reporting under IVSs. Zusammenfassung International Valuation Standards: a guide to the valuation of real property assets is an essential road map to using the new International Valuation Standards in everyday practice for real estate assets, explains their content, application and operation. Inhaltsverzeichnis Foreword xv About the Author xvii Preface xix Acknowledgements xxi Introduction 1 1 Market Value 3 1.0 Introduction 3 1.1 Globalisation and valuation 4 1.1.1 Globalisation 5 1.1.2 International Financial Reporting Standards 6 1.1.3 Valuation 8 1.2 Evolution of valuation standard setting 10 1.2.1 Principal phases 10 1.2.2 Role of IVSC 12 1.2.3 Role of IVSs 13 1.2.3.1 Structure of IVSs 13 1.2.3.2 International, Regional and National Valuation Standards 16 1.3 Market value 17 1.3.1 Spencer concept of market value 18 1.3.2 IVS definition of market value 20 1.3.2.1 Estimated amount 22 1.3.2.2 An asset should exchange 23 1.3.2.3 On the valuation date 23 1.3.2.4 Between a willing buyer 23 1.3.2.5 And a willing seller 24 1.3.2.6 In an arm's length transaction 25 1.3.2.7 After proper marketing 25 1.3.2.8 Where the parties had each acted knowledgably, prudently 26 1.3.2.9 And without compulsion 27 ...
