Valuation of Property Assets: An International Research Agenda

Abstract

Over the past decade, there has been a significant growth in real estate research throughout the world. While many countries are characterised by differing histories of real estate education and research reflecting variations in political systems, land tenure, culture and economic development, the past ten years have witnessed a dramatic increase both in the volume of research and the opportunities for presentation and publication of findings.To date, there have been few reflective studies of the nature and scope of property research; consequently, we argue that it is useful to map the research terrain by analysing contributions to research conferences. We argue that, as not all contributions have been published, the conference provides a broader overview of the main areas of real estate research activity than would be possible from a similar study of contributions to academic journals. Similarly, the conference provides comprehensive coverage of research undertaken in the valuation specialism which is the specific focus of this paper.This paper presents initial findings from a comparative analysis of valuation papers presented at the RICS Cutting Edge (RICS CE), European Real Estate Society (ERES) and Pacific Rim Real Estate Society (PRRES) conferences over the period 1993 to 2001. The emerging themes and characteristics of a global valuation research agenda are discussed together with the implications for future research.