Missed last week’s briefing on ‘Approaches for Prudent Property Valuations across Europe’ where Neil Crosby, University of Reading and Professor Aart Hordijk, Tilburg University, (retired) presented the findings from the Nick Tyrrell Research Prize winning paper for 2022.
Catch up
The paper explored previous research on the topic and carried out a detailed analysis of the different concepts of value, analysed the differences between exchange price, through-the-cycle and under-the-cycle methods, and discussed how the new definition of prudent value fitted into these different concepts. It explores recommendations to be made on how the prudent value definition could be applied in practice. The over-riding conclusion is that the prudent value process is a market analysis not a valuation process.
The Nick Tyrrell Research Prize was established in 2011 by the IPF, INREV and SPR to acknowledge innovative and high quality, applied research in real estate investment.
Download an abstract of the winning paper below.
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Nick Tyrrell prize abbreviated paper
Last updated on 16 May 2023