This classic text has been updated to meet the needs of today's students. It has been revised in line with the 2011 seventh edition of the RICS Valuation Standards and covers the latest valuation techniques including the important area of investment appraisals. It will help readers understand the complex world of property valuation, in particular: * how to analyze market rents and sales prices to derive market evidence to support an opinion of market value * the investment method of valuation and how it's applied in practice * how specific legal factors can impact on market value when they interfere with market forces * what the market and the profession may consider to be the 'right' methodology in today's market place * how to use spreadsheets in valuation. This new edition places a particular emphasis on investment valuations and the impact of landlord and tenant relationships on value. The text has always been well regarded for its clear explanations of the maths behind valuations, and practical examples are provided to illustrate the valuation techniques used today for property investments, property developments and properties valued with reference to their business profits.

Andrew Baum BSc MPhil PhD is a Chartered Surveyor and an Investment Analyst. He is Professor of Land Management at the University of Reading and Chairman of Oxford Property Consultants, an international property research and investment company. David Mackmin BSc MSc is a Chartered Surveyor and Professor of Property Studies at Sheffield Hallam University. He is currently an executive member of the RICS International Valuation Faculty Board and of the RICS Europe Board and is an editor for isurv. Nick Nunnington BSc MBA is a Chartered Surveyor and a Principal Lecturer at Sheffield Hallam University. He has a professional background in the public and private sectors in commercial valuation and management. He is a member of the RICS European Partnership and Accreditation Board.