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Principles of Property Investment and Pricing

  • Textbook
  • © 1993
  • Latest edition

Overview

Authors:
  1. W. D. Fraser

    1. Department of Land Economics, University of Paisley, UK

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Part of the book series: Building and Surveying Series (BASS)

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Table of contents (27 chapters)

  1. Front Matter

    Pages i-xviii
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  2. Introduction

    1. Introduction

      • W. D. Fraser
      Pages 1-4

  3. Principles of Investment and Asset Pricing

    1. Front Matter

      Pages 5-5
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    2. Debt and Equity — Risks and Returns

      • W. D. Fraser
      Pages 7-17

    3. Marketable Securities and the Stock Market

      • W. D. Fraser
      Pages 18-28

    4. Analysis of Stock-Market Securities

      • W. D. Fraser
      Pages 29-44

    5. Gilt-Edged Securities — Prices and Yields

      • W. D. Fraser
      Pages 45-55

    6. Ordinary Shares — Prices and Yields

      • W. D. Fraser
      Pages 56-66

    7. The Investment Yield Spectrum

      • W. D. Fraser
      Pages 67-77

    8. Modern Theories of Investment Pricing

      • W. D. Fraser
      Pages 78-87

    9. Trends in Share Prices

      • W. D. Fraser
      Pages 88-97

  4. Property Investments — Prices and Yields

    1. Front Matter

      Pages 99-99
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    2. Property Investments and the Property Market

      • W. D. Fraser
      Pages 101-109

    3. Property’s Yield and a Pricing Model

      • W. D. Fraser
      Pages 110-125

    4. Property’s Risk and the Level of Yields

      • W. D. Fraser
      Pages 126-148

    5. The Spectrum of Property Yields

      • W. D. Fraser
      Pages 149-166

  5. The Determination of Rental Value

    1. Front Matter

      Pages 167-167
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    2. The Concept of Rent as a Surplus

      • W. D. Fraser
      Pages 169-181

    3. Rental Value — a Demand and Supply Analysis

      • W. D. Fraser
      Pages 182-197

    4. Rental Value and the Sub-Market

      • W. D. Fraser
      Pages 198-218
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Keywords

About this book

This book is a comprehensive analysis of property investment and the market's determination of commercial property values and investment performance. The author examines the economic forces that operate in the property market by placing property in the context of the overall investment market and the local, national and international economies. Relevant concepts and principles of economics, investment and finance are identified; these are then used to explain the operation of the property market and property price determination. The text begins with a study of the stock market, identifying the principles and forces which explain the price determination of stocks and shares. These principles are then applied to commercial property investments and a simple theory is developed. The three major sectors of the property market (letting, development and investment) are then analysed in depth, and the pricing theory is reviewed. After an examination of the influence of government intervention, the subject is synthesised by detailed studies of three of the most turbulent periods in the history of the post Second World War property market in the UK. In this second edition, both the text and illustrative examples have been updated. The theory of the market's determination of rental values and yields have been substantially revised and developed. A new chapter, discussing the 1980s property boom and the 1990s collapse, has been added.

Authors and Affiliations

  • Department of Land Economics, University of Paisley, UK

    W. D. Fraser

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