Property Valuations
RICS Valuations are recognised as having legal status, unlike those produced by estate agents. They carry more weight due to the stringent procedures that an RICS Valuation Surveyor must adhere to.
Not all chartered surveyors can carry out valuation work
RICS Valuations must be completed by a RICS Registered Valuer. When you partner with PROJEKT QS, you not only get innovative solutions, you get our fully vested team and a commitment to doing things right.
Different challenges require different approaches
Market Approach
This approach adopts the principle that the value of a property may be determined by comparing it directly with market transactions for similar properties. It is commonly used in the valuation of residential, rural and commercial real estate and can also be used for the valuation of land and other real estate assets.
Income Approach
When valuing real estate that generates money for the investor, the Income approach may be used. This is split into the Income Capitalisation method and the Profits method. In the former, the value is derived from the net rental income and a capitalisation factor based on the expected annual rate of return. These are both normally assessed using comparable evidence.
Cost Approach
Also known as the Depreciated Replacement Cost approach, this is used to value real estate that does not usually sell on the open market such as public buildings, and for which comparable evidence does not exist. In some jurisdictions the cost approach is used for proposed or recently built properties. This approach is based on two components: the depreciated cost of the building element and the value of the land. Figures for both these components will be obtained from comparable evidence.
