Towards transparency in the investment property market
Note: Although not recent, I thought this article by TINSA would make interesting reading, regards Andrew.
What viewpoint should govern the anticipation principles that a professional Appraiser uses to obtain an estimate of the Fair Value of an Investment Property?
The Fair Value is defined in the I.F.R.S. (International Financial Reporting Standards as: “The best price that can reasonably be obtained by the vendor and the most advantageous price possible for the buyer”.
And it then goes on to add the annotation: In the majority of cases, the Fair Value will be the Market Value.